Alkermes (NASDAQ:ALKS) Receives Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Alkermes (NASDAQ:ALKS) in a research report released on Thursday, Benzinga reports. Cantor Fitzgerald currently has a $48.00 price objective on the stock.

ALKS has been the topic of several other reports. StockNews.com upgraded shares of Alkermes from a hold rating to a buy rating in a report on Sunday, July 28th. Robert W. Baird increased their target price on shares of Alkermes from $37.00 to $38.00 and gave the stock an outperform rating in a report on Thursday, July 25th. JPMorgan Chase & Co. increased their target price on shares of Alkermes from $31.00 to $32.00 and gave the stock a neutral rating in a report on Thursday, July 25th. TD Cowen initiated coverage on shares of Alkermes in a report on Monday, June 17th. They set a buy rating and a $34.00 target price for the company. Finally, HC Wainwright increased their target price on shares of Alkermes from $35.00 to $37.00 and gave the stock a neutral rating in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $36.70.

Alkermes Stock Up 2.9 %

Alkermes stock opened at $27.37 on Thursday. The company’s 50 day simple moving average is $27.58 and its 200 day simple moving average is $25.77. Alkermes has a fifty-two week low of $22.01 and a fifty-two week high of $32.88. The firm has a market capitalization of $4.51 billion, a price-to-earnings ratio of 16.29, a PEG ratio of 0.56 and a beta of 0.46. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.99 and a quick ratio of 2.61.

Alkermes (NASDAQ:ALKS) last announced its earnings results on Wednesday, July 24th. The company reported $0.70 EPS for the quarter, hitting the consensus estimate of $0.70. The firm had revenue of $399.13 million for the quarter, compared to the consensus estimate of $393.30 million. Alkermes had a net margin of 19.15% and a return on equity of 23.20%. The business’s quarterly revenue was down 35.4% on a year-over-year basis. During the same period last year, the company posted $0.38 EPS. As a group, sell-side analysts anticipate that Alkermes will post 2.36 EPS for the current year.

Institutional Trading of Alkermes

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALKS. Signaturefd LLC raised its position in shares of Alkermes by 51.2% in the second quarter. Signaturefd LLC now owns 1,417 shares of the company’s stock valued at $34,000 after purchasing an additional 480 shares during the period. Hexagon Capital Partners LLC grew its stake in shares of Alkermes by 3,841.0% in the second quarter. Hexagon Capital Partners LLC now owns 1,537 shares of the company’s stock valued at $37,000 after acquiring an additional 1,498 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Alkermes by 44.4% in the second quarter. GAMMA Investing LLC now owns 2,287 shares of the company’s stock valued at $55,000 after acquiring an additional 703 shares in the last quarter. CWM LLC grew its stake in shares of Alkermes by 36.7% in the first quarter. CWM LLC now owns 2,732 shares of the company’s stock valued at $74,000 after acquiring an additional 733 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of Alkermes in the second quarter valued at about $116,000. 95.21% of the stock is owned by institutional investors.

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.