Alkermes (NASDAQ:ALKS - Get Free Report) had its target price cut by analysts at UBS Group from $38.00 to $33.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. UBS Group's target price would suggest a potential upside of 18.24% from the company's current price.
Other equities research analysts also recently issued reports about the stock. Royal Bank of Canada started coverage on shares of Alkermes in a research report on Thursday, March 13th. They issued a "sector perform" rating and a $40.00 price target for the company. Deutsche Bank Aktiengesellschaft upped their target price on Alkermes from $40.00 to $52.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. The Goldman Sachs Group boosted their price target on Alkermes from $30.00 to $32.00 and gave the company a "buy" rating in a research note on Friday, February 14th. StockNews.com upgraded shares of Alkermes from a "buy" rating to a "strong-buy" rating in a research note on Thursday, February 13th. Finally, HC Wainwright reaffirmed a "neutral" rating and set a $46.00 price target on shares of Alkermes in a report on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $38.08.
Read Our Latest Research Report on ALKS
Alkermes Stock Performance
NASDAQ:ALKS traded up $0.07 during mid-day trading on Monday, hitting $27.91. 1,517,298 shares of the stock were exchanged, compared to its average volume of 1,758,301. The firm's 50-day simple moving average is $31.92 and its 200 day simple moving average is $30.43. Alkermes has a fifty-two week low of $22.90 and a fifty-two week high of $36.45. The stock has a market capitalization of $4.60 billion, a price-to-earnings ratio of 12.86, a price-to-earnings-growth ratio of 2.20 and a beta of 0.39.
Alkermes (NASDAQ:ALKS - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.81 by $0.11. Alkermes had a net margin of 23.57% and a return on equity of 30.80%. On average, analysts predict that Alkermes will post 1.31 EPS for the current fiscal year.
Insider Activity
In other news, EVP Craig C. Hopkinson sold 144,419 shares of the stock in a transaction dated 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 completion of 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 4.40% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Alkermes
A number of institutional investors have recently modified their holdings of the company. Barclays PLC raised its position in shares of Alkermes by 108.8% in the 3rd quarter. Barclays PLC now owns 423,931 shares of the company's stock worth $11,867,000 after acquiring an additional 220,893 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Alkermes during the 3rd quarter worth approximately $582,000. Tidal Investments LLC acquired a new stake in shares of Alkermes during the 3rd quarter worth approximately $1,098,000. Franklin Resources Inc. increased its stake in shares of Alkermes by 2.5% in the 3rd quarter. Franklin Resources Inc. now owns 120,006 shares of the company's stock valued at $3,486,000 after acquiring an additional 2,903 shares in the last quarter. Finally, Diversified Trust Co lifted its position in shares of Alkermes by 11.5% during the 4th quarter. Diversified Trust Co now owns 42,509 shares of the company's stock valued at $1,223,000 after acquiring an additional 4,378 shares during the period. 95.21% of the stock is owned by institutional investors.
About Alkermes
(
Get Free Report)
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.
Further Reading
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