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

Alkermes plc (NASDAQ:ALKS) has received a consensus rating of “Moderate Buy” from the eleven analysts that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $36.70.

A number of analysts have recently weighed in on the stock. StockNews.com raised shares of Alkermes from a “hold” rating to a “buy” rating in a research report on Sunday, July 28th. Robert W. Baird boosted their price objective on shares of Alkermes from $37.00 to $38.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. raised their target price on shares of Alkermes from $31.00 to $32.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. HC Wainwright restated a “neutral” rating and issued a $37.00 price target on shares of Alkermes in a research note on Monday, October 14th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $48.00 target price on shares of Alkermes in a research note on Thursday, October 10th.

Alkermes Stock Performance

Alkermes stock opened at $27.71 on Tuesday. Alkermes has a fifty-two week low of $22.01 and a fifty-two week high of $32.88. The stock’s 50 day simple moving average is $27.79 and its two-hundred day simple moving average is $25.84. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.61 and a current ratio of 2.99. The stock has a market cap of $4.69 billion, a price-to-earnings ratio of 10.95, a PEG ratio of 0.56 and a beta of 0.46.

Alkermes (NASDAQ:ALKS) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.70 earnings per share for the quarter, meeting the consensus estimate of $0.70. The company had revenue of $399.13 million for the quarter, compared to analyst estimates of $393.30 million. Alkermes had a return on equity of 23.20% and a net margin of 19.15%. The firm’s revenue was down 35.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.38 earnings per share. As a group, analysts expect that Alkermes will post 2.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alkermes

Institutional investors and hedge funds have recently made changes to their positions in the business. American International Group Inc. lifted its position in shares of Alkermes by 9.1% during the 4th quarter. American International Group Inc. now owns 90,314 shares of the company’s stock valued at $2,505,000 after buying an additional 7,503 shares in the last quarter. Vanguard Group Inc. boosted its position 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 purchasing an additional 2,288,185 shares during the period. CWM LLC increased its stake in shares of Alkermes by 36.7% in the first quarter. CWM LLC now owns 2,732 shares of the company’s stock worth $74,000 after purchasing an additional 733 shares in the last quarter. Guidance Capital Inc. bought a new stake in shares of Alkermes during the 1st quarter valued at $428,000. Finally, AlphaMark Advisors LLC purchased a new position in shares of Alkermes during the 1st quarter valued at $297,000. 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.