Alkermes (NASDAQ:ALKS – Get Rating) Bank of America upped their price objective on shares from $27.00 to $28.00 in a research note issued on Sunday, The Fly reports. Bank of America’s price objective would indicate a potential upside of 3.28% from the company’s current price.
ALKS has been the subject of numerous other research reports. JPMorgan Chase & Co. cut their price target on shares of Alkermes from $33.00 to $29.00 and set a “neutral” rating for the company in a report on Tuesday, December 6th. Mizuho boosted their target price on shares of Alkermes from $34.00 to $36.00 and gave the stock a “buy” rating in a report on Tuesday, November 22nd. Piper Sandler upgraded shares of Alkermes from a “neutral” rating to an “overweight” rating and upped their target price from $26.00 to $30.00 in a report on Thursday, November 3rd. Finally, StockNews.com downgraded shares of Alkermes from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 2nd. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Moderate Buy” and a consensus target price of $30.10, according to MarketBeat.com.
Alkermes shares rose by 7.1%
ALKS stock traded up $1.80 during trading hours on Friday, reaching $27.11. 2,177,675 shares traded hands, compared to its average volume of 1,148,688. The company has a current ratio of 2.24, a quick ratio of 1.89, and a debt-to-equity ratio of 0.28. The stock has a fifty day simple moving average of $24.68 and a 200 day simple moving average of $25.27. Alkermes has a 52 week low of $21.75 and a 52 week high of $32.79. The company has a market cap of $4.45 billion, a price-to-earnings ratio of -34.76 and a beta of 0.57.
Alkermes (NASDAQ:ALKS – Get Rating ) last posted its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). Alkermes had a negative net margin of 11.41% and a negative return on equity of 1.10%. The company had revenue of $252.36 million for the quarter, compared to the consensus estimate of $271.45 million. During the same period last year, the company earned ($0.02) earnings per share. The company’s revenue was down 14.2% year-over-year in the quarter. On average, equities analysts predict that Alkermes will post -0.31 EPS for the current year.
Hedge funds weigh in on Alkermes
Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Alkermes by 4.8% in the third quarter. Vanguard Group Inc. now owns 18,107,902 shares of the company’s stock valued at $404,350,000 after acquiring an additional 828,769 shares in the last quarter. BlackRock Inc. grew its position in Alkermes by 5.8% in the first quarter. BlackRock Inc. now owns 15,080,046 shares of the company’s stock valued at $396,756,000 after purchasing an additional 827,759 shares during the last quarter. State Street Corp lifted its position in Alkermes by 9.4% during the third quarter. State Street Corp now owns 6,467,201 shares of the company’s stock valued at $144,413,000 after buying an additional 556,097 shares in the last quarter. Hardman Johnston Global Advisors LLC boosted its position in Alkermes by 7.0% in the third quarter. Hardman Johnston Global Advisors LLC now owns 5,734,259 shares of the company’s stock valued at $128,046,000 after purchasing an additional 376,543 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in Alkermes by 4.4% in the third quarter. Renaissance Technologies LLC now owns 5,556,113 shares of the company’s stock valued at $124,068,000 after purchasing an additional 233,500 shares in the last quarter. Hedge funds and other institutional investors own 96.15% of the company’s shares.
Alkermes company profile
Alkermes plc, a biopharmaceutical company, researches, develops and markets pharmaceutical products to address unmet patient health needs in a variety of therapeutic areas in the United States, Ireland and globally. Its marketed products include ARISTADA, a suspension for intramuscular injection for the treatment of schizophrenia; VIVITROL for the treatment of alcoholism and prevention of opioid dependence; RISPERDAL CONSTA for the treatment of schizophrenia and bipolar I disorder; INVEGA SUSTENNA for the treatment of schizophrenia and schizoaffective disorder; XEPLION, INVEGA TRINZA and TREVICTA for the treatment of schizophrenia and schizoaffective disorder; and VUMERITY for the treatment of relapsing forms of multiple sclerosis in adults, including clinically isolated syndrome, relapsing-remitting and active secondary progressive disease.
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