Alkermes (NASDAQ:ALKS) Coverage Initiated by Analysts at StockNews.com

Research analysts at StockNews.com began coverage on shares of Alkermes (NASDAQ:ALKS – Get Rating) in a research report issued on Thursday. The brokerage set a “strong-buy” rating on the stock.

Several other equities research analysts have also recently weighed in on the company. JPMorgan Chase & Co. upped their target price on Alkermes from $29.00 to $31.00 in a research note on Tuesday, April 25th. Mizuho increased their price objective on Alkermes from $36.00 to $37.00 and gave the company a “buy” rating in a report on Tuesday, April 11th. Stifel Nicolaus increased their price objective on Alkermes to $30.00 in a report on Thursday, February 16th. Finally, HC Wainwright increased their price objective on Alkermes from $32.00 to $34.00 in a report on Thursday, April 27th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $31.67.

Alkermes Trading Down 0.1 %

Shares of ALKS stock opened at $31.00 on Thursday. The company has a current ratio of 2.25, a quick ratio of 1.88 and a debt-to-equity ratio of 0.29. The stock has a market cap of $5.15 billion, a P/E ratio of -31.31 and a beta of 0.61. The stock has a 50 day simple moving average of $28.62 and a 200 day simple moving average of $26.93. Alkermes has a 1 year low of $21.75 and a 1 year high of $32.23.

Alkermes (NASDAQ:ALKS – Get Rating) last issued its quarterly earnings results on Thursday, February 16th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.09. The business had revenue of $304.70 million during the quarter, compared to analysts’ expectations of $289.80 million. Alkermes had a negative return on equity of 5.02% and a negative net margin of 14.65%. The firm’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.13 earnings per share. On average, research analysts predict that Alkermes will post -0.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Alkermes news, Director Nancy Wysenski sold 41,250 shares of the stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $31.24, for a total transaction of $1,288,650.00. Following the completion of the sale, the director now directly owns 15,829 shares in the company, valued at approximately $494,497.96. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 4.76% of the company’s stock.

Institutional Trading of Alkermes

Large investors have recently made changes to their positions in the company. TCI Wealth Advisors Inc. grew its stake in shares of Alkermes by 105.4% in the 1st quarter. TCI Wealth Advisors Inc. now owns 908 shares of the company’s stock valued at $26,000 after buying an additional 466 shares during the period. Neo Ivy Capital Management bought a new position in Alkermes in the 2nd quarter valued at about $27,000. EverSource Wealth Advisors LLC bought a new position in Alkermes in the 3rd quarter valued at about $34,000. Quantbot Technologies LP bought a new position in Alkermes in the 3rd quarter valued at about $53,000. Finally, Dark Forest Capital Management LP bought a new position in Alkermes in the 1st quarter valued at about $55,000. 96.15% of the stock is currently owned by institutional investors and hedge funds.

Alkermes Company Profile

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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.