Alkermes (NASDAQ:ALKS) Given New $40.00 Price Target at Mizuho

Alkermes (NASDAQ:ALKS) had its price target boosted by Mizuho from $35.00 to $40.00 in a research note released on Wednesday,Benzinga reports. Mizuho currently has an outperform rating on the stock.

A number of other research analysts also recently issued reports on ALKS. The Goldman Sachs Group dropped their price target on Alkermes from $32.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. JPMorgan Chase & Co. lowered their target price on Alkermes from $32.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Robert W. Baird lifted their target price on Alkermes from $37.00 to $38.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Piper Sandler reiterated an “overweight” rating and issued a $37.00 target price (down from $38.00) on shares of Alkermes in a research note on Friday, October 25th. Finally, HC Wainwright reiterated a “neutral” rating and issued a $37.00 target price on shares of Alkermes in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Alkermes presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.42.

Alkermes Trading Down 0.6 %

ALKS opened at $28.19 on Wednesday. Alkermes has a one year low of $22.06 and a one year high of $32.88. The company has a market cap of $4.56 billion, a P/E ratio of 14.46, a PEG ratio of 0.98 and a beta of 0.47. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.03 and a current ratio of 3.45. The business’s 50-day simple moving average is $27.76 and its 200-day simple moving average is $26.20.

Insider Buying and Selling

In other news, EVP Craig C. Hopkinson sold 58,996 shares of the company’s stock in a transaction on Monday, November 11th. The stock was 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 $2,505,664. This represents a 41.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.89% of the stock is currently owned by insiders.

Institutional Trading of Alkermes

Several institutional investors and hedge funds have recently made changes to their positions in ALKS. Sei Investments Co. lifted its position in shares of Alkermes by 10.1% in the first quarter. Sei Investments Co. now owns 77,942 shares of the company’s stock valued at $2,110,000 after acquiring an additional 7,178 shares in the last quarter. ProShare Advisors LLC increased its stake in Alkermes by 8.0% in the first quarter. ProShare Advisors LLC now owns 45,172 shares of the company’s stock valued at $1,223,000 after purchasing an additional 3,350 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in Alkermes by 9.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 51,760 shares of the company’s stock valued at $1,459,000 after purchasing an additional 4,410 shares during the last quarter. Acadian Asset Management LLC increased its stake in Alkermes by 70.6% in the first quarter. Acadian Asset Management LLC now owns 25,781 shares of the company’s stock valued at $697,000 after purchasing an additional 10,671 shares during the last quarter. Finally, Edgestream Partners L.P. increased its stake in Alkermes by 206.1% in the first quarter. Edgestream Partners L.P. now owns 79,609 shares of the company’s stock valued at $2,155,000 after purchasing an additional 53,600 shares during the last quarter. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

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.