Alkermes (NASDAQ:ALKS) Price Target Raised to $38.00

Alkermes (NASDAQ:ALKS) had its price target lifted by Robert W. Baird from $37.00 to $38.00 in a report released on Thursday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

A number of other research analysts also recently commented on ALKS. Cantor Fitzgerald lifted their price objective on shares of Alkermes from $43.00 to $48.00 and gave the company an overweight rating in a research report on Thursday, May 23rd. TD Cowen began 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. StockNews.com downgraded shares of Alkermes from a buy rating to a hold rating in a report on Saturday, July 20th. HC Wainwright reaffirmed a neutral rating and set a $35.00 target price on shares of Alkermes in a report on Tuesday, June 4th. Finally, Jefferies Financial Group lifted their target price on shares of Alkermes from $42.00 to $50.00 and gave the stock a buy rating in a report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $36.70.

Alkermes Stock Performance

Shares of ALKS opened at $27.88 on Thursday. The firm has a 50-day moving average of $24.43 and a 200-day moving average of $26.12. Alkermes has a one year low of $22.01 and a one year high of $32.88. The company has a market cap of $4.59 billion, a PE ratio of 11.02, a price-to-earnings-growth ratio of 0.62 and a beta of 0.47. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.99 and a quick ratio of 2.77.

Alkermes (NASDAQ:ALKS) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.70 EPS for the quarter, meeting analysts’ consensus estimates 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 last year, the firm posted $0.38 EPS. The company’s quarterly revenue was down 35.4% on a year-over-year basis. As a group, equities analysts forecast that Alkermes will post 2.25 earnings per share for the current year.

Institutional Trading of Alkermes

Hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its stake in Alkermes by 3.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,403,195 shares of the company’s stock worth $66,666,000 after purchasing an additional 90,219 shares in the last quarter. S&CO Inc. raised its position in shares of Alkermes by 13.2% in the 4th quarter. S&CO Inc. now owns 173,145 shares of the company’s stock valued at $4,803,000 after buying an additional 20,145 shares in the last quarter. Handelsbanken Fonder AB raised its position in shares of Alkermes by 521.3% in the 4th quarter. Handelsbanken Fonder AB now owns 175,200 shares of the company’s stock valued at $4,860,000 after buying an additional 147,000 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Alkermes by 81.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 377,489 shares of the company’s stock valued at $10,472,000 after buying an additional 169,385 shares in the last quarter. Finally, RTW Investments LP raised its position in shares of Alkermes by 338.8% in the 4th quarter. RTW Investments LP now owns 3,901,523 shares of the company’s stock valued at $108,228,000 after buying 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.