Alkermes (NASDAQ:ALKS) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Alkermes (NASDAQ:ALKS) from a hold rating to a buy rating in a report released on Friday.

A number of other analysts have also recently weighed in on the company. Cantor Fitzgerald upped their price target on Alkermes from $43.00 to $48.00 and gave the company an overweight rating in a research report on Thursday, May 23rd. Robert W. Baird initiated coverage on shares of Alkermes in a report on Tuesday, March 19th. They issued an outperform rating and a $37.00 target price on the stock. TD Cowen started coverage on shares of Alkermes in a report on Monday, June 17th. They set a buy rating and a $34.00 price target for the company. Jefferies Financial Group upped their price objective on shares of Alkermes from $42.00 to $50.00 and gave the stock a buy rating in a research note on Tuesday, April 9th. Finally, Piper Sandler reiterated an overweight rating and issued a $39.00 target price on shares of Alkermes in a research note on Monday, April 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Alkermes has a consensus rating of Moderate Buy and an average price target of $36.50.

Alkermes Stock Up 1.1 %

Shares of ALKS stock opened at $23.57 on Friday. Alkermes has a one year low of $22.01 and a one year high of $32.88. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.20 and a quick ratio of 2.77. The stock has a fifty day moving average price of $24.20 and a 200 day moving average price of $26.31. The stock has a market cap of $3.99 billion, a P/E ratio of 9.32, a price-to-earnings-growth ratio of 0.48 and a beta of 0.47.

Alkermes (NASDAQ:ALKS) last issued its earnings results on Wednesday, May 1st. The company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.15). The business had revenue of $350.37 million for the quarter, compared to analyst estimates of $360.26 million. Alkermes had a net margin of 25.17% and a return on equity of 20.31%. Alkermes’s revenue was up 21.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.10) earnings per share. Analysts predict that Alkermes will post 2.26 earnings per share for the current year.

Institutional Investors Weigh In On Alkermes

Institutional investors and hedge funds have recently made changes to their positions in the company. McGlone Suttner Wealth Management Inc. bought a new position in Alkermes in the fourth quarter valued at about $30,000. GAMMA Investing LLC acquired a new position in Alkermes during the 4th quarter valued at about $35,000. Hexagon Capital Partners LLC boosted its stake 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 valued at $37,000 after purchasing an additional 1,498 shares during the last quarter. Daiwa Securities Group Inc. grew its position in shares of Alkermes by 166.4% during the 4th quarter. Daiwa Securities Group Inc. now owns 1,761 shares of the company’s stock worth $49,000 after buying an additional 1,100 shares during the period. Finally, CWM LLC raised its stake in shares of Alkermes by 92.8% during the fourth quarter. CWM LLC now owns 1,999 shares of the company’s stock worth $55,000 after buying an additional 962 shares during the last quarter. Institutional investors own 95.21% of the company’s stock.

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.