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

Alkermes plc (NASDAQ:ALKS - Get Free Report) has been assigned an average rating of "Moderate Buy" from the twelve analysts that are covering the firm, Marketbeat.com reports. Three investment 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 price target among brokers that have issued a report on the stock in the last year is $40.92.

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Alkermes in a research note on Tuesday, July 15th. They set a "buy" rating and a $43.00 target price for the company. Cantor Fitzgerald raised shares of Alkermes to a "strong-buy" rating in a research note on Tuesday, May 13th. Royal Bank Of Canada raised their target price 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 and set a $46.00 price target on shares of Alkermes in a report on Monday, July 21st. Finally, Robert W. Baird increased their price target on shares of Alkermes from $38.00 to $41.00 and gave the company an "outperform" rating in a report on Friday, May 2nd.

Insiders Place Their Bets

In other news, SVP Christian Todd Nichols sold 3,334 shares of the firm's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $31.09, for a total transaction of $103,654.06. Following the sale, the senior vice president directly owned 86,208 shares in the company, valued at $2,680,206.72. This trade represents a 3.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.40% of the company's stock.

Institutional Trading of Alkermes

Several institutional investors and hedge funds have recently modified their holdings of the company. Twin Tree Management LP bought a new stake in Alkermes in the 1st quarter valued at $29,000. Armstrong Advisory Group Inc. bought a new stake in Alkermes in the 2nd quarter valued at $29,000. Brooklyn Investment Group increased its holdings in Alkermes by 1,071.1% in the 1st quarter. Brooklyn Investment Group now owns 1,054 shares of the company's stock valued at $35,000 after acquiring an additional 964 shares during the last quarter. Quantbot Technologies LP increased 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 acquiring an additional 385 shares during the last quarter. Finally, USA Financial Formulas purchased a new position in shares of Alkermes in the 1st quarter worth $49,000. 95.21% of the stock is currently owned by institutional investors.

Alkermes Trading Down 1.5%

Shares of ALKS stock traded down $0.40 during midday trading on Thursday, reaching $26.13. 1,694,473 shares of the stock were exchanged, compared to its average volume of 1,920,314. Alkermes has a 1 year low of $25.56 and a 1 year high of $36.45. The company's 50 day moving average is $29.59 and its two-hundred day moving average is $30.82. The firm has a market cap of $4.31 billion, a PE ratio of 12.50, a price-to-earnings-growth ratio of 1.65 and a beta of 0.44.

Alkermes (NASDAQ:ALKS - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.32 by ($0.19). Alkermes had a return on equity of 27.52% and a net margin of 23.30%. The firm had revenue of $306.51 million for the quarter, compared to analysts' expectations of $307.53 million. During the same quarter last year, the company posted $0.43 EPS. The firm's revenue was down 12.6% on a year-over-year basis. As a group, equities analysts expect 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.