Alkermes plc (NASDAQ:ALKS) Sees Large Increase in Short Interest

Alkermes plc (NASDAQ:ALKS) saw a large increase in short interest during the month of June. As of June 30th, there was short interest totalling 13,680,000 shares, an increase of 14.4% from the June 15th total of 11,960,000 shares. Based on an average daily volume of 1,840,000 shares, the short-interest ratio is presently 7.4 days.

Analysts Set New Price Targets

Several equities research analysts recently commented on ALKS shares. Robert W. Baird initiated coverage on Alkermes in a research note on Tuesday, March 19th. They issued an “outperform” rating and a $37.00 price target for the company. Jefferies Financial Group increased their price target on shares of Alkermes from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. HC Wainwright reaffirmed a “neutral” rating and issued a $35.00 price objective on shares of Alkermes in a research note on Tuesday, June 4th. TD Cowen started coverage on shares of Alkermes in a research report on Monday, June 17th. They set a “buy” rating and a $34.00 target price on the stock. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $39.00 price target on shares of Alkermes in a research report on Monday, April 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $36.50.

Alkermes Price Performance

NASDAQ ALKS opened at $23.57 on Monday. The stock has a market capitalization of $3.99 billion, a PE ratio of 9.32, a P/E/G ratio of 0.48 and a beta of 0.47. The stock has a 50-day simple moving average of $24.20 and a 200 day simple moving average of $26.31. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.77 and a current ratio of 3.20. Alkermes has a twelve month low of $22.01 and a twelve month high of $32.88.

Alkermes (NASDAQ:ALKS) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.15). The company had revenue of $350.37 million during the quarter, compared to analyst estimates of $360.26 million. Alkermes had a return on equity of 20.31% and a net margin of 25.17%. The company’s revenue was up 21.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.10) EPS. Research analysts anticipate that Alkermes will post 2.26 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. McGlone Suttner Wealth Management Inc. bought a new position in Alkermes during the fourth quarter valued at about $30,000. GAMMA Investing LLC acquired a new stake in shares of Alkermes during the 4th quarter worth approximately $35,000. Hexagon Capital Partners LLC increased its position in shares of Alkermes by 3,841.0% during the second quarter. Hexagon Capital Partners LLC now owns 1,537 shares of the company’s stock valued at $37,000 after purchasing an additional 1,498 shares during the period. Daiwa Securities Group Inc. raised its stake in shares of Alkermes by 166.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 1,761 shares of the company’s stock valued at $49,000 after purchasing an additional 1,100 shares in the last quarter. Finally, CWM LLC lifted its position in Alkermes by 92.8% in the fourth quarter. CWM LLC now owns 1,999 shares of the company’s stock worth $55,000 after purchasing an additional 962 shares during the period. Institutional investors and hedge funds own 95.21% of the company’s stock.

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.