Alkermes (NASDAQ:ALKS) Stock Price Up 5.4% – Time to Buy?

Alkermes plc (NASDAQ:ALKS) shares rose 5.4% during trading on Thursday . The stock traded as high as $31.89 and last traded at $31.83. Approximately 1,094,950 shares changed hands during mid-day trading, a decline of 18% from the average daily volume of 1,331,394 shares. The stock had previously closed at $30.21.

Wall Street Analysts Forecast Growth

ALKS has been the subject of several recent analyst reports. HC Wainwright restated a “neutral” rating and issued a $37.00 price target on shares of Alkermes in a report on Friday, October 25th. The Goldman Sachs Group lowered their price target on Alkermes from $32.00 to $30.00 and set a “buy” rating for the company in a report on Friday, October 25th. Stifel Nicolaus upgraded Alkermes from a “hold” rating to a “buy” rating and lifted their price target for the company from $25.00 to $36.00 in a report on Tuesday, November 5th. JPMorgan Chase & Co. lowered their price target on Alkermes from $32.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Finally, Mizuho lifted their price target on Alkermes from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $36.00.

Alkermes Stock Down 1.8 %

The firm has a 50-day moving average of $29.51 and a 200 day moving average of $28.05. The stock has a market capitalization of $5.05 billion, a price-to-earnings ratio of 15.99, a price-to-earnings-growth ratio of 1.56 and a beta of 0.49. The company has a current ratio of 3.45, a quick ratio of 3.03 and a debt-to-equity ratio of 0.22.

Insider Buying and Selling

In other Alkermes news, SVP Christian Todd Nichols sold 5,208 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $29.15, for a total value of $151,813.20. Following the transaction, the senior vice president now directly owns 60,703 shares of the company’s stock, valued at $1,769,492.45. This represents a 7.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Craig C. Hopkinson sold 61,151 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $32.07, for a total value of $1,961,112.57. Following the completion of the transaction, the executive vice president now directly owns 47,576 shares in the company, valued at approximately $1,525,762.32. The trade was a 56.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 147,738 shares of company stock valued at $4,572,904. Corporate insiders own 4.89% of the company’s stock.

Hedge Funds Weigh In On Alkermes

A number of institutional investors have recently made changes to their positions in the business. Handelsbanken Fonder AB raised its position in shares of Alkermes by 0.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 220,600 shares of the company’s stock valued at $6,175,000 after purchasing an additional 700 shares in the last quarter. Nicollet Investment Management Inc. raised its position in shares of Alkermes by 1.7% in the 3rd quarter. Nicollet Investment Management Inc. now owns 43,845 shares of the company’s stock valued at $1,227,000 after purchasing an additional 714 shares in the last quarter. KBC Group NV raised its position in shares of Alkermes by 18.8% in the 3rd quarter. KBC Group NV now owns 4,890 shares of the company’s stock valued at $137,000 after purchasing an additional 774 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Alkermes by 3.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 30,950 shares of the company’s stock valued at $890,000 after acquiring an additional 897 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Alkermes by 17.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,956 shares of the company’s stock valued at $164,000 after acquiring an additional 904 shares during the last quarter. 95.21% of the stock is owned by institutional investors and hedge funds.

Alkermes Company Profile

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.