Alkermes (NASDAQ:ALKS) Upgraded by Mizuho to “Strong-Buy” Rating

Mizuho upgraded shares of Alkermes (NASDAQ:ALKS) to a strong-buy rating in a report published on Wednesday,Zacks reports.

Other equities analysts have also recently issued research reports about the company. TD Cowen raised their price target on Alkermes from $42.00 to $50.00 and gave the company a “buy” rating in a report on Monday, June 22nd. Bank of America reissued an “underperform” rating on shares of Alkermes in a report on Monday, June 29th. Stifel Nicolaus restated a “buy” rating and set a $63.00 target price (up from $45.00) on shares of Alkermes in a research report on Monday, July 20th. Wells Fargo & Company raised their target price on shares of Alkermes from $44.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, June 29th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Alkermes in a research report on Friday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Alkermes presently has an average rating of “Moderate Buy” and a consensus price target of $54.56.

Alkermes Stock Up 1.4%

NASDAQ:ALKS opened at $46.71 on Wednesday. The stock’s fifty day moving average price is $49.15 and its two-hundred day moving average price is $41.84. Alkermes has a 52-week low of $26.99 and a 52-week high of $55.67. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.85 and a current ratio of 2.30. The company has a market cap of $7.84 billion, a price-to-earnings ratio of 122.92 and a beta of 0.31.

Insider Buying and Selling

In related news, Director Nancy Lynn Md Snyderman sold 44,472 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $50.35, for a total transaction of $2,239,165.20. Following the completion of the transaction, the director owned 15,395 shares in the company, valued at approximately $775,138.25. The trade was a 74.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Craig Hopkinson sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $46.99, for a total transaction of $422,910.00. Following the completion of the sale, the executive vice president directly owned 65,389 shares of the company’s stock, valued at $3,072,629.11. The trade was a 12.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 85,150 shares of company stock valued at $4,242,213. Insiders own 4.59% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALKS. Cullen Frost Bankers Inc. bought a new stake in shares of Alkermes in the fourth quarter valued at about $28,000. Ameritas Advisory Services LLC bought a new position in shares of Alkermes during the second quarter worth about $39,000. Hantz Financial Services Inc. raised its position in Alkermes by 65.1% in the 4th quarter. Hantz Financial Services Inc. now owns 2,045 shares of the company’s stock valued at $57,000 after buying an additional 806 shares during the last quarter. Leonteq Securities AG bought a new stake in Alkermes in the 4th quarter valued at approximately $70,000. Finally, Versant Capital Management Inc lifted its stake in Alkermes by 33.9% in the 2nd quarter. Versant Capital Management Inc now owns 1,445 shares of the company’s stock valued at $76,000 after acquiring an additional 366 shares in the last quarter. 95.21% of the stock is currently owned by institutional investors.

Alkermes Company Profile

Alkermes plc (NASDAQ: ALKS) is a biopharmaceutical company focused on developing and commercializing medicines for central nervous system diseases. Its research and development activities include treatments for schizophrenia, bipolar disorder, addiction and other serious neurological or psychiatric conditions, with an emphasis on long-acting injectable and extended-release formulations.

The company’s marketed products include VIVITROL, an extended-release injectable form of naltrexone used to treat alcohol dependence and prevent relapse to opioid dependence after detoxification; ARISTADA, an extended-release injectable formulation of aripiprazole lauroxil for the treatment of schizophrenia in adults; and LYBALVI, an oral combination of olanzapine and samidorphan approved for schizophrenia and bipolar I disorder in adults.

Founded in Ireland in 1987, Alkermes has developed drug-delivery technologies intended to help extend dosing intervals and support medication adherence.