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

Shares of Alkermes plc (NASDAQ:ALKS) have been given an average rating of “Moderate Buy” by the eleven research firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $36.70.

Several equities analysts have recently weighed in on the stock. StockNews.com upgraded shares of Alkermes from a “hold” rating to a “buy” rating in a report on Sunday, July 28th. TD Cowen began coverage on Alkermes in a research note on Monday, June 17th. They issued a “buy” rating and a $34.00 price objective for the company. HC Wainwright upped their target price on Alkermes from $35.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. lifted their price target 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. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $48.00 price target on shares of Alkermes in a research note on Monday, September 16th.

Institutional Investors Weigh In On Alkermes

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Alkermes by 12.3% in the 4th quarter. Vanguard Group Inc. now owns 20,955,454 shares of the company’s stock worth $581,304,000 after purchasing an additional 2,288,185 shares in the last quarter. Wellington Management Group LLP increased its stake in Alkermes by 29.8% in the 4th quarter. Wellington Management Group LLP now owns 15,241,470 shares of the company’s stock worth $422,798,000 after acquiring an additional 3,494,678 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of 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 valued at $225,393,000 after acquiring an additional 6,730,671 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Alkermes by 31.8% during the 2nd quarter. Pacer Advisors Inc. now owns 5,640,642 shares of the company’s stock valued at $135,939,000 after acquiring an additional 1,362,079 shares during the last quarter. Finally, RTW Investments LP grew its holdings in shares of Alkermes by 338.8% during the fourth quarter. RTW Investments LP now owns 3,901,523 shares of the company’s stock worth $108,228,000 after purchasing an additional 3,012,450 shares in the last quarter. 95.21% of the stock is owned by hedge funds and other institutional investors.

Alkermes Stock Performance

ALKS stock opened at $27.53 on Friday. Alkermes has a 1-year low of $22.01 and a 1-year high of $32.88. The company has a current ratio of 2.99, a quick ratio of 2.61 and a debt-to-equity ratio of 0.22. The stock has a 50-day moving average price of $27.39 and a 200-day moving average price of $25.76. The firm has a market cap of $4.66 billion, a PE ratio of 10.88, a price-to-earnings-growth ratio of 0.59 and a beta of 0.46.

Alkermes (NASDAQ:ALKS) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $0.70 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.70. The firm had revenue of $399.13 million for 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 company’s revenue was down 35.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.38 earnings per share. As a group, equities research analysts expect that Alkermes will post 2.36 earnings per share for the current year.

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.