Alkermes plc (NASDAQ:ALKS - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $29.42, but opened at $30.24. Alkermes shares last traded at $30.20, with a volume of 164,822 shares.
Wall Street Analysts Forecast Growth
A number of analysts have commented on ALKS shares. Needham & Company LLC assumed coverage on Alkermes in a research report on Wednesday, May 28th. They set a "buy" rating and a $45.00 price target for the company. Cantor Fitzgerald upgraded shares of Alkermes to a "strong-buy" rating in a research report on Tuesday, May 13th. HC Wainwright reaffirmed a "neutral" rating on shares of Alkermes in a research note on Friday, May 2nd. Robert W. Baird increased their target price on Alkermes from $38.00 to $41.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Alkermes from $40.00 to $52.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $40.00.
Check Out Our Latest Stock Report on Alkermes
Alkermes Price Performance
The company has a market capitalization of $4.80 billion, a PE ratio of 12.98, a P/E/G ratio of 1.82 and a beta of 0.47. The business's 50 day simple moving average is $29.77 and its 200 day simple moving average is $31.02.
Alkermes (NASDAQ:ALKS - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.19). Alkermes had a return on equity of 27.52% and a net margin of 23.30%. The business had revenue of $306.51 million during the quarter, compared to analysts' expectations of $307.53 million. During the same quarter in the previous year, the company posted $0.43 earnings per share. The company's revenue was down 12.6% on a year-over-year basis. As a group, analysts anticipate that Alkermes plc will post 1.31 EPS for the current year.
Insider Buying and Selling at Alkermes
In other Alkermes news, SVP Christian Todd Nichols sold 3,334 shares of Alkermes stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $31.09, for a total value of $103,654.06. Following the completion of the transaction, the senior vice president now directly owns 86,208 shares of the company's stock, valued at $2,680,206.72. The trade was a 3.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 4.40% of the company's stock.
Institutional Investors Weigh In On Alkermes
Hedge funds have recently added to or reduced their stakes in the business. Venturi Wealth Management LLC purchased a new position in Alkermes in the fourth quarter valued at $25,000. Twin Tree Management LP purchased a new stake in shares of Alkermes during the first quarter worth approximately $29,000. Brooklyn Investment Group lifted its stake in Alkermes by 1,071.1% in the first quarter. Brooklyn Investment Group now owns 1,054 shares of the company's stock worth $35,000 after acquiring an additional 964 shares during the last quarter. Quantbot Technologies LP increased its position in shares of 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 purchasing an additional 385 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Alkermes by 106.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,635 shares of the company's stock worth $47,000 after purchasing an additional 842 shares during the last quarter. 95.21% of the stock is currently owned by institutional investors and hedge funds.
Alkermes Company Profile
(
Get Free Report)
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.
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