Alkermes (NASDAQ:ALKS) Price Target Cut to $43.00

Alkermes (NASDAQ:ALKS) had its target price reduced by Cantor Fitzgerald from $48.00 to $43.00 in a report issued on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price target points to a potential upside of 64.81% from the company’s previous close.

Several other equities analysts also recently issued reports on ALKS. Piper Sandler reissued an “overweight” rating and set a $37.00 price target (down previously from $38.00) on shares of Alkermes in a report on Friday. HC Wainwright reissued a “neutral” rating and set a $37.00 target price on shares of Alkermes in a research note on Friday. StockNews.com upgraded shares of Alkermes from a “hold” rating to a “buy” rating in a research note on Sunday, July 28th. Robert W. Baird boosted their price objective on Alkermes from $37.00 to $38.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, JPMorgan Chase & Co. increased their price objective on Alkermes from $31.00 to $32.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $34.90.

Alkermes Price Performance

Shares of NASDAQ:ALKS opened at $26.09 on Friday. The company has a quick ratio of 2.61, a current ratio of 2.99 and a debt-to-equity ratio of 0.22. The firm has a 50-day simple moving average of $27.83 and a 200 day simple moving average of $25.87. Alkermes has a fifty-two week low of $22.06 and a fifty-two week high of $32.88. The company has a market cap of $4.41 billion, a PE ratio of 10.31, a P/E/G ratio of 0.56 and a beta of 0.46.

Alkermes (NASDAQ:ALKS) last released its quarterly earnings data on Wednesday, July 24th. The company reported $0.70 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.70. The business had revenue of $399.13 million during the quarter, compared to analyst estimates of $393.30 million. Alkermes had a return on equity of 23.20% and a net margin of 19.15%. The business’s revenue for the quarter was down 35.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.38 EPS. On average, sell-side analysts anticipate that Alkermes will post 2.36 EPS for the current year.

Institutional Investors Weigh In On Alkermes

Institutional investors have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new stake in shares of Alkermes in the 3rd quarter worth $29,000. Signaturefd LLC boosted its stake in Alkermes by 51.2% during the second quarter. Signaturefd LLC now owns 1,417 shares of the company’s stock valued at $34,000 after buying an additional 480 shares in the last quarter. Hexagon Capital Partners LLC grew its holdings in Alkermes by 3,841.0% during the second quarter. Hexagon Capital Partners LLC now owns 1,537 shares of the company’s stock worth $37,000 after acquiring an additional 1,498 shares during the period. GAMMA Investing LLC grew its holdings in Alkermes by 44.4% during the second quarter. GAMMA Investing LLC now owns 2,287 shares of the company’s stock worth $55,000 after acquiring an additional 703 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Alkermes in the second quarter worth about $116,000. 95.21% of the stock is currently 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.