Alkermes plc (NASDAQ:ALKS) Stock Rated “Moderate Buy” by Sell-Side Brokerages

Shares of Alkermes plc (NASDAQ:ALKS) have earned an average rating of “Moderate Buy” from the nineteen analysts that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation, eleven have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $54.47.

A number of research firms have commented on ALKS. JPMorgan Chase & Co. raised their price objective on Alkermes from $60.00 to $61.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 29th. Mizuho upgraded shares of Alkermes to a “strong-buy” rating in a research report on Wednesday, September 16th. TD Cowen reaffirmed a “buy” rating on shares of Alkermes in a research note on Monday, September 21st. Wells Fargo & Company increased their price objective on Alkermes from $44.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Finally, Robert W. Baird boosted their price target on shares of Alkermes from $58.00 to $61.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 22nd.

Alkermes Stock Performance

Shares of NASDAQ:ALKS opened at $40.15 on Tuesday. Alkermes has a 12-month low of $27.00 and a 12-month high of $55.67. The company’s 50 day moving average price is $47.77 and its two-hundred day moving average price is $42.50. The firm has a market cap of $6.74 billion, a PE ratio of 105.66 and a beta of 0.31. The company has a quick ratio of 1.85, a current ratio of 2.30 and a debt-to-equity ratio of 0.82.

Insiders Place Their Bets

In other Alkermes news, Director Nancy Lynn Md Snyderman sold 44,472 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $50.35, for a total transaction of $2,239,165.20. Following the transaction, the director directly owned 15,395 shares in the company, valued at approximately $775,138.25. This represents a 74.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Craig C. Hopkinson sold 9,000 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $48.58, for a total transaction of $437,220.00. Following the transaction, the executive vice president directly 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. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 85,150 shares of company stock valued at $4,242,213 in the last ninety days. 4.59% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Baker BROS. Advisors LP raised its holdings 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 worth $280,143,000 after acquiring an additional 1,920,916 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Alkermes by 2.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,522,378 shares of the company’s stock valued at $159,850,000 after purchasing an additional 109,595 shares during the last quarter. Commodore Capital LP boosted its stake in Alkermes by 18.3% during the 1st quarter. Commodore Capital LP now owns 4,200,000 shares of the company’s stock valued at $148,512,000 after purchasing an additional 650,000 shares during the last quarter. Geode Capital Management LLC increased its holdings in Alkermes by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 4,080,776 shares of the company’s stock worth $114,198,000 after purchasing an additional 19,382 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in Alkermes by 104.2% during the 1st quarter. First Trust Advisors LP now owns 2,968,785 shares of the company’s stock worth $104,976,000 after purchasing an additional 1,514,783 shares in the last quarter. 95.21% of the stock is owned by institutional investors.

About Alkermes

Alkermes plc (NASDAQ: ALKS) is a biopharmaceutical company focused on developing and commercializing medicines for central nervous system diseases. Its research and development activities include treatments for schizophrenia, bipolar disorder, addiction and other serious neurological or psychiatric conditions, with an emphasis on long-acting injectable and extended-release formulations.

The company’s marketed products include VIVITROL, an extended-release injectable form of naltrexone used to treat alcohol dependence and prevent relapse to opioid dependence after detoxification; ARISTADA, an extended-release injectable formulation of aripiprazole lauroxil for the treatment of schizophrenia in adults; and LYBALVI, an oral combination of olanzapine and samidorphan approved for schizophrenia and bipolar I disorder in adults.

Founded in Ireland in 1987, Alkermes has developed drug-delivery technologies intended to help extend dosing intervals and support medication adherence.