Alkermes (NASDAQ:ALKS) Stock Rating Reaffirmed by HC Wainwright

Alkermes (NASDAQ:ALKS)‘s stock had its “neutral” rating restated by research analysts at HC Wainwright in a report issued on Thursday, Benzinga reports. They presently have a $35.00 price objective on the stock. HC Wainwright’s price objective would indicate a potential upside of 45.53% from the stock’s current price.

Several other research analysts also recently weighed in on the stock. Piper Sandler reissued an “overweight” rating and issued a $39.00 target price on shares of Alkermes in a research note on Monday, April 1st. TheStreet upgraded shares of Alkermes from a “c+” rating to a “b” rating in a research report on Thursday, February 15th. UBS Group cut shares of Alkermes from a “neutral” rating to a “sell” rating and set a $25.00 target price for the company. in a research note on Tuesday, February 20th. Robert W. Baird assumed coverage on Alkermes in a research note on Tuesday, March 19th. They set an “outperform” rating and a $37.00 price target on the stock. Finally, Jefferies Financial Group lifted their price objective on Alkermes from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $35.38.

Alkermes Trading Up 0.8 %

Shares of ALKS opened at $24.05 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.13 and a quick ratio of 2.50. Alkermes has a 1-year low of $22.01 and a 1-year high of $33.71. The stock has a market cap of $4.07 billion, a price-to-earnings ratio of 9.51, a price-to-earnings-growth ratio of 0.66 and a beta of 0.61. The firm has a 50 day simple moving average of $26.73 and a 200-day simple moving average of $26.74.

Alkermes (NASDAQ:ALKS) last announced its earnings results on Wednesday, May 1st. The company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.15). Alkermes had a net margin of 25.17% and a return on equity of 20.31%. The company had revenue of $350.37 million for the quarter, compared to analyst estimates of $360.26 million. During the same quarter last year, the company posted ($0.10) EPS. Alkermes’s quarterly revenue was up 21.8% compared to the same quarter last year. Equities analysts forecast that Alkermes will post 2.22 EPS for the current fiscal year.

Alkermes declared that its Board of Directors has authorized a share buyback plan on Thursday, February 15th that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 8.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Alkermes

In other news, SVP Christian Todd Nichols sold 10,417 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $28.10, for a total value of $292,717.70. Following the transaction, the senior vice president now directly owns 65,911 shares in the company, valued at approximately $1,852,099.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.76% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alkermes

Institutional investors have recently bought and sold shares of the business. Emerald Advisers LLC acquired a new position in shares of Alkermes during the 3rd quarter valued at $27,000. CWM LLC lifted its stake in shares of Alkermes by 147.5% during the third quarter. CWM LLC now owns 1,037 shares of the company’s stock worth $29,000 after purchasing an additional 618 shares in the last quarter. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Alkermes in the fourth quarter worth about $30,000. GAMMA Investing LLC acquired a new stake in shares of Alkermes in the fourth quarter valued at about $35,000. Finally, C M Bidwell & Associates Ltd. purchased a new stake in shares of Alkermes during the 3rd quarter valued at about $37,000. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

Alkermes Company Profile

Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in therapeutic areas in the United States, Ireland, and internationally. It has a portfolio of proprietary commercial products for the treatment of alcohol dependence, opioid dependence, schizophrenia and bipolar I disorder and a pipeline of clinical and preclinical product candidates in development for neurological disorders.