Alkermes plc (NASDAQ:ALKS) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Analysts give Alkermes a consensus rating of Moderate Buy from 18 brokerages (1 sell, 4 hold, 11 buy, 2 strong buy) with an average 1‑year price target of about $44.07.
• The stock opened at $33.31, has a market cap of $5.54B and a PE of 23.29, reported $0.29 EPS and $384.6M revenue last quarter, while sell‑side analysts expect Alkermes to post -0.69 EPS for the current year.

Alkermes plc (NASDAQ:ALKS - Get Free Report) has received a consensus rating of "Moderate Buy" from the eighteen brokerages that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $44.0667.

ALKS has been the subject of a number of recent research reports. Truist Financial upgraded Alkermes to a "strong-buy" rating in a research note on Wednesday, March 25th. Zacks Research downgraded Alkermes from a "hold" rating to a "strong sell" rating in a research note on Friday, March 20th. Royal Bank Of Canada cut their price target on Alkermes from $47.00 to $45.00 and set an "outperform" rating for the company in a research note on Thursday, February 26th. Wall Street Zen downgraded Alkermes from a "buy" rating to a "hold" rating in a research note on Saturday, February 28th. Finally, Wells Fargo & Company boosted their price target on Alkermes from $37.00 to $43.00 and gave the company an "overweight" rating in a research note on Thursday, February 26th.

Alkermes Price Performance

ALKS opened at $33.31 on Friday. The stock has a 50-day moving average price of $31.34 and a 200-day moving average price of $30.89. The firm has a market cap of $5.54 billion, a PE ratio of 23.29 and a beta of 0.44. Alkermes has a 1 year low of $25.17 and a 1 year high of $36.48.

Alkermes (NASDAQ:ALKS - Get Free Report) last issued its earnings results on Saturday, February 14th. The company reported $0.29 earnings per share for the quarter. The business had revenue of $384.55 million during the quarter. Alkermes had a return on equity of 14.91% and a net margin of 16.37%. As a group, sell-side analysts anticipate that Alkermes will post -0.69 EPS for the current year.

Insider Transactions at Alkermes

In other Alkermes news, SVP Christian Todd Nichols sold 6,000 shares of the business's stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $30.00, for a total transaction of $180,000.00. Following the completion of the sale, the senior vice president directly owned 109,769 shares in the company, valued at $3,293,070. The trade was a 5.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP David Joseph Gaffin sold 2,034 shares of the business's stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $34.57, for a total value of $70,315.38. Following the sale, the executive vice president owned 233,592 shares of the company's stock, valued at approximately $8,075,275.44. This represents a 0.86% 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. In the last quarter, insiders have sold 159,468 shares of company stock valued at $5,433,699. 4.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Louisiana State Employees Retirement System bought a new position in shares of Alkermes during the 1st quarter valued at approximately $2,588,000. Assenagon Asset Management S.A. grew its stake in shares of Alkermes by 10.7% during the 1st quarter. Assenagon Asset Management S.A. now owns 122,127 shares of the company's stock valued at $4,318,000 after acquiring an additional 11,845 shares during the period. SG Americas Securities LLC grew its stake in shares of Alkermes by 399.0% during the 1st quarter. SG Americas Securities LLC now owns 178,993 shares of the company's stock valued at $6,329,000 after acquiring an additional 143,121 shares during the period. Evolve Private Wealth LLC grew its stake in shares of Alkermes by 3.3% during the 1st quarter. Evolve Private Wealth LLC now owns 20,401 shares of the company's stock valued at $721,000 after acquiring an additional 652 shares during the period. Finally, Diversified Trust Co grew its stake in shares of Alkermes by 11.9% during the 1st quarter. Diversified Trust Co now owns 54,913 shares of the company's stock valued at $1,942,000 after acquiring an additional 5,855 shares during the period. 95.21% of the stock is currently owned by institutional investors.

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.

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