Alkermes (NASDAQ:ALKS) PT Raised to $37.00

Alkermes (NASDAQ:ALKS) had its target price upped by HC Wainwright from $35.00 to $37.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. HC Wainwright’s target price points to a potential upside of 32.71% from the company’s current price.

Several other research firms also recently weighed in on ALKS. TD Cowen started coverage on Alkermes in a research report on Monday, June 17th. They issued a “buy” rating and a $34.00 target price for the company. Jefferies Financial Group boosted their target price on Alkermes from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. JPMorgan Chase & Co. decreased their target price on Alkermes from $32.00 to $31.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. Piper Sandler restated an “overweight” rating and set a $39.00 target price on shares of Alkermes in a research note on Monday, April 1st. Finally, StockNews.com cut Alkermes from a “buy” rating to a “hold” rating in a research note on Saturday, July 20th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Alkermes currently has an average 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 business has a 50-day moving average price of $24.43 and a 200 day moving average price of $26.14. The company has a current ratio of 3.16, a quick ratio of 2.77 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $4.72 billion, a price-to-earnings ratio of 11.02, a PEG ratio of 0.54 and a beta of 0.47. Alkermes has a 12-month low of $22.01 and a 12-month high of $32.88.

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, hitting analysts’ consensus estimates of $0.70. The firm had revenue of $399.13 million during the quarter, compared to the consensus estimate of $393.30 million. Alkermes had a return on equity of 23.20% and a net margin of 19.15%. The company’s quarterly revenue was down 35.4% on a year-over-year basis. During the same period last year, the company earned $0.38 EPS. Sell-side analysts expect that Alkermes will post 2.25 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its holdings in Alkermes by 3.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,403,195 shares of the company’s stock worth $66,666,000 after acquiring an additional 90,219 shares during the period. S&CO Inc. grew its holdings in Alkermes by 13.2% during the fourth quarter. S&CO Inc. now owns 173,145 shares of the company’s stock worth $4,803,000 after acquiring an additional 20,145 shares during the period. Handelsbanken Fonder AB grew its holdings in Alkermes by 521.3% in the fourth quarter. Handelsbanken Fonder AB now owns 175,200 shares of the company’s stock valued at $4,860,000 after purchasing an additional 147,000 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Alkermes by 81.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 377,489 shares of the company’s stock valued at $10,472,000 after purchasing an additional 169,385 shares during the last quarter. Finally, RTW Investments LP lifted its position in shares of 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 acquiring an additional 3,012,450 shares in the last quarter. Institutional investors and hedge funds 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.