Short Interest in Alkermes plc (NASDAQ:ALKS) Rises By 14.4%

Alkermes plc (NASDAQ:ALKS) saw a significant growth in short interest in the month of June. As of June 30th, there was short interest totalling 13,680,000 shares, a growth of 14.4% from the June 15th total of 11,960,000 shares. Based on an average daily trading volume, of 1,840,000 shares, the days-to-cover ratio is presently 7.4 days.

Wall Street Analyst Weigh In

ALKS has been the subject of several recent analyst reports. HC Wainwright reaffirmed a “neutral” rating and set a $35.00 price objective on shares of Alkermes in a research note on Tuesday, June 4th. Robert W. Baird initiated coverage on Alkermes in a research report on Tuesday, March 19th. They set an “outperform” rating and a $37.00 target price for the company. StockNews.com upgraded Alkermes from a “hold” rating to a “buy” rating in a research report on Friday, July 12th. Piper Sandler reiterated an “overweight” rating and set a $39.00 target price on shares of Alkermes in a research report on Monday, April 1st. Finally, Jefferies Financial Group lifted their target price on Alkermes from $42.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Alkermes presently has an average rating of “Moderate Buy” and a consensus target price of $36.30.

Alkermes Stock Performance

ALKS stock opened at $24.60 on Wednesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.20 and a quick ratio of 2.77. The business has a 50-day moving average price of $24.19 and a 200 day moving average price of $26.26. The company has a market capitalization of $4.16 billion, a P/E ratio of 9.72, a PEG ratio of 0.48 and a beta of 0.47. Alkermes has a 1-year low of $22.01 and a 1-year high of $32.88.

Alkermes (NASDAQ:ALKS) last announced its earnings results on Wednesday, May 1st. The company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.15). The firm had revenue of $350.37 million during the quarter, compared to the consensus estimate of $360.26 million. Alkermes had a return on equity of 20.31% and a net margin of 25.17%. The business’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.10) earnings per share. As a group, equities research analysts forecast that Alkermes will post 2.26 EPS for the current fiscal year.

Hedge Funds Weigh In On Alkermes

A number of large investors have recently added to or reduced their stakes in the company. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Alkermes during the fourth quarter worth about $30,000. GAMMA Investing LLC purchased a new stake in shares of Alkermes during the fourth quarter worth about $35,000. Hexagon Capital Partners LLC grew its stake in shares of Alkermes by 3,841.0% during the second quarter. Hexagon Capital Partners LLC now owns 1,537 shares of the company’s stock worth $37,000 after acquiring an additional 1,498 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in Alkermes by 166.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 1,761 shares of the company’s stock valued at $49,000 after buying an additional 1,100 shares during the last quarter. Finally, CWM LLC boosted its position in Alkermes by 92.8% in the fourth quarter. CWM LLC now owns 1,999 shares of the company’s stock valued at $55,000 after buying an additional 962 shares during the last quarter. 95.21% of the stock is currently owned by institutional investors.

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.