Alkermes (NASDAQ:ALKS) Lowered to Buy at StockNews.com

Alkermes (NASDAQ:ALKSGet Free Report) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Monday.

Several other research analysts also recently issued reports on the company. Piper Sandler reduced their price objective on Alkermes from $37.00 to $35.00 and set an “overweight” rating on the stock in a report on Friday, October 27th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $33.00 price objective on shares of Alkermes in a report on Monday, November 20th. Bank of America upped their price objective on Alkermes from $27.00 to $29.00 and gave the stock a “neutral” rating in a report on Tuesday, January 2nd. Evercore ISI raised Alkermes from an “in-line” rating to an “outperform” rating in a report on Tuesday, October 24th. Finally, Mizuho reduced their price objective on Alkermes from $37.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, October 26th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.43.

Read Our Latest Report on ALKS

Alkermes Stock Up 2.4 %

Shares of ALKS opened at $27.04 on Monday. The company has a market capitalization of $4.51 billion, a P/E ratio of 21.81 and a beta of 0.55. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.91 and a quick ratio of 2.53. Alkermes has a one year low of $22.01 and a one year high of $33.71. The business’s 50 day simple moving average is $27.41 and its 200-day simple moving average is $27.41.

Institutional Trading of Alkermes

Several institutional investors and hedge funds have recently made changes to their positions in the business. Maryland State Retirement & Pension System bought a new stake in shares of Alkermes in the 4th quarter valued at $1,682,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Alkermes in the 4th quarter valued at $209,000. Todd Asset Management LLC increased its position in shares of Alkermes by 10.7% in the 4th quarter. Todd Asset Management LLC now owns 123,048 shares of the company’s stock valued at $3,413,000 after buying an additional 11,882 shares in the last quarter. Axxcess Wealth Management LLC increased its position in shares of Alkermes by 10.5% in the 4th quarter. Axxcess Wealth Management LLC now owns 22,567 shares of the company’s stock valued at $626,000 after buying an additional 2,142 shares in the last quarter. Finally, LSV Asset Management bought a new stake in shares of Alkermes in the 4th quarter valued at $3,246,000. Institutional investors own 95.21% of the company’s stock.

Alkermes Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Alkermes (NASDAQ:ALKS)

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