Alkermes (NASDAQ:ALKS) Rating Reiterated by Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Alkermes (NASDAQ:ALKS) in a report published on Monday morning, Benzinga reports. Cantor Fitzgerald currently has a $48.00 price objective on the stock.

A number of other brokerages have also recently issued reports on ALKS. JPMorgan Chase & Co. increased their price objective on shares of Alkermes from $31.00 to $32.00 and gave the stock a neutral rating in a research note on Thursday, July 25th. StockNews.com upgraded Alkermes from a hold rating to a buy rating in a research note on Sunday, July 28th. HC Wainwright boosted 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. TD Cowen initiated coverage on Alkermes in a research report on Monday, June 17th. They set a buy rating and a $34.00 target price for the company. Finally, Robert W. Baird boosted their price target on Alkermes from $37.00 to $38.00 and gave the stock an outperform rating in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Alkermes has a consensus rating of Moderate Buy and a consensus target price of $36.70.

Alkermes Price Performance

Shares of Alkermes stock opened at $28.35 on Monday. The stock has a market cap of $4.80 billion, a P/E ratio of 11.21, a P/E/G ratio of 0.56 and a beta of 0.46. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.61 and a current ratio of 2.99. The stock’s fifty day moving average is $27.00 and its 200 day moving average is $25.86. Alkermes has a one year low of $22.01 and a one year high of $32.88.

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

Hedge Funds Weigh In On Alkermes

Institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its position in shares of Alkermes by 3.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,403,195 shares of the company’s stock valued at $66,666,000 after buying an additional 90,219 shares in the last quarter. S&CO Inc. raised its position in Alkermes by 13.2% during the fourth quarter. S&CO Inc. now owns 173,145 shares of the company’s stock valued at $4,803,000 after purchasing an additional 20,145 shares during the period. RTW Investments LP lifted its stake in shares of Alkermes by 338.8% in the 4th quarter. RTW Investments LP now owns 3,901,523 shares of the company’s stock valued at $108,228,000 after purchasing an additional 3,012,450 shares during the last quarter. Foundry Partners LLC purchased a new position in shares of Alkermes in the 1st quarter worth approximately $3,857,000. Finally, Los Angeles Capital Management LLC increased its position in shares of Alkermes by 525.5% during the 1st quarter. Los Angeles Capital Management LLC now owns 146,381 shares of the company’s stock valued at $3,963,000 after purchasing an additional 122,980 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.