Alkermes plc (NASDAQ:ALKS) Short Interest Update

Alkermes plc (NASDAQ:ALKS) was the recipient of a significant decrease in short interest in the month of May. As of May 31st, there was short interest totalling 11,730,000 shares, a decrease of 9.4% from the May 15th total of 12,940,000 shares. Based on an average daily volume of 1,890,000 shares, the short-interest ratio is presently 6.2 days.

Hedge Funds Weigh In On Alkermes

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its position in shares of Alkermes by 421.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,326,256 shares of the company’s stock worth $225,393,000 after buying an additional 6,730,671 shares during the period. Wellington Management Group LLP boosted its position in shares of Alkermes by 52.7% during the third quarter. Wellington Management Group LLP now owns 11,746,792 shares of the company’s stock worth $329,028,000 after purchasing an additional 4,055,926 shares in the last quarter. RTW Investments LP raised its stake in Alkermes by 338.8% during the 4th quarter. RTW Investments LP now owns 3,901,523 shares of the company’s stock worth $108,228,000 after buying an additional 3,012,450 shares during the period. Vanguard Group Inc. lifted its holdings in Alkermes by 12.3% during the fourth quarter. Vanguard Group Inc. now owns 20,955,454 shares of the company’s stock worth $581,304,000 after acquiring an additional 2,288,185 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Alkermes in the fourth quarter worth about $55,548,000. 95.21% of the stock is owned by institutional investors.

Alkermes Price Performance

NASDAQ ALKS opened at $25.01 on Tuesday. The stock’s 50-day moving average is $24.30 and its two-hundred day moving average is $26.68. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.20 and a quick ratio of 2.77. Alkermes has a fifty-two week low of $22.01 and a fifty-two week high of $33.71. The firm has a market cap of $4.23 billion, a P/E ratio of 9.89, a price-to-earnings-growth ratio of 0.49 and a beta of 0.47.

Alkermes (NASDAQ:ALKS) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.43 EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $360.26 million. During the same period last year, the company earned ($0.10) earnings per share. Alkermes’s revenue for the quarter was up 21.8% compared to the same quarter last year. On average, analysts anticipate that Alkermes will post 2.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ALKS. Piper Sandler restated an “overweight” rating and issued a $39.00 price objective on shares of Alkermes in a report on Monday, April 1st. TD Cowen assumed coverage on shares of Alkermes in a research report on Monday. They set a “buy” rating and a $34.00 price objective for the company. Robert W. Baird began coverage on shares of Alkermes in a report on Tuesday, March 19th. They issued an “outperform” rating and a $37.00 target price on the stock. UBS Group lowered shares of Alkermes from a “neutral” rating to a “sell” rating and set a $25.00 price target on the stock. in a research report on Tuesday, February 20th. Finally, HC Wainwright restated a “neutral” rating and issued a $35.00 target price on shares of Alkermes in a report on Tuesday, June 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Alkermes presently has a consensus rating of “Moderate Buy” and an average target price of $36.50.

About Alkermes

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.