Alkermes plc (NASDAQ:ALKS) Short Interest Update

Alkermes plc (NASDAQ:ALKS) saw a significant decline in short interest during the month of October. As of October 15th, there was short interest totalling 15,820,000 shares, a decline of 7.9% from the September 30th total of 17,180,000 shares. Based on an average trading volume of 1,720,000 shares, the days-to-cover ratio is presently 9.2 days.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on ALKS shares. JPMorgan Chase & Co. cut their price target on Alkermes from $32.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Piper Sandler reissued an “overweight” rating and issued a $37.00 price target (down from $38.00) on shares of Alkermes in a report on Friday, October 25th. StockNews.com raised Alkermes from a “hold” rating to a “buy” rating in a report on Sunday, July 28th. Cantor Fitzgerald cut their price target on Alkermes from $48.00 to $43.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Finally, Robert W. Baird upped their target price on Alkermes from $37.00 to $38.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $34.90.

Alkermes Price Performance

ALKS stock opened at $26.44 on Wednesday. The stock has a 50-day moving average price of $27.76 and a two-hundred day moving average price of $25.89. Alkermes has a 12-month low of $22.06 and a 12-month high of $32.88. The company has a current ratio of 2.99, a quick ratio of 2.61 and a debt-to-equity ratio of 0.22. The company has a market cap of $4.47 billion, a PE ratio of 10.45, a price-to-earnings-growth ratio of 0.56 and a beta of 0.46.

Institutional Investors Weigh In On Alkermes

A number of institutional investors have recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. grew its position in Alkermes by 92.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 95,509 shares of the company’s stock valued at $2,673,000 after acquiring an additional 45,857 shares during the period. Van ECK Associates Corp grew its position in Alkermes by 40.0% during the third quarter. Van ECK Associates Corp now owns 104,986 shares of the company’s stock valued at $2,924,000 after acquiring an additional 29,998 shares during the period. James Investment Research Inc. purchased a new stake in Alkermes during the third quarter valued at about $255,000. US Bancorp DE grew its position in Alkermes by 48.8% during the third quarter. US Bancorp DE now owns 10,302 shares of the company’s stock valued at $288,000 after acquiring an additional 3,378 shares during the period. Finally, First Trust Direct Indexing L.P. grew its position in Alkermes by 12.7% during the third quarter. First Trust Direct Indexing L.P. now owns 9,571 shares of the company’s stock valued at $268,000 after acquiring an additional 1,080 shares during the period. 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.