Brokerages Set Alkermes plc (NASDAQ:ALKS) Price Target at $36.70

Shares of Alkermes plc (NASDAQ:ALKS) have earned a consensus recommendation of “Moderate Buy” from the eleven analysts that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $36.70.

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Alkermes from $31.00 to $32.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. TD Cowen initiated coverage on Alkermes in a report on Monday, June 17th. They set a “buy” rating and a $34.00 price target for the company. StockNews.com raised Alkermes from a “hold” rating to a “buy” rating in a research note on Sunday, July 28th. Cantor Fitzgerald reiterated an “overweight” rating and set a $48.00 price objective on shares of Alkermes in a research note on Thursday, July 25th. Finally, HC Wainwright increased their target price on shares of Alkermes from $35.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th.

Hedge Funds Weigh In On Alkermes

Institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD increased its stake in Alkermes by 421.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,326,256 shares of the company’s stock worth $225,393,000 after acquiring an additional 6,730,671 shares during the last quarter. Wellington Management Group LLP increased its position in Alkermes by 29.8% in the fourth quarter. Wellington Management Group LLP now owns 15,241,470 shares of the company’s stock worth $422,798,000 after purchasing an additional 3,494,678 shares during the last quarter. RTW Investments LP raised its stake in Alkermes by 338.8% during the fourth quarter. RTW Investments LP now owns 3,901,523 shares of the company’s stock valued at $108,228,000 after purchasing an additional 3,012,450 shares in the last quarter. Vanguard Group Inc. lifted its position in Alkermes by 12.3% during the fourth quarter. Vanguard Group Inc. now owns 20,955,454 shares of the company’s stock valued at $581,304,000 after purchasing an additional 2,288,185 shares during the last quarter. Finally, Armistice Capital LLC grew its stake in shares of Alkermes by 301.5% in the 2nd quarter. Armistice Capital LLC now owns 2,699,179 shares of the company’s stock worth $65,050,000 after buying an additional 2,026,961 shares in the last quarter. 95.21% of the stock is owned by hedge funds and other institutional investors.

Alkermes Stock Up 0.5 %

ALKS stock opened at $28.26 on Monday. The company has a market cap of $4.78 billion, a price-to-earnings ratio of 11.17, a P/E/G ratio of 0.59 and a beta of 0.47. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.61 and a current ratio of 2.99. The business’s 50-day moving average is $26.21 and its two-hundred day moving average is $26.02. Alkermes has a fifty-two week low of $22.01 and a fifty-two week high of $32.88.

Alkermes (NASDAQ:ALKS) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.70 earnings per share for the quarter, hitting the consensus estimate of $0.70. The firm had revenue of $399.13 million for the quarter, compared to analysts’ expectations of $393.30 million. Alkermes had a net margin of 19.15% and a return on equity of 23.20%. The business’s quarterly revenue was down 35.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.38 EPS. As a group, analysts forecast that Alkermes will post 2.37 earnings per share for the current year.

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.