Alkermes plc (NASDAQ:ALKS) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• Analyst sentiment is moderately bullish: Eighteen brokerages give Alkermes a consensus “Moderate Buy” rating, with 12 buys, one strong buy, four holds and one sell. The average 12-month price target is $54.56.
• Institutional ownership is substantial: Institutional investors own 95.21% of Alkermes, with notable stake increases from California State Teachers’ Retirement System, Baker Bros. Advisors, State Street and JPMorgan.
• Shares have risen significantly: ALKS opened at $48.90 and trades between a 52-week range of $25.17 to $55.67, while insiders have sold 87,150 shares worth approximately $4.27 million over the past 90 days.

Alkermes plc (NASDAQ:ALKS - Get Free Report) has received a consensus rating of "Moderate Buy" from the eighteen research firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation, twelve have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $54.5625.

ALKS has been the topic of a number of recent research reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Alkermes in a research note on Friday, August 7th. JPMorgan Chase & Co. increased their price objective on shares of Alkermes from $60.00 to $61.00 and gave the company a "neutral" rating in a research note on Wednesday, July 29th. Royal Bank Of Canada raised their price objective on shares of Alkermes from $45.00 to $56.00 and gave the stock an "outperform" rating in a report on Tuesday, June 9th. HC Wainwright reiterated a "neutral" rating on shares of Alkermes in a research report on Thursday, July 30th. Finally, Piper Sandler reissued an "overweight" rating and issued a $65.00 target price (up from $43.00) on shares of Alkermes in a research note on Tuesday, July 28th.

Insider Activity at Alkermes

In other Alkermes news, EVP David Joseph Gaffin sold 2,034 shares of Alkermes stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $48.58, for a total transaction of $98,811.72. Following the sale, the executive vice president directly owned 225,456 shares of the company's stock, valued at approximately $10,952,652.48. The trade was a 0.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Craig C. Hopkinson sold 9,000 shares of the company's stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $48.58, for a total value of $437,220.00. Following the completion of the sale, the executive vice president owned 69,389 shares in the company, valued at approximately $3,370,917.62. This represents a 11.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 87,150 shares of company stock valued at $4,274,444. Corporate insiders own 4.59% of the company's stock.

Institutional Trading of Alkermes

Large investors have recently bought and sold shares of the stock. California State Teachers Retirement System raised its stake in Alkermes by 5,527.7% during the second quarter. California State Teachers Retirement System now owns 10,343,402 shares of the company's stock worth $541,994,000 after acquiring an additional 10,159,607 shares in the last quarter. Baker BROS. Advisors LP boosted its stake in shares of Alkermes by 23.7% in the 4th quarter. Baker BROS. Advisors LP now owns 10,012,267 shares of the company's stock valued at $280,143,000 after purchasing an additional 1,920,916 shares in the last quarter. State Street Corp grew its holdings in shares of Alkermes by 10.9% in the 4th quarter. State Street Corp now owns 9,472,858 shares of the company's stock worth $265,051,000 after purchasing an additional 932,507 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Alkermes by 6.0% in the 4th quarter. Renaissance Technologies LLC now owns 6,668,028 shares of the company's stock worth $186,571,000 after purchasing an additional 375,500 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Alkermes by 32.0% during the 4th quarter. JPMorgan Chase & Co. now owns 5,184,547 shares of the company's stock worth $145,064,000 after purchasing an additional 1,256,377 shares in the last quarter. 95.21% of the stock is currently owned by institutional investors.

Alkermes Stock Performance

Shares of NASDAQ ALKS opened at $48.90 on Friday. The business has a fifty day simple moving average of $50.86 and a 200 day simple moving average of $40.40. The company has a current ratio of 2.30, a quick ratio of 1.85 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $8.20 billion, a price-to-earnings ratio of 128.69 and a beta of 0.34. Alkermes has a one year low of $25.17 and a one year high of $55.67.

Alkermes Company Profile

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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