Alkermes (NASDAQ:ALKS) Stock Passes Above 200 Day Moving Average – What’s Next?

Alkermes plc (NASDAQ:ALKS) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $40.30 and traded as high as $49.35. Alkermes shares last traded at $49.16, with a volume of 660,776 shares trading hands.

Wall Street Analysts Forecast Growth

ALKS has been the subject of several research reports. Robert W. Baird lifted their target price on Alkermes from $48.00 to $58.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Mizuho raised their price objective on Alkermes from $53.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, July 2nd. Wells Fargo & Company lifted their price objective on shares of Alkermes from $44.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, June 29th. HC Wainwright reiterated a “neutral” rating on shares of Alkermes in a research note on Thursday, July 30th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Alkermes in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $54.56.

Alkermes Price Performance

The company has a debt-to-equity ratio of 0.82, a current ratio of 2.30 and a quick ratio of 1.85. The company has a fifty day moving average price of $50.86 and a 200 day moving average price of $40.40. The company has a market capitalization of $8.00 billion, a P/E ratio of 125.45 and a beta of 0.34.

Insider Transactions at Alkermes

In related news, SVP Christian Todd Nichols sold 7,576 shares of Alkermes stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $49.23, for a total value of $372,966.48. Following the sale, the senior vice president directly owned 102,193 shares in the company, valued at $5,030,961.39. This trade represents a 6.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christopher I. Wright sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $45.10, for a total value of $90,200.00. Following the completion of the sale, the director owned 25,680 shares in the company, valued at approximately $1,158,168. This represents a 7.23% 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. Insiders sold 87,150 shares of company stock valued at $4,274,444 over the last three months. 4.59% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Sanctuary Advisors LLC raised its stake in shares of Alkermes by 2.7% during the fourth quarter. Sanctuary Advisors LLC now owns 12,141 shares of the company’s stock valued at $340,000 after purchasing an additional 315 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Alkermes by 3.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 10,326 shares of the company’s stock valued at $289,000 after buying an additional 351 shares in the last quarter. Versant Capital Management Inc increased its stake in Alkermes by 33.9% during the 2nd quarter. Versant Capital Management Inc now owns 1,445 shares of the company’s stock valued at $76,000 after buying an additional 366 shares during the period. Orion Porfolio Solutions LLC increased its stake in Alkermes by 4.5% during the 3rd quarter. Orion Porfolio Solutions LLC now owns 8,762 shares of the company’s stock valued at $263,000 after buying an additional 376 shares during the period. Finally, Horizon Investments LLC raised its position in shares of Alkermes by 0.9% during the 3rd quarter. Horizon Investments LLC now owns 43,002 shares of the company’s stock worth $1,290,000 after buying an additional 387 shares in the last quarter. Institutional investors own 95.21% of the company’s stock.

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.