Alkermes (NASDAQ:ALKS) Given New $43.00 Price Target at Cantor Fitzgerald

Alkermes (NASDAQ:ALKS) had its price objective reduced by Cantor Fitzgerald from $48.00 to $43.00 in a research note released on Friday morning, Benzinga reports. Cantor Fitzgerald currently has an overweight rating on the stock.

Several other research firms have also commented on ALKS. Robert W. Baird boosted their price objective on shares of Alkermes from $37.00 to $38.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. HC Wainwright reaffirmed a “neutral” rating and set a $37.00 price target on shares of Alkermes in a research report on Friday. Piper Sandler reissued an “overweight” rating and issued a $37.00 price objective (down previously from $38.00) on shares of Alkermes in a research report on Friday. StockNews.com raised Alkermes from a “hold” rating to a “buy” rating in a research report on Sunday, July 28th. Finally, JPMorgan Chase & Co. raised their price target on Alkermes from $31.00 to $32.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Alkermes has an average rating of “Moderate Buy” and a consensus price target of $34.90.

Alkermes Trading Down 2.8 %

Shares of NASDAQ ALKS opened at $26.09 on Friday. Alkermes has a 1-year low of $22.06 and a 1-year high of $32.88. The business has a fifty day moving average price of $27.83 and a 200 day moving average price of $25.87. The stock has a market capitalization of $4.41 billion, a P/E ratio of 10.31, a price-to-earnings-growth ratio of 0.56 and a beta of 0.46. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.99 and a quick ratio of 2.61.

Hedge Funds Weigh In On Alkermes

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its position in Alkermes by 421.8% during 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 purchasing an additional 6,730,671 shares during the period. Pacer Advisors Inc. increased its position in shares of Alkermes by 31.8% in the second quarter. Pacer Advisors Inc. now owns 5,640,642 shares of the company’s stock valued at $135,939,000 after buying an additional 1,362,079 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Alkermes by 14.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,884,012 shares of the company’s stock worth $69,507,000 after acquiring an additional 371,039 shares in the last quarter. Armistice Capital LLC raised its position in shares of Alkermes by 301.5% during the 2nd quarter. Armistice Capital LLC now owns 2,699,179 shares of the company’s stock worth $65,050,000 after purchasing an additional 2,026,961 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Alkermes by 87.1% during the second quarter. American Century Companies Inc. now owns 2,203,456 shares of the company’s stock valued at $53,103,000 after acquiring an additional 1,025,905 shares during the last quarter. 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.