Alkermes plc (NASDAQ:ALKS) marked $25.90 per share on Thursday, up from a previous closing price of $25.32. While Alkermes plc has overperformed by 2.29%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, ALKS fell by -7.40%, with highs and lows ranging from $33.00 to $21.24, whereas the simple moving average fell by -2.70% in the last 200 days.
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On April 22, 2022, Goldman started tracking Alkermes plc (NASDAQ: ALKS) recommending Buy. A report published by Goldman on April 20, 2022, Initiated its previous ‘Buy’ rating for ALKS. Cantor Fitzgerald also Upgraded ALKS shares as ‘Overweight’, setting a target price of $32 on the company’s shares in a report dated January 27, 2022. Citigroup Initiated an Neutral rating on December 01, 2021, and assigned a price target of $22. Jefferies October 07, 2021d its ‘Hold’ rating to ‘Buy’ for ALKS, as published in its report on October 07, 2021. BofA Securities’s report from September 02, 2021 suggests a price prediction of $27 for ALKS shares, giving the stock a ‘Underperform’ rating. Mizuho also rated the stock as ‘Buy’.
Analysis of Alkermes plc (ALKS)
Further, the quarter-over-quarter decrease in sales is -9.10%, showing a negative trend in the upcoming months.
In order to gain a clear picture of Alkermes plc’s future performance, a variety of well-rounded analysis and research techniques can be applied, with equity being the most critical. The goal here is to ensure that your current return on equity of -8.60% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 2.00, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
An average volume of 1.57M can be a very valuable indicator of volatility for ALKS stock. On a monthly basis, the volatility of the stock is set at 3.80%, whereas on a weekly basis, it is put at 3.49%, with a loss of -2.45% over the past seven days. Furthermore, long-term investors anticipate a median target price of $31.78, showing growth from the present price of $25.90, which can serve as yet another indication of whether ALKS is worth investing in or should be passed over.
How Do You Analyze Alkermes plc Shares?
In addition to the fundamentals, you should also consider how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 1.10%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 99.30% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in ALKS shares?
The recent increase in stakes in ALKS appears to be a result of several institutional investors and hedge funds increasing their positions. The Vanguard Group, Inc.’s position in ALKS has decreased by -0.49% in the first quarter. The company now owns 16,365,172 shares of the stock, with a value of $487.52 million, following the sale of -80,656 additional shares during the last quarter. Sarissa Capital Management LP made another decreased to its shares in ALKS during the first quarter, downing its stake by 0.00%. During the last quarter, the company dropped down 0 additional shares for a total stake of worth $418.25 million, bringing number of shares owned by the company to 14,040,000.
During the first quarter, T. Rowe Price Associates, Inc. subtracted a -7,969,695 position in ALKS. Wellington Management Co. LLP sold an additional -0.33 million shares in the last quarter, decreasing its holdings by -2.78%, now holding 11.48 million shares worth $341.98 million. At the end of the first quarter, BlackRock Fund Advisors decreased its ALKS holdings by -1.00% and now holds 11.33 million ALKS shares valued at $337.55 million with the lessened -0.11 million shares during the period. ALKS shares are owned by institutional investors to the tune of 99.30% at present.