HC Wainwright Reiterates “Neutral” Rating for Alkermes (NASDAQ:ALKS)

Alkermes (NASDAQ:ALKS)‘s stock had its “neutral” rating restated by research analysts at HC Wainwright in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $37.00 price objective on the stock. HC Wainwright’s target price would indicate a potential upside of 32.14% from the company’s previous close.

ALKS has been the subject of several other reports. StockNews.com upgraded Alkermes from a “hold” rating to a “buy” rating in a research note on Sunday, July 28th. Robert W. Baird boosted their price target on Alkermes from $37.00 to $38.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. TD Cowen initiated coverage on Alkermes in a research note on Monday, June 17th. They issued a “buy” rating and a $34.00 price target for the company. JPMorgan Chase & Co. boosted their price target on Alkermes from $31.00 to $32.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $48.00 price target on shares of Alkermes in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $36.70.

Alkermes Trading Down 3.6 %

Shares of NASDAQ:ALKS opened at $28.00 on Monday. Alkermes has a 12-month low of $22.01 and a 12-month high of $32.88. The stock has a market cap of $4.74 billion, a PE ratio of 11.07, a P/E/G ratio of 0.56 and a beta of 0.46. The business has a 50 day moving average of $27.65 and a 200-day moving average of $25.79. 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 (NASDAQ:ALKS) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.70 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.70. Alkermes had a return on equity of 23.20% and a net margin of 19.15%. The company had revenue of $399.13 million during the quarter, compared to analysts’ expectations of $393.30 million. During the same quarter in the previous year, the company posted $0.38 earnings per share. The business’s revenue was down 35.4% on a year-over-year basis. As a group, equities research analysts forecast that Alkermes will post 2.36 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Signaturefd LLC increased its holdings in shares of Alkermes by 51.2% during the second quarter. Signaturefd LLC now owns 1,417 shares of the company’s stock worth $34,000 after buying an additional 480 shares in the last quarter. Hexagon Capital Partners LLC grew its stake in shares of Alkermes by 3,841.0% in the second quarter. Hexagon Capital Partners LLC now owns 1,537 shares of the company’s stock worth $37,000 after purchasing an additional 1,498 shares during the last quarter. GAMMA Investing LLC grew 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 worth $55,000 after purchasing an additional 703 shares during the last quarter. CWM LLC grew its stake in shares of Alkermes by 36.7% in the first quarter. CWM LLC now owns 2,732 shares of the company’s stock worth $74,000 after purchasing an additional 733 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Alkermes in the second quarter worth $116,000. 95.21% of the stock is currently owned by institutional investors and hedge funds.

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.