Brokerages Set Alkermes plc (NASDAQ:ALKS) PT at $29.67

Alkermes plc (NASDAQ:ALKSGet Rating) has received a consensus rating of “Moderate Buy” from the eleven brokerages that are covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $29.89.

A number of equities analysts recently weighed in on the company. Piper Sandler raised Alkermes from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $26.00 to $30.00 in a report on Thursday, November 3rd. Mizuho boosted their price objective on Alkermes from $34.00 to $36.00 and gave the stock a “buy” rating in a research note on Tuesday. Bank of America upgraded Alkermes from an “underperform” rating to a “neutral” rating and cut their price objective for the stock from $27.00 to $25.00 in a research note on Friday, October 14th. Finally, StockNews.com lowered Alkermes from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 2nd.

Alkermes Trading Down 0.9 %

Shares of NASDAQ ALKS opened at $24.27 on Tuesday. Alkermes has a twelve month low of $21.24 and a twelve month high of $32.79. The business has a fifty day simple moving average of $22.96 and a two-hundred day simple moving average of $25.96. The firm has a market cap of $3.99 billion, a PE ratio of -31.12 and a beta of 0.60. The company has a quick ratio of 1.89, a current ratio of 2.24 and a debt-to-equity ratio of 0.28.

Alkermes (NASDAQ:ALKSGet Rating) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). Alkermes had a negative net margin of 11.41% and a negative return on equity of 1.10%. The company had revenue of $252.36 million during the quarter, compared to analysts’ expectations of $271.45 million. During the same quarter in the prior year, the business posted ($0.02) earnings per share. The company’s revenue was down 14.2% compared to the same quarter last year. Analysts expect that Alkermes will post -0.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ALKS. Vanguard Group Inc. lifted its stake in Alkermes by 4.8% during the third quarter. Vanguard Group Inc. now owns 18,107,902 shares of the company’s stock worth $404,350,000 after purchasing an additional 828,769 shares in the last quarter. BlackRock Inc. lifted its stake in Alkermes by 5.8% during the first quarter. BlackRock Inc. now owns 15,080,046 shares of the company’s stock worth $396,756,000 after purchasing an additional 827,759 shares in the last quarter. State Street Corp raised its stake in shares of Alkermes by 9.4% in the third quarter. State Street Corp now owns 6,467,201 shares of the company’s stock valued at $144,413,000 after acquiring an additional 556,097 shares in the last quarter. Hardman Johnston Global Advisors LLC raised its stake in shares of Alkermes by 7.0% in the third quarter. Hardman Johnston Global Advisors LLC now owns 5,734,259 shares of the company’s stock valued at $128,046,000 after acquiring an additional 376,543 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Alkermes by 4.4% in the third quarter. Renaissance Technologies LLC now owns 5,556,113 shares of the company’s stock valued at $124,068,000 after acquiring an additional 233,500 shares in the last quarter. 94.77% of the stock is currently owned by hedge funds and other institutional investors.

Alkermes Company Profile

(Get Rating)

Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in various therapeutic areas in the United States, Ireland, and internationally. Its marketed products include ARISTADA, an intramuscular injectable suspension for the treatment of schizophrenia; VIVITROL for the treatment of alcohol and prevention of opioid dependence; RISPERDAL CONSTA for the treatment of schizophrenia and bipolar I disorder; INVEGA SUSTENNA for the treatment of schizophrenia and schizoaffective disorder; XEPLION, INVEGA TRINZA, and TREVICTA to treat schizophrenia and schizoaffective; and VUMERITY for the treatment of relapsing forms of multiple sclerosis in adults, including clinically isolated syndrome, relapsing-remitting and active secondary progressive diseases.

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Analyst Recommendations for Alkermes (NASDAQ:ALKS)

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