Alkermes plc (NASDAQ:ALKS) Receives $38.33 Consensus Target Price from Analysts

Alkermes plc (NASDAQ:ALKS) has earned a consensus rating of “Moderate Buy” from the twelve analysts that are presently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $38.33.

ALKS has been the topic of several recent analyst reports. Royal Bank of Canada lifted their price target on Alkermes from $39.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Friday, May 2nd. Deutsche Bank Aktiengesellschaft upped their target price on shares of Alkermes from $40.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. UBS Group reissued a “sector perform” rating on shares of Alkermes in a report on Monday, April 28th. Robert W. Baird boosted their price objective on shares of Alkermes from $38.00 to $41.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Finally, StockNews.com cut shares of Alkermes from a “strong-buy” rating to a “buy” rating in a research note on Monday, May 5th.

Institutional Trading of Alkermes

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Virtus Advisers LLC acquired a new stake in Alkermes during the first quarter valued at approximately $228,000. MetLife Investment Management LLC boosted its stake in Alkermes by 487.0% in the 1st quarter. MetLife Investment Management LLC now owns 567,621 shares of the company’s stock valued at $18,743,000 after buying an additional 470,926 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in Alkermes in the first quarter valued at $2,479,000. Advantage Alpha Capital Partners LP raised its stake in Alkermes by 53.1% during the first quarter. Advantage Alpha Capital Partners LP now owns 21,357 shares of the company’s stock worth $705,000 after acquiring an additional 7,410 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in shares of Alkermes by 173.3% during the first quarter. Hsbc Holdings PLC now owns 81,056 shares of the company’s stock valued at $2,639,000 after acquiring an additional 51,393 shares during the period. Institutional investors own 95.21% of the company’s stock.

Alkermes Trading Down 0.7%

NASDAQ ALKS opened at $30.62 on Friday. Alkermes has a 1 year low of $22.90 and a 1 year high of $36.45. The company has a fifty day simple moving average of $30.70 and a 200 day simple moving average of $30.61. The company has a market cap of $5.05 billion, a P/E ratio of 14.11, a P/E/G ratio of 2.20 and a beta of 0.51.

Alkermes (NASDAQ:ALKS) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.19). Alkermes had a net margin of 23.57% and a return on equity of 30.80%. The firm had revenue of $306.51 million for the quarter, compared to the consensus estimate of $307.53 million. During the same quarter last year, the company earned $0.43 earnings per share. The firm’s revenue was down 12.6% on a year-over-year basis. Equities research analysts forecast that Alkermes will post 1.31 EPS for the current fiscal year.

About Alkermes

Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in therapeutic areas in the United States, Ireland, and internationally. It has a portfolio of proprietary commercial products for the treatment of alcohol dependence, opioid dependence, schizophrenia and bipolar I disorder and a pipeline of clinical and preclinical product candidates in development for neurological disorders.