Alkermes plc (NASDAQ:ALKS) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Analyst consensus: Eighteen brokerages rate Alkermes a "Moderate Buy" (1 sell, 4 hold, 11 buy, 2 strong buy) with an average 1‑year price target of $43.93.
• Insider selling: Company insiders have been net sellers — Director Shane Cooke sold 61,200 shares (~$2.12M) and insiders sold 157,434 shares (~$5.31M) over the past 90 days, though insiders still own 4.4% of the stock.
• Recent results and stock metrics: Q4 EPS of $0.29 missed estimates ($0.43) while revenue of $384.6M slightly beat, revenue was down 10.6% YoY; shares trade near $30.15 with a $5.02B market cap and a P/E of 21.08.

Alkermes plc (NASDAQ:ALKS - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the eighteen brokerages that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, eleven have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $43.9333.

Several research analysts have issued reports on ALKS shares. Wall Street Zen lowered Alkermes from a "buy" rating to a "hold" rating in a research report on Saturday, February 28th. Bank of America increased their price target on Alkermes from $33.00 to $34.00 and gave the stock a "neutral" rating in a report on Friday, February 20th. HC Wainwright restated a "neutral" rating and set a $43.00 price objective on shares of Alkermes in a report on Thursday, February 26th. Wells Fargo & Company boosted their price objective on Alkermes from $37.00 to $43.00 and gave the company an "overweight" rating in a report on Thursday, February 26th. Finally, Truist Financial upgraded Alkermes to a "strong-buy" rating in a research note on Wednesday, March 25th.

Insider Activity at Alkermes

In other news, Director Shane Cooke sold 61,200 shares of the company's stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $34.57, for a total value of $2,115,684.00. Following the transaction, the director directly owned 103,744 shares in the company, valued at approximately $3,586,430.08. This represents a 37.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP David Joseph Gaffin sold 2,034 shares of the firm's stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $29.29, for a total transaction of $59,575.86. Following the completion of the transaction, the executive vice president directly owned 237,660 shares in the company, valued at $6,961,061.40. This represents a 0.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 157,434 shares of company stock valued at $5,305,794 over the last ninety days. Company insiders own 4.40% of the company's stock.

Hedge Funds Weigh In On Alkermes

A number of institutional investors have recently modified their holdings of ALKS. Sanctuary Advisors LLC increased its position in shares of Alkermes by 2.7% during the 4th quarter. Sanctuary Advisors LLC now owns 12,141 shares of the company's stock worth $340,000 after purchasing an additional 315 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Alkermes by 3.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,326 shares of the company's stock worth $289,000 after buying an additional 351 shares during the period. Orion Porfolio Solutions LLC increased its position in shares of Alkermes by 4.5% during the third quarter. Orion Porfolio Solutions LLC now owns 8,762 shares of the company's stock valued at $263,000 after acquiring an additional 376 shares during the last quarter. Horizon Investments LLC raised its stake in shares of Alkermes by 0.9% in the 3rd quarter. Horizon Investments LLC now owns 43,002 shares of the company's stock valued at $1,290,000 after acquiring an additional 387 shares during the period. Finally, AMG National Trust Bank lifted its holdings in shares of Alkermes by 0.6% in the 3rd quarter. AMG National Trust Bank now owns 60,175 shares of the company's stock worth $1,805,000 after acquiring an additional 388 shares during the last quarter. 95.21% of the stock is owned by hedge funds and other institutional investors.

Alkermes Trading Up 2.6%

Shares of ALKS opened at $30.15 on Tuesday. The company's fifty day simple moving average is $31.28 and its 200-day simple moving average is $30.19. The company has a market cap of $5.02 billion, a P/E ratio of 21.08, a P/E/G ratio of 7.33 and a beta of 0.53. Alkermes has a twelve month low of $25.17 and a twelve month high of $36.32.

Alkermes (NASDAQ:ALKS - Get Free Report) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.29 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.14). The firm had revenue of $384.55 million for the quarter, compared to analysts' expectations of $380.44 million. Alkermes had a return on equity of 14.91% and a net margin of 16.37%.Alkermes's revenue for the quarter was down 10.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.05 earnings per share. Analysts predict that Alkermes will post 1.31 earnings per share for the current fiscal year.

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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