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

Alkermes plc (NASDAQ:ALKS) has been assigned a consensus recommendation of “Moderate Buy” from the twelve analysts that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $35.42.

ALKS has been the topic of a number of recent research reports. JPMorgan Chase & Co. lowered their price target on shares of Alkermes from $32.00 to $26.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Cantor Fitzgerald reduced their price objective on shares of Alkermes from $48.00 to $43.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. StockNews.com upgraded shares of Alkermes from a “hold” rating to a “buy” rating in a research note on Sunday, July 28th. The Goldman Sachs Group reduced their price objective on shares of Alkermes from $32.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Finally, Mizuho increased their price objective on shares of Alkermes from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th.

Alkermes Price Performance

NASDAQ:ALKS opened at $28.78 on Friday. Alkermes has a 52 week low of $22.22 and a 52 week high of $32.88. The firm has a market cap of $4.66 billion, a price-to-earnings ratio of 14.76, a P/E/G ratio of 0.91 and a beta of 0.47. The firm’s 50-day simple moving average is $27.86 and its 200 day simple moving average is $26.32. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.03 and a current ratio of 3.45.

Insider Activity

In other news, EVP Craig C. Hopkinson sold 58,996 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $30.08, for a total value of $1,774,599.68. Following the sale, the executive vice president now directly owns 83,300 shares in the company, valued at approximately $2,505,664. This trade represents a 41.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.89% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD raised its holdings in Alkermes by 421.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,326,256 shares of the company’s stock valued at $225,393,000 after buying an additional 6,730,671 shares during the last quarter. Pacer Advisors Inc. raised its holdings in Alkermes by 31.8% in the 2nd quarter. Pacer Advisors Inc. now owns 5,640,642 shares of the company’s stock valued at $135,939,000 after buying an additional 1,362,079 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Alkermes by 14.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,884,012 shares of the company’s stock valued at $69,507,000 after buying an additional 371,039 shares during the last quarter. Armistice Capital LLC raised its holdings in Alkermes by 301.5% in the 2nd quarter. Armistice Capital LLC now owns 2,699,179 shares of the company’s stock valued at $65,050,000 after buying an additional 2,026,961 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in Alkermes by 87.1% in the 2nd quarter. American Century Companies Inc. now owns 2,203,456 shares of the company’s stock valued at $53,103,000 after buying an additional 1,025,905 shares during the last quarter. Institutional investors own 95.21% of the company’s stock.

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.