Alkermes’ (ALKS) Neutral Rating Reaffirmed at HC Wainwright

Alkermes (NASDAQ:ALKS)‘s stock had its “neutral” rating restated by stock analysts at HC Wainwright in a report released on Friday, Benzinga reports. They currently have a $37.00 price objective on the stock. HC Wainwright’s target price suggests a potential upside of 37.80% from the company’s previous close.

Several other analysts also recently weighed in on ALKS. Cantor Fitzgerald reiterated an “overweight” rating and set a $48.00 target price on shares of Alkermes in a research report on Thursday, October 10th. Robert W. Baird lifted their price target on shares of Alkermes from $37.00 to $38.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. increased their price objective on Alkermes from $31.00 to $32.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Finally, StockNews.com upgraded Alkermes from a “hold” rating to a “buy” rating in a report on Sunday, July 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $36.70.

Alkermes Price Performance

ALKS stock opened at $26.85 on Friday. The company has a current ratio of 2.99, a quick ratio of 2.61 and a debt-to-equity ratio of 0.22. Alkermes has a 12 month low of $22.01 and a 12 month high of $32.88. The stock has a market cap of $4.54 billion, a PE ratio of 10.61, a P/E/G ratio of 0.56 and a beta of 0.46. The company has a 50-day moving average price of $27.85 and a 200 day moving average price of $25.87.

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

Institutional Investors Weigh In On Alkermes

A number of hedge funds have recently made changes to their positions in the stock. Guidance Capital Inc. bought a new position in Alkermes in the first quarter worth about $428,000. AlphaMark Advisors LLC bought a new position in shares of Alkermes during the 1st quarter worth approximately $297,000. Measured Wealth Private Client Group LLC boosted its stake in Alkermes by 28.5% in the first quarter. Measured Wealth Private Client Group LLC now owns 9,682 shares of the company’s stock valued at $262,000 after acquiring an additional 2,148 shares in the last quarter. First Trust Direct Indexing L.P. purchased a new position in Alkermes in the first quarter worth $222,000. Finally, Capstone Investment Advisors LLC acquired a new position in shares of Alkermes during the first quarter worth $883,000. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

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.