Cantor Fitzgerald Reaffirms Overweight Rating for Alkermes (NASDAQ:ALKS)

Cantor Fitzgerald restated their overweight rating on shares of Alkermes (NASDAQ:ALKS) in a research note published on Monday morning, Benzinga reports. The brokerage currently has a $48.00 target price on the stock.

Several other equities research analysts have also issued reports on the stock. Robert W. Baird raised their price target on shares of Alkermes from $37.00 to $38.00 and gave the stock an outperform rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. boosted their target price on Alkermes from $31.00 to $32.00 and gave the company a neutral rating in a research note on Thursday, July 25th. TD Cowen assumed coverage on Alkermes in a research note on Monday, June 17th. They set a buy rating and a $34.00 price target for the company. StockNews.com raised Alkermes from a hold rating to a buy rating in a report on Sunday, July 28th. Finally, HC Wainwright upped their price objective on shares of Alkermes from $35.00 to $37.00 and gave the company a neutral rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Alkermes has a consensus rating of Moderate Buy and an average target price of $36.70.

Alkermes Stock Performance

NASDAQ ALKS opened at $27.83 on Monday. The company has a fifty day moving average price of $26.90 and a 200-day moving average price of $25.84. The firm has a market cap of $4.71 billion, a price-to-earnings ratio of 11.00, a PEG ratio of 0.56 and a beta of 0.46. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.99 and a quick ratio of 2.61. Alkermes has a 1 year low of $22.01 and a 1 year high of $32.88.

Alkermes (NASDAQ:ALKS) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $0.70 EPS for the quarter, meeting analysts’ consensus estimates of $0.70. Alkermes had a return on equity of 23.20% and a net margin of 19.15%. The company had revenue of $399.13 million during the quarter, compared to the consensus estimate of $393.30 million. During the same period last year, the business posted $0.38 earnings per share. Alkermes’s revenue was down 35.4% on a year-over-year basis. As a group, equities research analysts predict that Alkermes will post 2.36 EPS for the current fiscal year.

Institutional Investors Weigh In On Alkermes

Several large investors have recently added to or reduced their stakes in the business. Signaturefd LLC raised its holdings in shares of Alkermes by 51.2% in the 2nd quarter. Signaturefd LLC now owns 1,417 shares of the company’s stock valued at $34,000 after acquiring an additional 480 shares in the last quarter. Hexagon Capital Partners LLC lifted its position in Alkermes by 3,841.0% during the second quarter. Hexagon Capital Partners LLC now owns 1,537 shares of the company’s stock valued at $37,000 after purchasing an additional 1,498 shares during the last quarter. GAMMA Investing LLC grew its stake in Alkermes by 44.4% in the 2nd quarter. GAMMA Investing LLC now owns 2,287 shares of the company’s stock worth $55,000 after buying an additional 703 shares in the last quarter. CWM LLC increased its holdings in shares of Alkermes by 36.7% in the 1st quarter. CWM LLC now owns 2,732 shares of the company’s stock worth $74,000 after buying an additional 733 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Alkermes during the 2nd quarter valued at $116,000. 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.