Alkermes plc (NASDAQ:ALKS) Given Average Recommendation of “Moderate Buy” by Brokerages

Alkermes plc (NASDAQ:ALKS) has been assigned a consensus rating of “Moderate Buy” from the thirteen analysts that are covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $38.85.

Several equities research analysts have commented on the company. UBS Group reiterated a “sector perform” rating on shares of Alkermes in a research note on Monday, April 28th. Wall Street Zen cut Alkermes from a “strong-buy” rating to a “buy” rating in a research report on Monday, May 5th. HC Wainwright reissued a “neutral” rating on shares of Alkermes in a research note on Friday, May 2nd. Royal Bank of Canada raised their price objective on Alkermes from $39.00 to $40.00 and gave the company a “sector perform” rating in a report on Friday, May 2nd. Finally, The Goldman Sachs Group upped their target price on shares of Alkermes from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, February 14th.

Insider Activity

In other Alkermes news, SVP Christian Todd Nichols sold 3,333 shares of the business’s stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $31.95, for a total value of $106,489.35. Following the transaction, the senior vice president now directly owns 89,542 shares in the company, valued at $2,860,866.90. The trade was a 3.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 4.40% of the company’s stock.

Institutional Trading of Alkermes

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Venturi Wealth Management LLC purchased a new position in Alkermes in the fourth quarter worth approximately $25,000. Twin Tree Management LP purchased a new position in shares of Alkermes during the 1st quarter worth $29,000. Brooklyn Investment Group grew its holdings in shares of Alkermes by 1,071.1% during the 1st quarter. Brooklyn Investment Group now owns 1,054 shares of the company’s stock worth $35,000 after purchasing an additional 964 shares during the period. Quantbot Technologies LP raised its holdings in Alkermes by 54.5% in the 1st quarter. Quantbot Technologies LP now owns 1,091 shares of the company’s stock valued at $36,000 after buying an additional 385 shares during the period. Finally, USA Financial Formulas purchased a new stake in Alkermes in the 1st quarter valued at about $49,000. Institutional investors and hedge funds own 95.21% of the company’s stock.

Alkermes Stock Performance

Shares of NASDAQ ALKS opened at $31.06 on Wednesday. The firm has a fifty day moving average of $29.58 and a 200 day moving average of $31.00. The firm has a market cap of $5.12 billion, a PE ratio of 14.31, a PEG ratio of 2.20 and a beta of 0.47. Alkermes has a one year low of $22.90 and a one year high of $36.45.

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

Alkermes Company Profile

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.