Alkermes plc (NASDAQ:ALKS) Receives $40.00 Average PT from Analysts

Alkermes plc (NASDAQ:ALKS - Get Free Report) has been given an average rating of "Moderate Buy" by the twelve brokerages that are presently covering the company, MarketBeat reports. Three 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 analysts that have covered the stock in the last year is $40.00.

Several research firms have recently commented on ALKS. Wall Street Zen lowered Alkermes from a "strong-buy" rating to a "buy" rating in a research report on Monday, May 5th. Royal Bank Of Canada boosted their price target on shares of Alkermes from $39.00 to $40.00 and gave the stock a "sector perform" rating in a research note on Friday, May 2nd. Cantor Fitzgerald raised shares of Alkermes to a "strong-buy" rating in a research note on Tuesday, May 13th. UBS Group raised shares of Alkermes from a "neutral" rating to a "buy" rating and raised their price target for the company from $33.00 to $42.00 in a research report on Tuesday, June 17th. Finally, HC Wainwright reaffirmed a "neutral" rating on shares of Alkermes in a research report on Friday, May 2nd.

Insider Transactions at Alkermes

In other Alkermes news, SVP Christian Todd Nichols sold 3,334 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $31.09, for a total transaction of $103,654.06. Following the transaction, the senior vice president owned 86,208 shares in the company, valued at approximately $2,680,206.72. The trade was a 3.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 4.40% of the company's stock.

Institutional Trading of Alkermes

A number of institutional investors have recently modified their holdings of the business. Voya Investment Management LLC grew its stake in shares of Alkermes by 6.0% during the 1st quarter. Voya Investment Management LLC now owns 477,183 shares of the company's stock worth $15,757,000 after purchasing an additional 27,136 shares during the period. Strs Ohio purchased a new position in Alkermes in the 1st quarter valued at approximately $1,403,000. Acadian Asset Management LLC raised its holdings in Alkermes by 2,422.0% during the first quarter. Acadian Asset Management LLC now owns 881,827 shares of the company's stock worth $29,100,000 after purchasing an additional 846,861 shares during the last quarter. Intech Investment Management LLC boosted its position in Alkermes by 25.6% during the first quarter. Intech Investment Management LLC now owns 85,564 shares of the company's stock worth $2,825,000 after purchasing an additional 17,413 shares in the last quarter. Finally, Bayforest Capital Ltd grew its holdings in Alkermes by 105.2% in the first quarter. Bayforest Capital Ltd now owns 9,270 shares of the company's stock valued at $306,000 after purchasing an additional 4,752 shares during the last quarter. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

Alkermes Stock Performance

Shares of ALKS stock traded up $0.05 on Friday, hitting $29.04. 716,570 shares of the stock traded hands, compared to its average volume of 1,724,932. Alkermes has a twelve month low of $22.90 and a twelve month high of $36.45. The firm's 50-day moving average price is $30.05 and its two-hundred day moving average price is $30.93. The stock has a market capitalization of $4.79 billion, a PE ratio of 13.91, a PEG ratio of 1.78 and a beta of 0.44.

Alkermes (NASDAQ:ALKS - Get Free Report) last posted its quarterly earnings results 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 net margin of 23.30% and a return on equity of 27.52%. The firm had revenue of $306.51 million during the quarter, compared to analysts' expectations of $307.53 million. During the same period last year, the company earned $0.43 EPS. The business's quarterly revenue was down 12.6% on a year-over-year basis. On average, equities research analysts anticipate that Alkermes will post 1.31 EPS for the current fiscal year.

About Alkermes

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.