Alkermes plc (NASDAQ:ALKS) Receives $36.70 Consensus PT from Analysts

Alkermes plc (NASDAQ:ALKS) has been given an average recommendation of “Moderate Buy” by the ten analysts that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $36.70.

Several equities analysts recently commented on the stock. StockNews.com raised shares of Alkermes from a “hold” rating to a “buy” rating in a research report on Sunday, July 28th. JPMorgan Chase & Co. raised their price target on shares of Alkermes from $31.00 to $32.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Robert W. Baird boosted their price objective on shares of Alkermes from $37.00 to $38.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Cantor Fitzgerald restated an “overweight” rating and issued a $48.00 target price on shares of Alkermes in a research note on Thursday, October 10th. Finally, HC Wainwright reaffirmed a “neutral” rating and set a $37.00 price target on shares of Alkermes in a research report on Monday, October 14th.

Alkermes Price Performance

ALKS opened at $26.85 on Tuesday. The firm has a market capitalization of $4.54 billion, a PE ratio of 10.61, a price-to-earnings-growth ratio of 0.56 and a beta of 0.46. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.99 and a quick ratio of 2.61. The business’s 50-day moving average is $27.85 and its two-hundred day moving average is $25.87. Alkermes has a 1 year low of $22.01 and a 1 year high of $32.88.

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

Institutional Trading of Alkermes

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC boosted its stake in shares of Alkermes by 1.6% in the third quarter. Nisa Investment Advisors LLC now owns 91,159 shares of the company’s stock worth $2,552,000 after acquiring an additional 1,431 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in Alkermes in the 3rd quarter valued at $281,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Alkermes by 17.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,956 shares of the company’s stock worth $164,000 after purchasing an additional 904 shares during the last quarter. Moody Aldrich Partners LLC boosted its stake in Alkermes by 36.8% during the 3rd quarter. Moody Aldrich Partners LLC now owns 84,907 shares of the company’s stock worth $2,377,000 after purchasing an additional 22,841 shares during the last quarter. Finally, Everence Capital Management Inc. grew its holdings in shares of Alkermes by 38.5% during the third quarter. Everence Capital Management Inc. now owns 18,380 shares of the company’s stock worth $514,000 after buying an additional 5,110 shares in the last quarter. 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.