Alkermes (NASDAQ:ALKS) Given New $43.00 Price Target at Cantor Fitzgerald

Alkermes (NASDAQ:ALKS) had its price target lowered by Cantor Fitzgerald from $48.00 to $43.00 in a research note published on Friday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

ALKS has been the subject of a number of other research reports. HC Wainwright restated a “neutral” rating and set a $37.00 target price on shares of Alkermes in a report on Friday. Robert W. Baird upped their target price on Alkermes from $37.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Piper Sandler restated an “overweight” rating and set a $37.00 target price (down previously from $38.00) on shares of Alkermes in a report on Friday. StockNews.com upgraded Alkermes from a “hold” rating to a “buy” rating in a report on Sunday, July 28th. Finally, JPMorgan Chase & Co. increased their price objective on Alkermes from $31.00 to $32.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $34.90.

Alkermes Stock Up 1.7 %

Shares of NASDAQ:ALKS opened at $26.53 on Friday. Alkermes has a 52-week low of $22.06 and a 52-week high of $32.88. The stock has a market cap of $4.49 billion, a P/E ratio of 10.49, a price-to-earnings-growth ratio of 0.56 and a beta of 0.46. The business’s 50 day moving average is $27.83 and its 200 day moving average is $25.87. The company has a quick ratio of 2.61, a current ratio of 2.99 and a debt-to-equity ratio of 0.22.

Hedge Funds Weigh In On Alkermes

Several hedge funds have recently made changes to their positions in ALKS. Price T Rowe Associates Inc. MD increased its position in shares of Alkermes by 421.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,326,256 shares of the company’s stock valued at $225,393,000 after acquiring an additional 6,730,671 shares during the period. Armistice Capital LLC grew its position in Alkermes by 301.5% during the 2nd quarter. Armistice Capital LLC now owns 2,699,179 shares of the company’s stock worth $65,050,000 after purchasing an additional 2,026,961 shares during the period. Pacer Advisors Inc. grew its position in Alkermes by 31.8% during the 2nd quarter. Pacer Advisors Inc. now owns 5,640,642 shares of the company’s stock worth $135,939,000 after purchasing an additional 1,362,079 shares during the period. American Century Companies Inc. grew its position in Alkermes by 87.1% during the 2nd quarter. American Century Companies Inc. now owns 2,203,456 shares of the company’s stock worth $53,103,000 after purchasing an additional 1,025,905 shares during the period. Finally, Affinity Asset Advisors LLC grew its position in Alkermes by 766.7% during the 2nd quarter. Affinity Asset Advisors LLC now owns 650,000 shares of the company’s stock worth $15,665,000 after purchasing an additional 575,000 shares during the period. 95.21% of the stock is owned by institutional investors and hedge funds.

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.