Alkermes plc (NASDAQ:ALKS) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Alkermes plc (NASDAQ:ALKS) have earned an average rating of “Moderate Buy” from the seventeen analysts that are currently covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $45.40.

ALKS has been the topic of several research reports. Truist Financial upgraded Alkermes to a “strong-buy” rating in a research note on Wednesday, March 25th. HC Wainwright reaffirmed a “neutral” rating and set a $43.00 price objective on shares of Alkermes in a report on Thursday, February 26th. Piper Sandler decreased their price objective on Alkermes from $45.00 to $43.00 and set an “overweight” rating on the stock in a report on Tuesday, March 24th. Bank of America lifted their price objective on Alkermes from $34.00 to $36.00 and gave the company a “neutral” rating in a report on Thursday, April 9th. Finally, Weiss Ratings downgraded Alkermes from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th.

Alkermes Stock Performance

Shares of ALKS opened at $36.80 on Wednesday. Alkermes has a 12-month low of $25.17 and a 12-month high of $39.56. The company has a quick ratio of 1.70, a current ratio of 2.27 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $6.13 billion, a price-to-earnings ratio of 40.89 and a beta of 0.31. The stock’s 50-day moving average price is $33.37 and its 200 day moving average price is $31.55.

Alkermes (NASDAQ:ALKS) last issued its quarterly earnings results on Saturday, February 14th. The company reported $0.29 earnings per share (EPS) for the quarter. Alkermes had a return on equity of 9.26% and a net margin of 9.78%.The firm had revenue of $384.55 million for the quarter. As a group, research analysts predict that Alkermes will post -0.43 earnings per share for the current year.

Insider Buying and Selling at Alkermes

In other Alkermes news, SVP Christian Todd Nichols sold 6,000 shares of Alkermes stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $30.00, for a total transaction of $180,000.00. Following the sale, the senior vice president directly owned 109,769 shares of the company’s stock, valued at approximately $3,293,070. The trade was a 5.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Craig C. Hopkinson sold 9,000 shares of Alkermes stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $33.40, for a total value of $300,600.00. Following the sale, the executive vice president directly owned 81,389 shares in the company, valued at $2,718,392.60. The trade was a 9.96% 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 ninety days, insiders have sold 39,102 shares of company stock valued at $1,265,090. 4.59% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Assetmark Inc. boosted its holdings in shares of Alkermes by 933.8% in the 3rd quarter. Assetmark Inc. now owns 827 shares of the company’s stock worth $25,000 after acquiring an additional 747 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new position in shares of Alkermes in the 4th quarter worth approximately $28,000. Johnson Financial Group Inc. acquired a new position in shares of Alkermes in the 3rd quarter worth approximately $31,000. UMB Bank n.a. boosted its holdings in shares of Alkermes by 57.6% in the 4th quarter. UMB Bank n.a. now owns 1,220 shares of the company’s stock worth $34,000 after acquiring an additional 446 shares in the last quarter. Finally, Salomon & Ludwin LLC boosted its holdings in shares of Alkermes by 115.6% in the 4th quarter. Salomon & Ludwin LLC now owns 1,244 shares of the company’s stock worth $35,000 after acquiring an additional 667 shares in the last quarter. 95.21% of the stock is owned by institutional investors and hedge funds.

About Alkermes

Alkermes plc is a biopharmaceutical company focused on developing innovative medicines to address unmet needs in the central nervous system (CNS). The company applies its proprietary drug delivery technologies and therapeutic expertise to advance treatments for addiction, schizophrenia, bipolar I disorder and depression. Alkermes’ portfolio includes both commercial products and a pipeline of investigational therapies designed to improve patient outcomes and support long-term disease management.

Alkermes’ commercial franchise features several approved products.