Alkermes (NASDAQ:ALKS) Price Target Raised to $52.00

Alkermes (NASDAQ:ALKS) had its price objective hoisted by stock analysts at Deutsche Bank Aktiengesellschaft from $40.00 to $52.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective would suggest a potential upside of 54.35% from the stock’s previous close.

Several other brokerages also recently weighed in on ALKS. UBS Group raised shares of Alkermes from a “sell” rating to a “neutral” rating and boosted their target price for the company from $21.00 to $38.00 in a research note on Tuesday, March 4th. HC Wainwright reissued a “neutral” rating and set a $46.00 price objective on shares of Alkermes in a research note on Thursday, February 13th. The Goldman Sachs Group raised their target price on shares of Alkermes from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Royal Bank of Canada assumed coverage on Alkermes in a report on Thursday, March 13th. They issued a “sector perform” rating and a $40.00 price target for the company. Finally, StockNews.com upgraded Alkermes from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 13th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Alkermes currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.38.

Alkermes Stock Down 0.6 %

Alkermes stock opened at $33.69 on Thursday. The firm has a market capitalization of $5.48 billion, a PE ratio of 15.53, a P/E/G ratio of 2.20 and a beta of 0.62. Alkermes has a 52 week low of $22.90 and a 52 week high of $36.45. The firm’s 50-day simple moving average is $33.30 and its 200 day simple moving average is $30.20.

Alkermes (NASDAQ:ALKS) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.81 by $0.11. Alkermes had a net margin of 23.57% and a return on equity of 30.80%. On average, research analysts expect that Alkermes will post 1.31 EPS for the current fiscal year.

Insider Transactions at Alkermes

In other news, EVP Craig C. Hopkinson sold 144,419 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $35.53, for a total value of $5,131,207.07. Following the completion of the sale, the executive vice president now owns 57,875 shares of the company’s stock, valued at $2,056,298.75. This represents a 71.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 4.89% of the company’s stock.

Hedge Funds Weigh In On Alkermes

Several hedge funds and other institutional investors have recently made changes to their positions in the business. RTW Investments LP lifted its stake in shares of Alkermes by 13.6% during the fourth quarter. RTW Investments LP now owns 7,557,835 shares of the company’s stock worth $217,363,000 after purchasing an additional 903,802 shares in the last quarter. Renaissance Technologies LLC grew its position in Alkermes by 1.1% in the fourth quarter. Renaissance Technologies LLC now owns 5,478,728 shares of the company’s stock valued at $157,568,000 after acquiring an additional 57,697 shares in the last quarter. American Century Companies Inc. grew its position in Alkermes by 6.5% in the fourth quarter. American Century Companies Inc. now owns 3,450,707 shares of the company’s stock valued at $99,242,000 after acquiring an additional 209,740 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Alkermes by 4.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,019,508 shares of the company’s stock valued at $86,842,000 after purchasing an additional 128,701 shares during the period. Finally, Avoro Capital Advisors LLC acquired a new position in shares of Alkermes during the fourth quarter worth $70,462,000. Institutional investors and hedge funds own 95.21% of the company’s stock.

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.