Analysts Set Alkermes plc (NASDAQ:ALKS) Target Price at $38.85

Alkermes plc (NASDAQ:ALKS) has received an average recommendation of “Moderate Buy” from the thirteen brokerages that are covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $38.85.

Several equities research analysts recently weighed in on ALKS shares. Royal Bank of Canada upped their price objective on shares of Alkermes from $39.00 to $40.00 and gave the stock a “sector perform” rating in a report on Friday, May 2nd. Robert W. Baird upped their price target on shares of Alkermes from $38.00 to $41.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. UBS Group reiterated a “sector perform” rating on shares of Alkermes in a report on Monday, April 28th. Wall Street Zen cut Alkermes from a “strong-buy” rating to a “buy” rating in a report on Monday, May 5th. Finally, Needham & Company LLC began coverage on Alkermes in a research report on Wednesday, May 28th. They issued a “buy” rating and a $45.00 target price for the company.

Alkermes Price Performance

Shares of ALKS stock opened at $31.71 on Wednesday. Alkermes has a 12-month low of $22.90 and a 12-month high of $36.45. The firm has a market capitalization of $5.23 billion, a price-to-earnings ratio of 14.61, a price-to-earnings-growth ratio of 2.20 and a beta of 0.47. The business has a 50 day simple moving average of $29.62 and a 200 day simple moving average of $30.99.

Alkermes (NASDAQ:ALKS) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.19). The business had revenue of $306.51 million for the quarter, compared to analyst estimates of $307.53 million. Alkermes had a return on equity of 30.80% and a net margin of 23.57%. The company’s revenue was down 12.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.43 EPS. On average, equities analysts anticipate that Alkermes will post 1.31 EPS for the current fiscal year.

Institutional Trading of Alkermes

A number of large investors have recently added to or reduced their stakes in the business. Venturi Wealth Management LLC purchased a new stake in shares of Alkermes during the fourth quarter valued at $25,000. Twin Tree Management LP acquired a new stake in Alkermes during the 1st quarter worth about $29,000. Brooklyn Investment Group lifted its stake in Alkermes by 1,071.1% during the first quarter. Brooklyn Investment Group now owns 1,054 shares of the company’s stock valued at $35,000 after buying an additional 964 shares in the last quarter. Quantbot Technologies LP lifted its stake in Alkermes by 54.5% during the first quarter. Quantbot Technologies LP now owns 1,091 shares of the company’s stock valued at $36,000 after buying an additional 385 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Alkermes by 106.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,635 shares of the company’s stock worth $47,000 after buying an additional 842 shares during the period. 95.21% of the stock is currently owned by institutional investors.

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.