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

Shares of Alkermes plc (NASDAQ:ALKS) have been assigned a consensus recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $40.00.

Several research firms have weighed in on ALKS. UBS Group upgraded Alkermes from a “neutral” rating to a “buy” rating and boosted their price target for the company from $33.00 to $42.00 in a research note on Tuesday, June 17th. Deutsche Bank Aktiengesellschaft lifted their target price on Alkermes from $40.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. Royal Bank Of Canada upped their target price on Alkermes from $39.00 to $40.00 and gave the company a “sector perform” rating in a research report on Friday, May 2nd. Needham & Company LLC assumed coverage on shares of Alkermes in a research report on Wednesday, May 28th. They set a “buy” rating and a $45.00 price target for the company. Finally, Robert W. Baird lifted their price objective on shares of Alkermes from $38.00 to $41.00 and gave the company an “outperform” rating in a research note on Friday, May 2nd.

Insider Transactions at Alkermes

In other Alkermes news, SVP Christian Todd Nichols sold 3,334 shares of the company’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 value of $103,654.06. Following the sale, the senior vice president owned 86,208 shares in the company, valued at approximately $2,680,206.72. This represents a 3.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Alkermes

Institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its holdings in Alkermes by 488.6% during the first quarter. JPMorgan Chase & Co. now owns 5,234,995 shares of the company’s stock worth $172,860,000 after buying an additional 4,345,523 shares in the last quarter. Avoro Capital Advisors LLC acquired a new position in shares of Alkermes in the fourth quarter worth about $70,462,000. Nuveen LLC acquired a new position in shares of Alkermes in the first quarter worth about $66,689,000. Norges Bank purchased a new stake in shares of Alkermes during the 4th quarter worth about $56,684,000. Finally, RTW Investments LP boosted its stake in shares of Alkermes by 13.6% during the 4th quarter. RTW Investments LP now owns 7,557,835 shares of the company’s stock worth $217,363,000 after acquiring an additional 903,802 shares in the last quarter. 95.21% of the stock is owned by hedge funds and other institutional investors.

Alkermes Trading Down 0.9%

Shares of Alkermes stock opened at $28.75 on Friday. The firm’s 50 day simple moving average is $30.10 and its two-hundred day simple moving average is $30.90. The firm has a market capitalization of $4.74 billion, a price-to-earnings ratio of 13.76, a PEG ratio of 1.80 and a beta of 0.44. Alkermes has a 12-month low of $22.90 and a 12-month high of $36.45.

Alkermes (NASDAQ:ALKS) last announced its quarterly earnings data 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 net margin of 23.30% and a return on equity of 27.52%. The company had revenue of $306.51 million for the quarter, compared to analysts’ expectations of $307.53 million. During the same period last year, the firm earned $0.43 earnings per share. Alkermes’s quarterly revenue was down 12.6% compared to the same quarter last year. On average, sell-side analysts predict 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.