Alkermes (NASDAQ:ALKS) Earns Buy Rating from Analysts at StockNews.com

Research analysts at StockNews.com initiated coverage on shares of Alkermes (NASDAQ:ALKS – Get Rating) in a research note issued to investors on Thursday. The firm set a “buy” rating on the stock.

A number of other analysts have also commented on ALKS. Bank of America boosted their price target on Alkermes from $27.00 to $28.00 in a report on Sunday, January 8th. HC Wainwright reaffirmed a “neutral” rating and set a $32.00 price target on shares of Alkermes in a research report on Friday, February 17th. JPMorgan Chase & Co. lowered their price objective on shares of Alkermes from $33.00 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday, December 6th. Stifel Nicolaus increased their target price on shares of Alkermes to $30.00 in a report on Thursday, February 16th. Finally, Mizuho boosted their price target on shares of Alkermes from $34.00 to $36.00 and gave the stock a “buy” rating in a research report on Tuesday, November 22nd. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $30.11.

Alkermes Price Performance

NASDAQ ALKS opened at $26.03 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.91 and a current ratio of 2.27. The stock has a market cap of $4.28 billion, a price-to-earnings ratio of -27.11 and a beta of 0.60. The business has a 50 day simple moving average of $27.43 and a 200 day simple moving average of $25.14. Alkermes has a 52-week low of $21.75 and a 52-week high of $32.79.

Alkermes (NASDAQ:ALKS – Get Rating) last issued its quarterly earnings data on Thursday, February 16th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.09. The company had revenue of $304.70 million during the quarter, compared to the consensus estimate of $289.80 million. Alkermes had a negative net margin of 14.23% and a negative return on equity of 3.32%. The firm’s revenue was down 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.13 earnings per share. Analysts anticipate that Alkermes will post -0.51 earnings per share for the current fiscal year.

Institutional Trading of Alkermes

A number of hedge funds have recently made changes to their positions in the business. Neo Ivy Capital Management acquired a new stake in Alkermes during the 2nd quarter valued at $27,000. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Alkermes during the third quarter worth $34,000. EverSource Wealth Advisors LLC bought a new stake in shares of Alkermes in the third quarter valued at about $34,000. International Biotechnology Trust PLC bought a new position in Alkermes during the second quarter worth about $51,000. Finally, Quantbot Technologies LP acquired a new stake in Alkermes in the 3rd quarter worth about $53,000. 96.15% of the stock is owned by institutional investors and hedge funds.

Alkermes Company Profile

(Get Rating)

Alkermes Plc is a global biopharmaceutical company, which engages in the business of developing, manufacturing, and commercializing medicines designed to address unmet medical needs of patients in major therapeutic areas such as alcohol dependence, opioid dependence, schizophrenia and bipolar I disorder, and a pipeline of product candidates in development for neurological disorders and cancer.