Alkermes (NASDAQ:ALKS) PT Raised to $37.00

Alkermes (NASDAQ:ALKS) had its price objective lifted by equities researchers at HC Wainwright from $35.00 to $37.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the stock. HC Wainwright’s price objective would suggest a potential upside of 32.71% from the company’s current price.

A number of other research firms have also weighed in on ALKS. Robert W. Baird raised their price target on shares of Alkermes from $37.00 to $38.00 and gave the company an “outperform” rating in a research report on Thursday. Piper Sandler reissued an “overweight” rating and set a $39.00 price target on shares of Alkermes in a research report on Monday, April 1st. TD Cowen initiated coverage on shares of Alkermes in a research report on Monday, June 17th. They set a “buy” rating and a $34.00 price target on the stock. JPMorgan Chase & Co. dropped their price target on shares of Alkermes from $32.00 to $31.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. Finally, StockNews.com lowered shares of Alkermes from a “buy” rating to a “hold” rating in a research report on Saturday, July 20th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $36.70.

Alkermes Stock Down 0.6 %

Shares of NASDAQ ALKS opened at $27.88 on Thursday. The stock has a market capitalization of $4.72 billion, a P/E ratio of 11.02, a P/E/G ratio of 0.54 and a beta of 0.47. The company has a 50-day moving average price of $24.43 and a 200-day moving average price of $26.14. Alkermes has a 1 year low of $22.01 and a 1 year high of $32.88. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.16 and a quick ratio of 2.77.

Alkermes (NASDAQ:ALKS) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.70 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.70. The firm had revenue of $399.13 million during the quarter, compared to analysts’ expectations of $393.30 million. Alkermes had a net margin of 19.15% and a return on equity of 23.20%. The business’s revenue was down 35.4% on a year-over-year basis. During the same period last year, the company earned $0.38 earnings per share. On average, equities research analysts forecast that Alkermes will post 2.25 EPS for the current fiscal year.

Institutional Trading of Alkermes

Several hedge funds have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. bought a new stake in shares of Alkermes in the fourth quarter valued at approximately $2,030,000. McGlone Suttner Wealth Management Inc. purchased a new position in Alkermes during the fourth quarter valued at approximately $30,000. State of Alaska Department of Revenue purchased a new position in Alkermes during the fourth quarter valued at approximately $2,847,000. China Universal Asset Management Co. Ltd. grew its stake in Alkermes by 352.0% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 19,306 shares of the company’s stock valued at $536,000 after acquiring an additional 15,035 shares in the last quarter. Finally, Arizona State Retirement System grew its stake in Alkermes by 3.9% in the 4th quarter. Arizona State Retirement System now owns 44,233 shares of the company’s stock worth $1,227,000 after buying an additional 1,663 shares in the last quarter. Institutional investors own 95.21% of the company’s stock.

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.