Alkermes (NASDAQ:ALKS) Price Target Raised to $38.00

Alkermes (NASDAQ:ALKS) had its target price upped by Robert W. Baird from $37.00 to $38.00 in a research note issued to investors on Thursday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

A number of other equities analysts have also commented on ALKS. JPMorgan Chase & Co. cut their price objective on shares of Alkermes from $32.00 to $31.00 and set a neutral rating for the company in a research report on Monday, July 15th. HC Wainwright restated a neutral rating and issued a $35.00 price objective on shares of Alkermes in a research report on Tuesday, June 4th. StockNews.com lowered shares of Alkermes from a buy rating to a hold rating in a research report on Saturday, July 20th. Cantor Fitzgerald lifted their target price on shares of Alkermes from $43.00 to $48.00 and gave the company an overweight rating in a research report on Thursday, May 23rd. Finally, Jefferies Financial Group lifted their target price on shares of Alkermes from $42.00 to $50.00 and gave the company a buy rating in a research report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $36.70.

Alkermes Price Performance

ALKS opened at $27.88 on Thursday. The company has a market capitalization of $4.59 billion, a price-to-earnings ratio of 11.02, a PEG ratio of 0.61 and a beta of 0.47. The company has a quick ratio of 2.77, a current ratio of 2.99 and a debt-to-equity ratio of 0.22. The firm has a 50-day moving average price of $24.43 and a 200-day moving average price of $26.10. Alkermes has a twelve month low of $22.01 and a twelve month high of $32.88.

Alkermes (NASDAQ:ALKS) last released its quarterly earnings data on Wednesday, July 24th. The company reported $0.70 EPS for the quarter, meeting analysts’ consensus estimates of $0.70. Alkermes had a net margin of 19.15% and a return on equity of 23.20%. The company had revenue of $399.13 million during the quarter, compared to analyst estimates of $393.30 million. During the same period last year, the business earned $0.38 earnings per share. Alkermes’s revenue was down 35.4% compared to the same quarter last year. Equities analysts expect that Alkermes will post 2.51 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its stake in shares of Alkermes by 3.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,403,195 shares of the company’s stock worth $66,666,000 after acquiring an additional 90,219 shares in the last quarter. S&CO Inc. raised its stake in shares of Alkermes by 13.2% during the fourth quarter. S&CO Inc. now owns 173,145 shares of the company’s stock worth $4,803,000 after acquiring an additional 20,145 shares in the last quarter. Handelsbanken Fonder AB raised its stake in shares of Alkermes by 521.3% during the fourth quarter. Handelsbanken Fonder AB now owns 175,200 shares of the company’s stock worth $4,860,000 after acquiring an additional 147,000 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Alkermes by 81.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 377,489 shares of the company’s stock worth $10,472,000 after acquiring an additional 169,385 shares in the last quarter. Finally, RTW Investments LP raised its stake 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 acquiring 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 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.