Alkermes plc (NASDAQ:ALKS) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Alkermes plc (NASDAQ:ALKS) have been given an average rating of “Moderate Buy” by the eleven ratings firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $36.70.

Several equities analysts have issued reports on ALKS shares. HC Wainwright lifted their price objective on Alkermes from $35.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $48.00 price target on shares of Alkermes in a report on Thursday, July 25th. JPMorgan Chase & Co. upped their price target 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. Robert W. Baird raised their price objective on shares of Alkermes from $37.00 to $38.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, StockNews.com raised shares of Alkermes from a “hold” rating to a “buy” rating in a research note on Sunday, July 28th.

Institutional Investors Weigh In On Alkermes

A number of institutional investors and hedge funds have recently modified their holdings of ALKS. EFG Asset Management North America Corp. grew its holdings in Alkermes by 0.5% during the 2nd quarter. EFG Asset Management North America Corp. now owns 75,864 shares of the company’s stock worth $1,828,000 after acquiring an additional 359 shares during the period. United Services Automobile Association boosted its position in shares of Alkermes by 3.1% in the 2nd quarter. United Services Automobile Association now owns 13,208 shares of the company’s stock worth $318,000 after purchasing an additional 400 shares during the last quarter. Signaturefd LLC grew 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 purchasing an additional 480 shares during the period. Fisher Asset Management LLC increased its holdings in Alkermes by 1.0% in the fourth quarter. Fisher Asset Management LLC now owns 59,942 shares of the company’s stock valued at $1,663,000 after purchasing an additional 572 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Alkermes by 0.9% in the fourth quarter. Victory Capital Management Inc. now owns 76,718 shares of the company’s stock valued at $2,128,000 after buying an additional 675 shares during the period. 95.21% of the stock is owned by institutional investors.

Alkermes Trading Down 0.5 %

Shares of Alkermes stock opened at $25.94 on Thursday. Alkermes has a 12-month low of $22.01 and a 12-month high of $32.88. The stock has a market capitalization of $4.39 billion, a P/E ratio of 10.25, a price-to-earnings-growth ratio of 0.56 and a beta of 0.47. The company has a 50-day simple moving average of $25.13 and a 200 day simple moving average of $26.03. The company has a quick ratio of 2.61, a current ratio of 2.99 and a debt-to-equity ratio of 0.22.

Alkermes (NASDAQ:ALKS) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.70 earnings per share for the quarter, hitting the consensus estimate of $0.70. Alkermes had a net margin of 19.15% and a return on equity of 23.20%. 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 prior year, the firm earned $0.38 earnings per share. The company’s quarterly revenue was down 35.4% compared to the same quarter last year. Research analysts expect that Alkermes will post 2.36 earnings per share for the current fiscal year.

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.