Brokerages Set Alkermes plc (NASDAQ:ALKS) PT at $38.33

Alkermes plc (NASDAQ:ALKS - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the twelve analysts that are currently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $38.33.

Several brokerages have commented on ALKS. Royal Bank of Canada increased their price target on shares of Alkermes from $39.00 to $40.00 and gave the company a "sector perform" rating in a research note on Friday, May 2nd. HC Wainwright reiterated a "neutral" rating on shares of Alkermes in a research report on Friday, May 2nd. The Goldman Sachs Group lifted their target price on shares of Alkermes from $30.00 to $32.00 and gave the company a "buy" rating in a report on Friday, February 14th. Robert W. Baird boosted their price target on shares of Alkermes from $38.00 to $41.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Finally, StockNews.com downgraded shares of Alkermes from a "strong-buy" rating to a "buy" rating in a research report on Monday, May 5th.

Alkermes Trading Down 1.4%

ALKS traded down $0.43 on Friday, hitting $30.84. 1,122,236 shares of the company were exchanged, compared to its average volume of 1,771,242. The firm has a 50-day moving average price of $30.85 and a two-hundred day moving average price of $30.60. Alkermes has a twelve month low of $22.90 and a twelve month high of $36.45. The company has a market cap of $5.09 billion, a price-to-earnings ratio of 14.21, a price-to-earnings-growth ratio of 2.20 and a beta of 0.51.

Alkermes (NASDAQ:ALKS - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.32 by ($0.19). The company had revenue of $306.51 million for the quarter, compared to analyst estimates of $307.53 million. Alkermes had a return on equity of 30.80% and a net margin of 23.57%. The business's quarterly revenue was down 12.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.43 earnings per share. Equities analysts expect that Alkermes will post 1.31 EPS for the current year.

Insider Activity

In related news, EVP Craig C. Hopkinson sold 144,419 shares of the company's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $35.53, for a total value of $5,131,207.07. Following the sale, the executive vice president now owns 57,875 shares of the company's stock, valued at approximately $2,056,298.75. This represents a 71.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.40% of the company's stock.

Institutional Trading of Alkermes

Large investors have recently made changes to their positions in the stock. Algert Global LLC purchased a new position in Alkermes in the 1st quarter valued at about $5,840,000. Raymond James Financial Inc. lifted its stake in shares of Alkermes by 0.5% during the first quarter. Raymond James Financial Inc. now owns 429,482 shares of the company's stock valued at $14,181,000 after buying an additional 2,060 shares during the period. American Century Companies Inc. boosted its position in Alkermes by 0.4% during the first quarter. American Century Companies Inc. now owns 3,465,674 shares of the company's stock worth $114,437,000 after acquiring an additional 14,967 shares during the last quarter. Neuberger Berman Group LLC grew its stake in Alkermes by 1,524.5% in the 1st quarter. Neuberger Berman Group LLC now owns 199,977 shares of the company's stock worth $6,603,000 after acquiring an additional 187,667 shares during the period. Finally, Russell Investments Group Ltd. grew its stake in Alkermes by 2,986.2% in the 1st quarter. Russell Investments Group Ltd. now owns 152,859 shares of the company's stock worth $5,071,000 after acquiring an additional 147,906 shares during the period. Institutional investors and hedge funds own 95.21% of the company's stock.

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.