Alkermes’ (ALKS) “Neutral” Rating Reaffirmed at HC Wainwright

HC Wainwright restated their neutral rating on shares of Alkermes (NASDAQ:ALKS) in a research note published on Monday morning, Benzinga reports. The brokerage currently has a $37.00 target price on the stock.

Several other equities analysts have also recently commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Alkermes from $31.00 to $32.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Cantor Fitzgerald reissued an “overweight” rating and issued a $48.00 price objective on shares of Alkermes in a research report on Thursday, October 10th. StockNews.com upgraded Alkermes from a “hold” rating to a “buy” rating in a research note on Sunday, July 28th. TD Cowen began coverage on shares of Alkermes in a report on Monday, June 17th. They issued a “buy” rating and a $34.00 price target on the stock. Finally, Robert W. Baird raised their price objective on shares of Alkermes from $37.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $36.70.

Alkermes Trading Up 0.3 %

Shares of Alkermes stock opened at $28.09 on Monday. The company has a market capitalization of $4.75 billion, a P/E ratio of 11.10, a price-to-earnings-growth ratio of 0.56 and a beta of 0.46. The stock has a fifty day simple moving average of $27.68 and a 200 day simple moving average of $25.81. Alkermes has a 12-month low of $22.01 and a 12-month high of $32.88. The company has a current ratio of 2.99, a quick ratio of 2.61 and a debt-to-equity ratio of 0.22.

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

Institutional Trading of Alkermes

Institutional investors have recently modified their holdings of the business. Signaturefd LLC lifted its position in shares of Alkermes by 51.2% during the second quarter. Signaturefd LLC now owns 1,417 shares of the company’s stock worth $34,000 after acquiring an additional 480 shares in the last quarter. Hexagon Capital Partners LLC boosted its stake in Alkermes by 3,841.0% in the 2nd quarter. Hexagon Capital Partners LLC now owns 1,537 shares of the company’s stock worth $37,000 after purchasing an additional 1,498 shares during the period. GAMMA Investing LLC grew its holdings in Alkermes by 44.4% during the 2nd quarter. GAMMA Investing LLC now owns 2,287 shares of the company’s stock valued at $55,000 after buying an additional 703 shares in the last quarter. CWM LLC increased its position in shares of Alkermes by 36.7% during the first quarter. CWM LLC now owns 2,732 shares of the company’s stock valued at $74,000 after buying an additional 733 shares during the period. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Alkermes in the second quarter worth about $116,000. 95.21% of the stock is currently owned by hedge funds and other 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.