Alkermes (NASDAQ:ALKS) Price Target Cut to $30.00

Alkermes (NASDAQ:ALKS) had its target price dropped by equities researchers at The Goldman Sachs Group from $32.00 to $30.00 in a report released on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective suggests a potential upside of 14.99% from the stock’s current price.

A number of other research analysts also recently issued reports on the company. Robert W. Baird boosted their price objective on Alkermes from $37.00 to $38.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. HC Wainwright reiterated a “neutral” rating and issued a $37.00 target price on shares of Alkermes in a report on Friday. Cantor Fitzgerald cut their price target on Alkermes from $48.00 to $43.00 and set an “overweight” rating on the stock in a report on Friday. JPMorgan Chase & Co. reduced their price objective on shares of Alkermes from $32.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday. Finally, StockNews.com upgraded shares of Alkermes from a “hold” rating to a “buy” rating in a research report on Sunday, July 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Alkermes has an average rating of “Moderate Buy” and a consensus price target of $34.90.

Alkermes Stock Down 2.8 %

Alkermes stock opened at $26.09 on Friday. The firm has a market cap of $4.41 billion, a price-to-earnings ratio of 10.31, a PEG ratio of 0.56 and a beta of 0.46. Alkermes has a 52-week low of $22.06 and a 52-week high of $32.88. 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 firm has a 50 day moving average price of $27.83 and a two-hundred day moving average price of $25.87.

Alkermes (NASDAQ:ALKS) last announced its earnings results on Wednesday, July 24th. The company reported $0.70 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.70. The business had revenue of $399.13 million during the quarter, compared to the consensus estimate of $393.30 million. Alkermes had a net margin of 19.15% and a return on equity of 23.20%. Alkermes’s quarterly revenue was down 35.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.38 earnings per share. Equities analysts predict that Alkermes will post 2.36 EPS for the current year.

Institutional Trading of Alkermes

Hedge funds and other institutional investors have recently bought and sold shares of the business. V Square Quantitative Management LLC bought a new position in shares of Alkermes in the third quarter valued at $29,000. Signaturefd LLC raised its holdings in shares of Alkermes by 51.2% in the 2nd quarter. Signaturefd LLC now owns 1,417 shares of the company’s stock worth $34,000 after acquiring an additional 480 shares during the last quarter. Hexagon Capital Partners LLC lifted its position in Alkermes by 3,841.0% in the 2nd quarter. Hexagon Capital Partners LLC now owns 1,537 shares of the company’s stock valued at $37,000 after acquiring an additional 1,498 shares in the last quarter. GAMMA Investing LLC boosted its stake in Alkermes by 44.4% during the 2nd quarter. GAMMA Investing LLC now owns 2,287 shares of the company’s stock valued at $55,000 after purchasing an additional 703 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Alkermes during the 2nd quarter worth approximately $116,000. 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.