Alkermes plc (NASDAQ:ALKS) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Alkermes plc (NASDAQ:ALKS) have earned a consensus rating of “Moderate Buy” from the eleven analysts that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $36.50.

ALKS has been the topic of a number of analyst reports. Piper Sandler restated an “overweight” rating and issued a $39.00 price objective on shares of Alkermes in a research report on Monday, April 1st. Jefferies Financial Group boosted their price objective on shares of Alkermes from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. HC Wainwright reiterated a “neutral” rating and set a $35.00 price target on shares of Alkermes in a research report on Tuesday, June 4th. StockNews.com cut shares of Alkermes from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Finally, TD Cowen initiated coverage on shares of Alkermes in a research report on Monday. They set a “buy” rating and a $34.00 price target on the stock.

Alkermes Stock Performance

Alkermes stock opened at $24.42 on Wednesday. The company has a quick ratio of 2.77, a current ratio of 3.20 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $4.13 billion, a PE ratio of 9.65, a P/E/G ratio of 0.49 and a beta of 0.47. The firm has a fifty day simple moving average of $24.25 and a two-hundred day simple moving average of $26.68. Alkermes has a twelve month low of $22.01 and a twelve month high of $33.71.

Alkermes (NASDAQ:ALKS) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.15). Alkermes had a return on equity of 20.31% and a net margin of 25.17%. The business had revenue of $350.37 million during the quarter, compared to the consensus estimate of $360.26 million. During the same period in the prior year, the firm earned ($0.10) earnings per share. The business’s revenue for the quarter was up 21.8% on a year-over-year basis. Research analysts expect that Alkermes will post 2.27 EPS for the current year.

Institutional Investors 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 lifted its stake in shares of Alkermes by 421.8% in the first 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 in the last quarter. Wellington Management Group LLP lifted its stake in shares of Alkermes by 52.7% in the third quarter. Wellington Management Group LLP now owns 11,746,792 shares of the company’s stock worth $329,028,000 after buying an additional 4,055,926 shares in the last quarter. RTW Investments LP lifted its stake in shares of Alkermes by 338.8% in the fourth 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 in the last quarter. Vanguard Group Inc. lifted its stake in shares of Alkermes by 12.3% in the fourth quarter. Vanguard Group Inc. now owns 20,955,454 shares of the company’s stock worth $581,304,000 after buying an additional 2,288,185 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Alkermes in the fourth quarter worth approximately $55,548,000. Hedge funds and other institutional investors own 95.21% of the company’s stock.

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.