Alkermes (NASDAQ:ALKS) Given “Neutral” Rating at HC Wainwright

HC Wainwright reissued their neutral rating on shares of Alkermes (NASDAQ:ALKS) in a report released on Friday, Benzinga reports. The firm currently has a $37.00 price objective on the stock.

A number of other research analysts have also weighed in on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $48.00 price objective on shares of Alkermes in a research note on Thursday, October 10th. StockNews.com upgraded Alkermes from a “hold” rating to a “buy” rating in a research note on Sunday, July 28th. JPMorgan Chase & Co. raised their target price on Alkermes from $31.00 to $32.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Finally, Robert W. Baird lifted their target price on Alkermes from $37.00 to $38.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Alkermes has an average rating of “Moderate Buy” and an average price target of $34.91.

Alkermes Stock Performance

Shares of ALKS opened at $26.09 on Friday. Alkermes has a 1 year low of $22.06 and a 1 year high of $32.88. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.99 and a quick ratio of 2.61. The stock’s fifty day moving average price is $27.83 and its two-hundred day moving average price is $25.87. The firm has a market cap of $4.41 billion, a PE ratio of 10.31, a PEG ratio of 0.56 and a beta of 0.46.

Alkermes (NASDAQ:ALKS) last released its quarterly earnings data on Wednesday, July 24th. The company reported $0.70 EPS for the quarter, meeting the consensus estimate of $0.70. The business had revenue of $399.13 million for the quarter, compared to the consensus estimate of $393.30 million. Alkermes had a net margin of 19.15% and a return on equity of 23.20%. The company’s revenue was down 35.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.38 earnings per share. On average, equities research analysts forecast that Alkermes will post 2.36 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new stake in Alkermes during the third quarter worth about $29,000. Signaturefd LLC raised its stake 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 lifted its holdings in shares of 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 acquiring an additional 1,498 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Alkermes by 44.4% in the 2nd quarter. GAMMA Investing LLC now owns 2,287 shares of the company’s stock valued at $55,000 after purchasing an additional 703 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new position 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.