Alkermes (NASDAQ:ALKS) Earns Overweight Rating from Cantor Fitzgerald

Alkermes (NASDAQ:ALKS)‘s stock had its “overweight” rating reiterated by analysts at Cantor Fitzgerald in a research report issued on Thursday, Benzinga reports. They presently have a $48.00 price objective on the stock. Cantor Fitzgerald’s price target points to a potential upside of 71.49% from the company’s previous close.

ALKS has been the topic of a number of other research reports. StockNews.com downgraded shares of Alkermes from a “buy” rating to a “hold” rating in a research report on Saturday, July 20th. HC Wainwright raised their target price on shares of Alkermes from $35.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday. Robert W. Baird lifted their price objective on shares of Alkermes from $37.00 to $38.00 and gave the stock an “outperform” rating in a research report on Thursday. JPMorgan Chase & Co. lifted their price objective on shares of Alkermes from $31.00 to $32.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, TD Cowen began coverage on shares of Alkermes in a research report on Monday, June 17th. They issued a “buy” rating and a $34.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $36.70.

Alkermes Trading Up 5.6 %

ALKS traded up $1.48 on Thursday, reaching $27.99. 408,959 shares of the company traded hands, compared to its average volume of 1,886,653. Alkermes has a one year low of $22.01 and a one year high of $32.88. The firm has a fifty day simple moving average of $24.28 and a two-hundred day simple moving average of $26.13. The company has a market cap of $4.74 billion, a P/E ratio of 11.06, a price-to-earnings-growth ratio of 0.51 and a beta of 0.47. The company has a quick ratio of 2.77, a current ratio of 3.20 and a debt-to-equity ratio of 0.23.

Alkermes (NASDAQ:ALKS) last announced 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 25.17% and a return on equity of 20.31%. The company had revenue of $399.13 million during the quarter, compared to analyst estimates of $393.30 million. During the same quarter last year, the business posted $0.38 EPS. The firm’s revenue for the quarter was down 35.4% on a year-over-year basis. As a group, equities research analysts expect that Alkermes will post 2.25 earnings per share for the current year.

Institutional Trading of Alkermes

Several institutional investors and hedge funds have recently bought and sold shares of ALKS. Price T Rowe Associates Inc. MD lifted its stake in Alkermes by 421.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,326,256 shares of the company’s stock valued at $225,393,000 after acquiring an additional 6,730,671 shares during the period. Wellington Management Group LLP lifted its stake in Alkermes by 29.8% during the 4th quarter. Wellington Management Group LLP now owns 15,241,470 shares of the company’s stock valued at $422,798,000 after acquiring an additional 3,494,678 shares during the period. RTW Investments LP lifted its stake in Alkermes by 338.8% during the 4th quarter. RTW Investments LP now owns 3,901,523 shares of the company’s stock valued at $108,228,000 after acquiring an additional 3,012,450 shares during the period. Vanguard Group Inc. lifted its stake in Alkermes by 12.3% during the 4th quarter. Vanguard Group Inc. now owns 20,955,454 shares of the company’s stock valued at $581,304,000 after acquiring an additional 2,288,185 shares during the period. Finally, Norges Bank acquired a new position in shares of Alkermes in the 4th quarter valued at $55,548,000. 95.21% of the stock is currently owned by institutional investors and hedge funds.

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.