Alkermes plc (NASDAQ:ALKS) Stock Has Average Target Price of $54.56

Shares of Alkermes plc (NASDAQ:ALKS) have been given a consensus rating of “Moderate Buy” by the nineteen ratings firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $54.47.

Several analysts have commented on the stock. Robert W. Baird lifted their price objective on shares of Alkermes from $58.00 to $61.00 and gave the stock an “outperform” rating in a research report on Tuesday. HC Wainwright reissued a “neutral” rating on shares of Alkermes in a research report on Monday. TD Cowen restated a “buy” rating on shares of Alkermes in a research note on Monday. Mizuho raised shares of Alkermes to a “strong-buy” rating in a report on Wednesday, September 16th. Finally, JPMorgan Chase & Co. upped their price objective on Alkermes from $60.00 to $61.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th.

Insider Transactions at Alkermes

In other news, SVP Christian Nichols sold 7,576 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $49.23, for a total value of $372,966.48. Following the sale, the senior vice president owned 102,193 shares of the company’s stock, valued at $5,030,961.39. The trade was a 6.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP David Gaffin sold 2,034 shares of the company’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $48.01, for a total transaction of $97,652.34. Following the sale, the executive vice president owned 223,422 shares in the company, valued at $10,726,490.22. The trade was a 0.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 85,150 shares of company stock valued at $4,242,213. 4.59% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alkermes

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Integrated Wealth Concepts LLC bought a new position in shares of Alkermes in the second quarter worth $113,000. Baird Financial Group Inc. bought a new stake in Alkermes during the second quarter valued at $2,791,000. Arizona State Retirement System grew its position in Alkermes by 1.1% during the second quarter. Arizona State Retirement System now owns 43,580 shares of the company’s stock worth $2,283,000 after buying an additional 494 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Alkermes during the second quarter worth about $1,733,000. Finally, Ameritas Advisory Services LLC purchased a new stake in Alkermes in the second quarter valued at approximately $39,000. Institutional investors own 95.21% of the company’s stock.

Alkermes Stock Down 3.2%

ALKS stock opened at $40.79 on Tuesday. The stock has a market cap of $6.84 billion, a P/E ratio of 107.34 and a beta of 0.31. The company has a current ratio of 2.30, a quick ratio of 1.85 and a debt-to-equity ratio of 0.82. The stock’s fifty day simple moving average is $48.24 and its two-hundred day simple moving average is $42.32. Alkermes has a 1-year low of $26.99 and a 1-year high of $55.67.

Alkermes Company Profile

Alkermes plc (NASDAQ: ALKS) is a biopharmaceutical company focused on developing and commercializing medicines for central nervous system diseases. Its research and development activities include treatments for schizophrenia, bipolar disorder, addiction and other serious neurological or psychiatric conditions, with an emphasis on long-acting injectable and extended-release formulations.

The company’s marketed products include VIVITROL, an extended-release injectable form of naltrexone used to treat alcohol dependence and prevent relapse to opioid dependence after detoxification; ARISTADA, an extended-release injectable formulation of aripiprazole lauroxil for the treatment of schizophrenia in adults; and LYBALVI, an oral combination of olanzapine and samidorphan approved for schizophrenia and bipolar I disorder in adults.

Founded in Ireland in 1987, Alkermes has developed drug-delivery technologies intended to help extend dosing intervals and support medication adherence.