Alkermes (NASDAQ:ALKS) Rating Reiterated by HC Wainwright

Alkermes (NASDAQ:ALKS)‘s stock had its “neutral” rating reiterated by equities researchers at HC Wainwright in a research note issued to investors on Friday, Benzinga reports. They currently have a $37.00 target price on the stock. HC Wainwright’s target price suggests a potential upside of 41.82% from the stock’s current price.

Several other analysts have also recently issued reports on ALKS. Robert W. Baird upped their price objective on Alkermes from $37.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. 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 note on Thursday, July 25th. Cantor Fitzgerald restated an “overweight” rating and set a $48.00 target price on shares of Alkermes in a research report on Thursday, October 10th. Finally, StockNews.com raised shares of Alkermes from a “hold” rating to a “buy” rating in a report on Sunday, July 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $34.90.

Alkermes Price Performance

Shares of Alkermes stock opened at $26.09 on Friday. The company has a market capitalization of $4.41 billion, a price-to-earnings ratio of 10.31, a PEG ratio of 0.56 and a beta of 0.46. 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’s 50-day simple moving average is $27.83 and its 200-day simple moving average is $25.87. Alkermes has a 52 week low of $22.06 and a 52 week high of $32.88.

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 the consensus estimate 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 posted $0.38 earnings per share. The business’s revenue was down 35.4% compared to the same quarter last year. As a group, analysts expect that Alkermes will post 2.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alkermes

A number of large investors have recently bought and sold shares of ALKS. V Square Quantitative Management LLC purchased a new stake in Alkermes in the third quarter worth $29,000. Signaturefd LLC increased its stake in Alkermes by 51.2% in the 2nd quarter. Signaturefd LLC now owns 1,417 shares of the company’s stock worth $34,000 after buying an additional 480 shares during the period. Hexagon Capital Partners LLC lifted its holdings in Alkermes by 3,841.0% during the 2nd quarter. Hexagon Capital Partners LLC now owns 1,537 shares of the company’s stock valued at $37,000 after buying an additional 1,498 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Alkermes by 44.4% during 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 in the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Alkermes in the 2nd quarter valued at about $116,000. Hedge funds and other 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.