Alkermes (NASDAQ:ALKS) Lifted to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of Alkermes (NASDAQ:ALKS) from a buy rating to a strong-buy rating in a research report released on Thursday morning.

Other research analysts also recently issued research reports about the company. TheStreet upgraded Alkermes from a c rating to a b rating in a research note on Wednesday, July 26th. Cantor Fitzgerald restated an overweight rating on shares of Alkermes in a research note on Monday, July 10th. Piper Sandler raised their target price on Alkermes from $35.00 to $37.00 in a research note on Wednesday, June 7th. Mizuho raised their target price on Alkermes from $36.00 to $40.00 in a research note on Wednesday, June 7th. Finally, HC Wainwright restated a neutral rating and issued a $34.00 target price on shares of Alkermes in a research note on Thursday, July 27th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $33.33.

Alkermes Stock Down 0.8 %

ALKS stock opened at $29.60 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.48 and a current ratio of 2.87. The company has a market capitalization of $4.93 billion, a price-to-earnings ratio of 51.93 and a beta of 0.60. Alkermes has a fifty-two week low of $21.75 and a fifty-two week high of $33.71. The stock has a fifty day moving average of $29.28 and a 200-day moving average of $29.38.

Alkermes (NASDAQ:ALKS) last posted its quarterly earnings results on Wednesday, July 26th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.10. The company had revenue of $617.40 million during the quarter, compared to the consensus estimate of $572.57 million. Alkermes had a return on equity of 2.33% and a net margin of 7.04%. As a group, equities research analysts predict that Alkermes will post 0.94 earnings per share for the current year.

Institutional Trading of Alkermes

Institutional investors and hedge funds have recently modified their holdings of the business. Arrowstreet Capital Limited Partnership purchased a new position in shares of Alkermes during the 1st quarter valued at about $56,494,000. Millennium Management LLC raised its holdings in shares of Alkermes by 164.9% during the 4th quarter. Millennium Management LLC now owns 3,427,885 shares of the company’s stock valued at $89,571,000 after buying an additional 2,133,877 shares in the last quarter. Pictet Asset Management SA raised its holdings in shares of Alkermes by 279.0% during the 1st quarter. Pictet Asset Management SA now owns 2,772,291 shares of the company’s stock valued at $78,151,000 after buying an additional 2,040,819 shares in the last quarter. Putnam Investments LLC raised its holdings in shares of Alkermes by 156.4% during the 4th quarter. Putnam Investments LLC now owns 2,843,972 shares of the company’s stock valued at $74,313,000 after buying an additional 1,734,660 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Alkermes during the 4th quarter valued at about $44,358,000. 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 the fields of neuroscience and oncology in the United States, Ireland, and internationally. It has a portfolio of proprietary commercial products focused on alcohol dependence, opioid dependence, schizophrenia and bipolar I disorder and a pipeline of product candidates in development for neurological disorders and cancer.