Alkermes plc (NASDAQ:ALKS) Receives $36.70 Consensus Target Price from Analysts

Shares of Alkermes plc (NASDAQ:ALKS) have received an average recommendation of “Moderate Buy” from the ten ratings firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $36.70.

A number of equities research analysts recently issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $48.00 price objective on shares of Alkermes in a report on Thursday, October 10th. HC Wainwright reissued a “neutral” rating and issued a $37.00 price target on shares of Alkermes in a research note on Monday, October 14th. StockNews.com raised shares of Alkermes from a “hold” rating to a “buy” rating in a research report on Sunday, July 28th. Robert W. Baird upped their price objective on Alkermes from $37.00 to $38.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, JPMorgan Chase & Co. raised their target price on Alkermes from $31.00 to $32.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th.

Institutional Trading of Alkermes

A number of institutional investors and hedge funds have recently bought and sold shares of the business. V Square Quantitative Management LLC purchased a new stake in shares of Alkermes during the third quarter worth $29,000. Signaturefd LLC increased its holdings in Alkermes by 51.2% during the 2nd 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. Hexagon Capital Partners LLC raised its position in 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 in the last quarter. GAMMA Investing LLC boosted its stake in shares of Alkermes by 44.4% in the 2nd quarter. GAMMA Investing LLC now owns 2,287 shares of the company’s stock valued at $55,000 after buying an additional 703 shares during the period. Finally, CWM LLC grew its position in shares of Alkermes by 36.7% during the first quarter. CWM LLC now owns 2,732 shares of the company’s stock worth $74,000 after buying an additional 733 shares in the last quarter. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

Alkermes Price Performance

ALKS stock opened at $26.85 on Tuesday. Alkermes has a 1 year low of $22.01 and a 1 year high of $32.88. The firm has a market capitalization of $4.54 billion, a PE ratio of 10.61, a price-to-earnings-growth ratio of 0.56 and a beta of 0.46. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.99 and a quick ratio of 2.61. The business has a 50 day simple moving average of $27.85 and a 200-day simple moving average of $25.87.

Alkermes (NASDAQ:ALKS) last issued its earnings results on Wednesday, July 24th. The company reported $0.70 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.70. The business had revenue of $399.13 million during 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 company’s revenue for the quarter was down 35.4% on a year-over-year basis. During the same period last year, the company earned $0.38 EPS. Equities research analysts anticipate that Alkermes will post 2.36 earnings per share for the current fiscal year.

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.