Alkermes (NASDAQ:ALKS) Price Target Raised to $52.00 at Deutsche Bank Aktiengesellschaft

Alkermes (NASDAQ:ALKS) had its price objective raised by Deutsche Bank Aktiengesellschaft from $40.00 to $52.00 in a research report released on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

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

Alkermes Stock Down 0.5 %

Shares of Alkermes stock opened at $33.53 on Thursday. Alkermes has a 12-month low of $22.90 and a 12-month high of $36.45. The stock has a market capitalization of $5.45 billion, a P/E ratio of 15.45, a PEG ratio of 2.20 and a beta of 0.62. The stock has a 50 day moving average price of $33.38 and a two-hundred day moving average price of $30.22.

Alkermes (NASDAQ:ALKS) last posted its earnings results 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 net margin of 23.57% and a return on equity of 30.80%. Sell-side analysts anticipate that Alkermes will post 1.31 earnings per share for the current year.

Insider Buying and Selling at Alkermes

In other news, EVP Craig C. Hopkinson sold 144,419 shares of the business’s 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 sale, the executive vice president now owns 57,875 shares in the company, valued at approximately $2,056,298.75. The trade was a 71.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.89% of the company’s stock.

Institutional Investors Weigh In On Alkermes

A number of hedge funds have recently made changes to their positions in the company. Centiva Capital LP bought a new stake in Alkermes during the third quarter worth about $367,000. Natixis Advisors LLC boosted its holdings in shares of Alkermes by 36.8% in the 4th quarter. Natixis Advisors LLC now owns 49,922 shares of the company’s stock worth $1,436,000 after acquiring an additional 13,432 shares in the last quarter. Sanctuary Advisors LLC grew its position in Alkermes by 254.5% during the 3rd quarter. Sanctuary Advisors LLC now owns 32,791 shares of the company’s stock worth $944,000 after acquiring an additional 23,541 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in Alkermes by 74.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 149,493 shares of the company’s stock valued at $4,184,000 after purchasing an additional 63,939 shares in the last quarter. Finally, Barclays PLC raised its position in Alkermes by 108.8% in the 3rd quarter. Barclays PLC now owns 423,931 shares of the company’s stock valued at $11,867,000 after purchasing an additional 220,893 shares during the last quarter. Institutional investors and hedge funds own 95.21% of the company’s stock.

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.