The decline in Alkermes plc (ALKS) stock price is a huge buying opportunity

Alkermes plc (NASDAQ: ALKS) is -16.32% lower on its value in year-to-date trading and has touched a low of $11.98 and a high of $23.22 in the current 52-week trading range. The ALKS stock was last observed hovering at around $18.09 in the last trading session, with the day’s loss setting it -1.02% off its average median price target of $20.00 for the next 12 months. It is also 34.35% off the consensus price target high of $26.00 offered by 11 analysts, but current levels are -13.8% lower than the price target low of $15.00 for the same period.

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Currently trading at $17.07, the stock is -9.19% and -9.47% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.49 million and changing -5.64% at the moment leaves the stock -5.78% off its SMA200. ALKS registered -20.12% loss for a year compared to 6-month loss of -13.66%. The firm has a 50-day simple moving average (SMA 50) of $19.08 and a 200-day simple moving average (SMA200) of $17.32.

The stock witnessed a -13.13% gain in the last 1 month and extending the period to 3 months gives it a 1.25%, and is -8.03% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.58% over the week and 3.72% over the month.

Alkermes plc (ALKS) has around 2235 employees, a market worth around $2.88B and $1.16B in sales. Fwd P/E is 46.01. Profit margin for the company is -10.90%. Distance from 52-week low is 42.49% and -26.49% from its 52-week high. The company has generated returns on investments over the last 12 months (-12.80%).

Alkermes plc (ALKS) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Alkermes plc (ALKS) is a “Hold”. 11 analysts offering their recommendations for the stock have an average rating of 3.00, where 9 rate it as a Hold and 0 think it is a “Overweight”. 1 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.

Alkermes plc is expected to release its quarterly report on 10/21/2020 and quarterly earnings per share for the current quarter are estimated at -$0.01 with sales reaching $236.27M over the same period.The EPS is expected to shrink by -39.40% this year, but quarterly earnings will post -16.40% year-over-year. Quarterly sales are estimated to shrink -7.40% in year-over-year returns.

Alkermes plc (ALKS) Top Institutional Holders

317 institutions hold shares in Alkermes plc (ALKS), with 1.46M shares held by insiders accounting for 0.92% while institutional investors hold 97.55% of the company’s shares. The shares outstanding are 158.90M, and float is at 157.56M with Short Float at 7.03%. Institutions hold 96.66% of the Float.

The top institutional shareholder in the company is Price (T.Rowe) Associates Inc with over 24.67 million shares valued at $478.77 million. The investor’s holdings represent 15.51% of the ALKS Shares outstanding. As of Jun 29, 2020, the second largest holder is Wellington Management Company, LLP with 21.92 million shares valued at $425.43 million to account for 13.78% of the shares outstanding. The other top investors are Vanguard Group, Inc. (The) which holds 15.42 million shares representing 9.69% and valued at over $299.19 million, while Blackrock Inc. holds 6.01% of the shares totaling 9.57 million with a market value of $185.63 million.

Alkermes plc (ALKS) Insider Activity

A total of 38 insider transactions have happened at Alkermes plc (ALKS) in the last six months, with sales accounting for 18 and purchases happening 20 times. The most recent transaction is an insider sale by POPS RICHARD F, the company’s Director and CEO, Alkermes plc. SEC filings show that POPS RICHARD F sold 75,000 shares of the company’s common stock on May 14 at a price of $15.00 per share for a total of $1.13 million. Following the sale, the insider now owns 0.76 million shares.

Alkermes plc disclosed in a document filed with the SEC on May 13 that Brown Iain Michael (SVP Finance & CAO, Alks Inc.) sold a total of 6,250 shares of the company’s common stock. The trade occurred on May 13 and was made at $15.39 per share for $96193.0. Following the transaction, the insider now directly holds 38581.0 shares of the ALKS stock.

Still, SEC filings show that on May 12, LANDINE MICHAEL J (SVP, Corp Dev., Alkermes, Inc.) disposed off 18,000 shares at an average price of $15.75 for $0.28 million. The insider now directly holds 201,822 shares of Alkermes plc (ALKS).

Alkermes plc (ALKS): Who are the competitors?

The company’s main competitors (and peers) include AstraZeneca PLC (AZN) that is trading 22.68% up over the past 12 months. Sanofi (SNY) is 19.47% up on the 1-year trading charts. Short interest in the company’s stock has fallen -7.58% from the last report on Jun 29, 2020 to stand at a total of 11.92 million short shares sold with a short interest ratio of 6.5.

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