Alkermes (NASDAQ:ALKS – Get Rating) was upgraded by stock analysts at StockNews.com from a "buy" rating to a "strong-buy" rating in a report issued on Monday.
A number of other equities research analysts also recently weighed in on ALKS. Piper Sandler began coverage on shares of Alkermes in a research note on Tuesday, August 16th. They issued a "neutral" rating and a $26.00 target price on the stock. Mizuho cut their price target on shares of Alkermes from $36.00 to $34.00 and set a "buy" rating for the company in a research report on Thursday, July 28th. Finally, Stifel Nicolaus raised their target price on shares of Alkermes to $28.00 in a report on Wednesday, July 27th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $30.44.
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Alkermes Stock Up 0.9 %
NASDAQ:ALKS traded up $0.21 during trading hours on Monday, hitting $24.22. 829,513 shares of the company traded hands, compared to its average volume of 1,468,699. The company has a quick ratio of 2.03, a current ratio of 2.39 and a debt-to-equity ratio of 0.27. The company has a market cap of $3.98 billion, a PE ratio of -42.49 and a beta of 0.61. The firm's 50-day simple moving average is $26.78 and its 200-day simple moving average is $27.48. Alkermes has a one year low of $21.24 and a one year high of $33.00.
Alkermes (NASDAQ:ALKS – Get Rating) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.05. Alkermes had a negative net
margin of 8.02% and a positive return on equity of 0.79%. The company had revenue of $276.22 million during the quarter, compared to analyst estimates of $269.01 million. During the same quarter last year, the business posted $0.13 EPS. Alkermes's quarterly revenue was down 9.1% compared to the same quarter last year. Equities analysts predict that Alkermes will post -0.34 earnings per share for the current year.
Insider Transactions at Alkermes
In other Alkermes news, SVP Christian Todd Nichols sold 7,474 shares of Alkermes stock in a transaction that occurred on Tuesday, June 21st. The shares were sold at an average price of $28.26, for a total value of $211,215.24. Following the completion of the sale, the senior vice president now owns 21,035 shares of the company's stock, valued at approximately $594,449.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 4.76% of the company's stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC grew its position in shares of Alkermes by 100.0% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 1,000 shares of the company's stock valued at $26,000 after acquiring an additional 500 shares during the period. Bailard Inc. grew its holdings in Alkermes by 6.1% during the first quarter. Bailard Inc. now owns 10,487 shares of the company's stock valued at $276,000 after purchasing an additional 600 shares during the period. Exchange Traded Concepts LLC increased its position in Alkermes by 132.0% in the second quarter. Exchange Traded Concepts LLC now owns 1,506 shares of the company's stock worth $45,000 after buying an additional 857 shares in the last quarter. Neo Ivy Capital Management bought a new position in shares of Alkermes in the second quarter worth about $27,000. Finally, Ensign Peak Advisors Inc lifted its position in shares of Alkermes by 3.1% during the 1st quarter. Ensign Peak Advisors Inc now owns 31,000 shares of the company's stock valued at $816,000 after buying an additional 930 shares in the last quarter. 94.77% of the stock is owned by hedge funds and other institutional investors.
Alkermes Company Profile
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Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in various therapeutic areas in the United States, Ireland, and internationally. Its marketed products include ARISTADA, an intramuscular injectable suspension for the treatment of schizophrenia; VIVITROL for the treatment of alcohol and prevention of opioid dependence; RISPERDAL CONSTA for the treatment of schizophrenia and bipolar I disorder; INVEGA SUSTENNA for the treatment of schizophrenia and schizoaffective disorder; XEPLION, INVEGA TRINZA, and TREVICTA to treat schizophrenia and schizoaffective; and VUMERITY for the treatment of relapsing forms of multiple sclerosis in adults, including clinically isolated syndrome, relapsing-remitting and active secondary progressive diseases.
Further Reading
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