Alkermes (NASDAQ:ALKS) Stock Rating Upgraded by StockNews.com

Alkermes (NASDAQ:ALKS) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Sunday.

Other research analysts have also recently issued reports about the company. TD Cowen started coverage on Alkermes in a research report on Monday, June 17th. They set a “buy” rating and a $34.00 price objective on the stock. Robert W. Baird increased their price objective on shares of Alkermes from $37.00 to $38.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Piper Sandler reiterated an “overweight” rating and set a $39.00 price objective on shares of Alkermes in a research report on Monday, April 1st. JPMorgan Chase & Co. upped their target price on shares of Alkermes from $31.00 to $32.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $48.00 price target on shares of Alkermes in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $36.70.

Alkermes Stock Up 0.1 %

ALKS stock opened at $27.92 on Friday. Alkermes has a twelve month low of $22.01 and a twelve month high of $32.88. The company has a quick ratio of 2.61, a current ratio of 2.99 and a debt-to-equity ratio of 0.22. The stock has a market cap of $4.60 billion, a P/E ratio of 11.04, a PEG ratio of 0.55 and a beta of 0.47. The business’s 50-day moving average price is $24.50 and its 200-day moving average price is $26.10.

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 return on equity of 23.20% and a net margin of 19.15%. The firm had revenue of $399.13 million for the quarter, compared to analysts’ expectations of $393.30 million. During the same period in the previous year, the firm earned $0.38 EPS. The business’s quarterly revenue was down 35.4% on a year-over-year basis. On average, equities research analysts forecast that Alkermes will post 2.51 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Panagora Asset Management Inc. raised its position in Alkermes by 12.8% during the second quarter. Panagora Asset Management Inc. now owns 860,767 shares of the company’s stock valued at $20,744,000 after purchasing an additional 97,921 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Alkermes by 3.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 33,895 shares of the company’s stock valued at $817,000 after purchasing an additional 1,211 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Alkermes by 73.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 209,535 shares of the company’s stock valued at $5,050,000 after purchasing an additional 88,834 shares during the last quarter. EFG Asset Management North America Corp. lifted its stake in shares of Alkermes by 0.5% in the 2nd quarter. EFG Asset Management North America Corp. now owns 75,864 shares of the company’s stock valued at $1,828,000 after purchasing an additional 359 shares during the last quarter. Finally, AMG National Trust Bank bought a new stake in shares of Alkermes in the 2nd quarter valued at approximately $854,000. 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.