Alkermes (NASDAQ:ALKS) Stock Rating Reaffirmed by HC Wainwright

HC Wainwright reissued their neutral rating on shares of Alkermes (NASDAQ:ALKS) in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a $37.00 price target on the stock.

Other equities research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. boosted their target price on shares of Alkermes from $31.00 to $32.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Robert W. Baird boosted their price objective on Alkermes from $37.00 to $38.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $48.00 target price on shares of Alkermes in a report on Thursday, October 10th. Finally, StockNews.com upgraded 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 given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Alkermes currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.90.

Alkermes Stock Down 2.8 %

Shares of NASDAQ:ALKS opened at $26.09 on Friday. The firm has a market cap of $4.41 billion, a PE ratio of 10.31, a price-to-earnings-growth ratio of 0.56 and a beta of 0.46. The company has a fifty day simple moving average of $27.83 and a 200 day simple moving average of $25.87. The company has a current ratio of 2.99, a quick ratio of 2.61 and a debt-to-equity ratio of 0.22. Alkermes has a 12-month low of $22.06 and a 12-month high of $32.88.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALKS. EFG Asset Management North America Corp. lifted its stake in Alkermes by 0.5% in the second quarter. EFG Asset Management North America Corp. now owns 75,864 shares of the company’s stock valued at $1,828,000 after buying an additional 359 shares during the last quarter. United Services Automobile Association lifted its position in Alkermes by 3.1% in the 2nd quarter. United Services Automobile Association now owns 13,208 shares of the company’s stock valued at $318,000 after purchasing an additional 400 shares during the last quarter. Signaturefd LLC boosted its stake in Alkermes by 51.2% during the 2nd quarter. Signaturefd LLC now owns 1,417 shares of the company’s stock valued at $34,000 after purchasing an additional 480 shares during the period. Handelsbanken Fonder AB grew its position in Alkermes by 0.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 220,600 shares of the company’s stock worth $6,175,000 after purchasing an additional 700 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Alkermes by 44.4% in the second 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 period. Institutional investors and hedge funds own 95.21% of the company’s stock.

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.