By otakuyassine3@gmail.com 
Deutsche Bank Aktiengesellschaft started coverage on shares of Alkermes (NASDAQ:ALKS – Free Report) in a research note issued to investors on Tuesday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $40.00 price target on the stock.
Several other equities research analysts have also commented on the company. JPMorgan Chase & Co. decreased their price target on Alkermes from $32.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Piper Sandler reiterated an “overweight” rating and set a $37.00 target price (down from $38.00) on shares of Alkermes in a research report on Friday, October 25th. Mizuho raised their price target on Alkermes from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Cantor Fitzgerald decreased their price objective on shares of Alkermes from $48.00 to $43.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Finally, HC Wainwright restated a “neutral” rating and set a $37.00 target price on shares of Alkermes in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.33.
Get Our Latest Analysis on ALKS
Alkermes Stock Up 2.3 %
Shares of NASDAQ ALKS opened at $31.96 on Tuesday. The stock has a market capitalization of $5.17 billion, a price-to-earnings ratio of 16.39, a price-to-earnings-growth ratio of 1.83 and a beta of 0.49. Alkermes has a 52 week low of $22.90 and a 52 week high of $32.88. The firm has a 50-day moving average price of $30.11 and a 200 day moving average price of $28.62. The company has a quick ratio of 3.03, a current ratio of 3.45 and a debt-to-equity ratio of 0.22.
Insider Transactions at Alkermes
In other Alkermes news, Director Cato T. Laurencin sold 2,691 shares of Alkermes stock in a transaction on Monday, December 9th. The shares were sold at an average price of $31.85, for a total value of $85,708.35. Following the transaction, the director now owns 23,013 shares in the company, valued at $732,964.05. This trade represents a 10.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Craig C. Hopkinson sold 100,918 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $32.05, for a total value of $3,234,421.90. Following the sale, the executive vice president now owns 44,290 shares of the company’s stock, valued at approximately $1,419,494.50. The trade was a 69.50 % 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 over the last quarter. 4.89% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Alkermes
A number of institutional investors have recently added to or reduced their stakes in ALKS. Venturi Wealth Management LLC acquired a new position in shares of Alkermes during the 4th quarter valued at $25,000. V Square Quantitative Management LLC purchased a new position in Alkermes in the third quarter valued at about $29,000. EverSource Wealth Advisors LLC raised 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 valued at $47,000 after purchasing an additional 842 shares during the period. Blue Trust Inc. boosted its position in shares of 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 during the period. Finally, Smartleaf Asset Management LLC grew its stake in shares of Alkermes by 558.5% in the fourth 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 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.
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