Alkermes (NASDAQ:ALKS) Lowered to “Hold” at StockNews.com

StockNews.com lowered shares of Alkermes (NASDAQ:ALKS) from a buy rating to a hold rating in a research note released on Saturday.

Several other research firms have also recently weighed in on ALKS. Piper Sandler reiterated an overweight rating and set a $39.00 price objective on shares of Alkermes in a research report on Monday, April 1st. JPMorgan Chase & Co. lowered their price objective on Alkermes from $32.00 to $31.00 and set a neutral rating on the stock in a research report on Monday, July 15th. Cantor Fitzgerald increased their price objective on Alkermes from $43.00 to $48.00 and gave the stock an overweight rating in a research report on Thursday, May 23rd. TD Cowen initiated coverage on Alkermes in a research report on Monday, June 17th. They set a buy rating and a $34.00 price objective on the stock. Finally, Jefferies Financial Group increased their price objective on Alkermes from $42.00 to $50.00 and gave the stock a buy rating in a research report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $36.30.

Alkermes Stock Up 0.8 %

ALKS opened at $25.00 on Friday. Alkermes has a 1-year low of $22.01 and a 1-year high of $32.88. The stock’s fifty day simple moving average is $24.23 and its 200 day simple moving average is $26.13. The company has a current ratio of 3.20, a quick ratio of 2.77 and a debt-to-equity ratio of 0.23. The stock has a market cap of $4.23 billion, a PE ratio of 9.88, a price-to-earnings-growth ratio of 0.50 and a beta of 0.47.

Alkermes (NASDAQ:ALKS) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.15). Alkermes had a net margin of 25.17% and a return on equity of 20.31%. The business had revenue of $350.37 million during the quarter, compared to the consensus estimate of $360.26 million. During the same quarter last year, the company posted ($0.10) EPS. The firm’s revenue was up 21.8% on a year-over-year basis. As a group, research analysts expect that Alkermes will post 2.25 earnings per share for the current year.

Institutional Trading of Alkermes

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Alkermes by 12.3% in the fourth quarter. Vanguard Group Inc. now owns 20,955,454 shares of the company’s stock valued at $581,304,000 after buying an additional 2,288,185 shares in the last quarter. Wellington Management Group LLP boosted its stake in Alkermes by 29.8% in the fourth quarter. Wellington Management Group LLP now owns 15,241,470 shares of the company’s stock valued at $422,798,000 after buying an additional 3,494,678 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Alkermes by 421.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,326,256 shares of the company’s stock valued at $225,393,000 after buying an additional 6,730,671 shares in the last quarter. RTW Investments LP boosted its stake in Alkermes by 338.8% in the fourth quarter. RTW Investments LP now owns 3,901,523 shares of the company’s stock valued at $108,228,000 after buying an additional 3,012,450 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Alkermes by 3.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,403,195 shares of the company’s stock valued at $66,666,000 after buying an additional 90,219 shares in the last quarter. 95.21% of the stock is owned by institutional investors and hedge funds.

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.