Alkermes (NASDAQ:ALKS) Rating Reiterated by Piper Sandler

Alkermes (NASDAQ:ALKS)‘s stock had its “overweight” rating reiterated by equities researchers at Piper Sandler in a research report issued on Friday, Benzinga reports. They currently have a $37.00 price target on the stock, down from their prior price target of $38.00. Piper Sandler’s price target would indicate a potential upside of 41.82% from the company’s previous close.

ALKS has been the subject of several other reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $48.00 price objective on shares of Alkermes in a report on Thursday, October 10th. StockNews.com raised shares of Alkermes from a “hold” rating to a “buy” rating in a research note on Sunday, July 28th. Robert W. Baird raised their target price on shares of Alkermes from $37.00 to $38.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. upped their price target on shares of Alkermes from $31.00 to $32.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Finally, HC Wainwright reissued a “neutral” rating and set a $37.00 price objective on shares of Alkermes in a research note on Friday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.90.

Alkermes Stock Performance

Shares of ALKS opened at $26.09 on Friday. The company has a quick ratio of 2.61, a current ratio of 2.99 and a debt-to-equity ratio of 0.22. Alkermes has a 52-week low of $22.06 and a 52-week high of $32.88. The company has a 50-day simple moving average of $27.83 and a 200-day simple moving average of $25.87. The company has a market capitalization of $4.41 billion, a PE ratio of 10.31, a P/E/G ratio of 0.56 and a beta of 0.46.

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

Institutional Trading of Alkermes

Several hedge funds and other institutional investors have recently bought and sold shares of ALKS. Guidance Capital Inc. purchased a new stake in shares of Alkermes in the first quarter valued at $428,000. AlphaMark Advisors LLC acquired a new position in shares of Alkermes during the 1st quarter valued at about $297,000. Measured Wealth Private Client Group LLC lifted its holdings in shares of Alkermes by 28.5% during the 1st quarter. Measured Wealth Private Client Group LLC now owns 9,682 shares of the company’s stock worth $262,000 after acquiring an additional 2,148 shares during the period. First Trust Direct Indexing L.P. acquired a new stake in shares of Alkermes in the first quarter worth approximately $222,000. Finally, Capstone Investment Advisors LLC purchased a new stake in Alkermes in the first quarter valued at approximately $883,000. 95.21% of the stock is 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.