Alkermes plc (NASDAQ:ALKS) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Alkermes plc (NASDAQ:ALKS) have earned a consensus recommendation of “Moderate Buy” from the eleven research firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $36.70.

ALKS has been the topic of several analyst reports. StockNews.com upgraded Alkermes from a “hold” rating to a “buy” rating in a report on Sunday, July 28th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $48.00 price target on shares of Alkermes in a report on Thursday, July 25th. JPMorgan Chase & Co. raised their price objective on shares of Alkermes from $31.00 to $32.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. 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. Finally, HC Wainwright boosted their price objective on Alkermes from $35.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, July 25th.

Institutional Investors Weigh In On Alkermes

A number of large investors have recently bought and sold shares of the business. GAMMA Investing LLC acquired a new stake in Alkermes in the 4th quarter worth $35,000. Signaturefd LLC increased its stake in Alkermes by 51.2% in the second quarter. Signaturefd LLC now owns 1,417 shares of the company’s stock valued at $34,000 after acquiring an additional 480 shares during the period. Hexagon Capital Partners LLC raised its position in Alkermes by 3,841.0% in the second 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 in the last quarter. CWM LLC lifted its stake in Alkermes by 92.8% during the fourth quarter. CWM LLC now owns 1,999 shares of the company’s stock worth $55,000 after purchasing an additional 962 shares during the period. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Alkermes during the second quarter valued at approximately $116,000. 95.21% of the stock is currently owned by institutional investors.

Alkermes Stock Performance

NASDAQ ALKS opened at $26.86 on Monday. The stock has a market cap of $4.55 billion, a P/E ratio of 10.62, a PEG ratio of 0.59 and a beta of 0.46. The company’s fifty day simple moving average is $26.39 and its 200-day simple moving average is $25.95. 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 has a 52 week low of $22.01 and a 52 week high of $32.88.

Alkermes (NASDAQ:ALKS) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $0.70 earnings per share 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 analysts’ expectations of $393.30 million. During the same period in the prior year, the company posted $0.38 EPS. The firm’s revenue for the quarter was down 35.4% on a year-over-year basis. Equities research analysts predict that Alkermes will post 2.37 EPS for the current fiscal year.

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.