The Goldman Sachs Group Issues Positive Forecast for Alkermes (NASDAQ:ALKS) Stock Price

Alkermes (NASDAQ:ALKS) had its price objective increased by The Goldman Sachs Group from $30.00 to $32.00 in a report released on Friday,Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts have also recently weighed in on ALKS. StockNews.com upgraded Alkermes from a “buy” rating to a “strong-buy” rating in a research note on Thursday. HC Wainwright restated a “neutral” rating and issued a $46.00 price target on shares of Alkermes in a research note on Thursday. Deutsche Bank Aktiengesellschaft started coverage on Alkermes in a research note on Tuesday. They issued a “buy” rating and a $40.00 price target for the company. Piper Sandler restated an “overweight” rating and issued a $37.00 price target (down previously from $38.00) on shares of Alkermes in a research note on Friday, October 25th. Finally, Cantor Fitzgerald decreased their price target on Alkermes from $48.00 to $43.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $37.25.

Alkermes Stock Down 0.3 %

Shares of NASDAQ:ALKS opened at $35.89 on Friday. The stock has a fifty day simple moving average of $30.31 and a two-hundred day simple moving average of $28.73. The stock has a market capitalization of $5.81 billion, a price-to-earnings ratio of 18.41, a PEG 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 $36.25. The company has a current ratio of 3.45, a quick ratio of 3.03 and a debt-to-equity ratio of 0.22.

Alkermes (NASDAQ:ALKS) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.92 earnings per share (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%. On average, research analysts anticipate that Alkermes will post 2.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Alkermes news, Director Cato T. Laurencin sold 2,691 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $31.85, for a total value of $85,708.35. Following the completion of the sale, the director now owns 23,013 shares in the company, valued at $732,964.05. This represents a 10.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Christian Todd Nichols sold 5,208 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $29.15, for a total value of $151,813.20. Following the completion of the sale, the senior vice president now owns 60,703 shares of the company’s stock, valued at approximately $1,769,492.45. The trade was a 7.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 323,608 shares of company stock valued at $10,854,725 over the last 90 days. Company insiders own 4.89% of the company’s stock.

Institutional Trading of Alkermes

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Venturi Wealth Management LLC purchased a new stake in Alkermes in the fourth quarter worth about $25,000. V Square Quantitative Management LLC purchased a new stake in Alkermes in the third quarter worth about $29,000. EverSource Wealth Advisors LLC increased its position in 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 in the last quarter. Blue Trust Inc. increased its position in Alkermes by 2,231.5% in the fourth quarter. Blue Trust Inc. now owns 1,702 shares of the company’s stock worth $49,000 after buying an additional 1,629 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its position in shares of Alkermes by 558.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,950 shares of the company’s stock worth $85,000 after purchasing an additional 2,502 shares in the last quarter. Hedge funds and other institutional investors 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.