Deutsche Bank Aktiengesellschaft Begins Coverage on Alkermes (NASDAQ:ALKS)

Deutsche Bank Aktiengesellschaft began coverage on shares of Alkermes (NASDAQ:ALKS) in a report published on Tuesday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $40.00 price objective on the stock.

A number of other research analysts also recently weighed in on the company. The Goldman Sachs Group reduced their target price on Alkermes from $32.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Piper Sandler reiterated an “overweight” rating and set a $37.00 target price (down previously from $38.00) on shares of Alkermes in a report on Friday, October 25th. Cantor Fitzgerald reduced their target price on Alkermes from $48.00 to $43.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. HC Wainwright reiterated a “neutral” rating and set a $37.00 target price on shares of Alkermes in a report on Friday, October 25th. Finally, JPMorgan Chase & Co. reduced their target price on Alkermes from $32.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.08.

Alkermes Trading Up 7.5 %

ALKS opened at $36.00 on Tuesday. The business has a 50 day simple moving average of $30.21 and a two-hundred day simple moving average of $28.68. The firm has a market capitalization of $5.82 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 1.83 and a beta of 0.49. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.45 and a quick ratio of 3.03. Alkermes has a one year low of $22.90 and a one year high of $36.06.

Alkermes (NASDAQ:ALKS) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.11. Alkermes had a return on equity of 24.92% and a net margin of 22.15%. Analysts predict that Alkermes will post 2.23 EPS for the current year.

Insider Buying and Selling

In other Alkermes news, Director Cato T. Laurencin sold 2,691 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $31.85, for a total transaction of $85,708.35. Following the sale, the director now directly owns 23,013 shares in the company, valued at approximately $732,964.05. This trade represents a 10.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Craig C. Hopkinson sold 9,221 shares of the stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $31.50, for a total value of $290,461.50. Following the sale, the executive vice president now owns 59,730 shares in the company, valued at approximately $1,881,495. This represents a 13.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 179,189 shares of company stock worth $5,723,518 in the last 90 days. Insiders own 4.89% of the company’s stock.

Institutional Trading of Alkermes

Institutional investors have recently added to or reduced their stakes in the business. Venturi Wealth Management LLC purchased a new stake in Alkermes during the 4th quarter valued at $25,000. V Square Quantitative Management LLC purchased a new stake in Alkermes during the 3rd quarter valued at $29,000. EverSource Wealth Advisors LLC lifted its holdings in shares of 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 buying an additional 842 shares during the period. Blue Trust Inc. lifted its holdings in shares of 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 buying an additional 1,629 shares during the period. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of 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 buying an additional 2,502 shares during the period. 95.21% of the stock is currently owned by hedge funds and other 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.