Alkermes (NASDAQ:ALKS) Now Covered by Analysts at Deutsche Bank Aktiengesellschaft

Equities researchers at Deutsche Bank Aktiengesellschaft started coverage on shares of Alkermes (NASDAQ:ALKS) in a report issued on Tuesday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $40.00 price target on the stock. Deutsche Bank Aktiengesellschaft’s price objective would indicate a potential upside of 28.08% from the stock’s current price.

ALKS has been the subject of several other reports. The Goldman Sachs Group reduced their price objective on Alkermes from $32.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Mizuho boosted their price objective on Alkermes from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. HC Wainwright reiterated a “neutral” rating and set a $37.00 price objective on shares of Alkermes in a research report on Friday, October 25th. Piper Sandler reiterated an “overweight” rating and set a $37.00 price objective (down from $38.00) on shares of Alkermes in a research report on Friday, October 25th. Finally, Stifel Nicolaus raised Alkermes from a “hold” rating to a “buy” rating and boosted their target price for the stock from $25.00 to $36.00 in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $36.33.

Alkermes Stock Performance

Shares of NASDAQ ALKS opened at $31.23 on Tuesday. The company has a current ratio of 3.45, a quick ratio of 3.03 and a debt-to-equity ratio of 0.22. The stock has a 50 day simple moving average of $30.08 and a 200-day simple moving average of $28.60. The company has a market cap of $5.05 billion, a PE ratio of 16.02, a P/E/G ratio of 1.83 and a beta of 0.49. Alkermes has a 12-month low of $22.90 and a 12-month high of $32.88.

Insider Buying and Selling at Alkermes

In other Alkermes news, Director Cato T. Laurencin sold 2,691 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $31.85, for a total value of $85,708.35. Following the transaction, the director now owns 23,013 shares of the company’s stock, valued at approximately $732,964.05. This represents a 10.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Craig C. Hopkinson sold 100,918 shares of the company’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $32.05, for a total value of $3,234,421.90. Following the completion of the transaction, the executive vice president now directly owns 44,290 shares in the company, valued at $1,419,494.50. This represents a 69.50 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 179,189 shares of company stock valued at $5,723,518. Corporate insiders own 4.89% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Venturi Wealth Management LLC acquired a new stake in Alkermes during the 4th quarter valued at $25,000. V Square Quantitative Management LLC acquired a new stake in Alkermes during the 3rd quarter valued at $29,000. EverSource Wealth Advisors LLC raised its stake in Alkermes by 106.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,635 shares of the company’s stock valued at $47,000 after purchasing an additional 842 shares during the period. Blue Trust Inc. raised its stake in Alkermes by 2,231.5% during the 4th quarter. Blue Trust Inc. now owns 1,702 shares of the company’s stock valued at $49,000 after purchasing an additional 1,629 shares during the period. Finally, Smartleaf Asset Management LLC raised its stake in Alkermes by 558.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,950 shares of the company’s stock valued at $85,000 after purchasing an additional 2,502 shares during the period. 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.