Cowen set a $34.00 price objective on Alkermes (NASDAQ:ALKS) in a research note published on Friday morning, AnalystRatings.com reports. The firm currently has a buy rating on the stock.
Several other analysts have also recently issued reports on the company. ValuEngine upgraded Alkermes from a sell rating to a hold rating in a research note on Thursday, August 1st. HC Wainwright assumed coverage on Alkermes in a research note on Friday, May 31st. They issued a neutral rating and a $28.00 price objective on the stock. Citigroup set a $25.00 price objective on Alkermes and gave the company a hold rating in a research note on Friday, July 26th. Goldman Sachs Group upgraded Alkermes from a sell rating to a neutral rating and set a $27.00 price objective on the stock in a research note on Monday, July 15th. Finally, Morgan Stanley upgraded Alkermes from an underweight rating to an equal rating and reduced their price objective for the company from $30.00 to $20.00 in a research note on Thursday, September 5th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company’s stock. Alkermes presently has an average rating of Hold and an average target price of $28.45.
Shares of NASDAQ ALKS opened at $22.83 on Friday. The stock has a market cap of $3.55 billion, a P/E ratio of -326.14 and a beta of 1.82. The company has a current ratio of 2.98, a quick ratio of 2.69 and a debt-to-equity ratio of 0.25. Alkermes has a 12-month low of $19.36 and a 12-month high of $45.16. The business’s fifty day simple moving average is $21.41 and its 200-day simple moving average is $26.32.
Alkermes (NASDAQ:ALKS) last announced its quarterly earnings data on Thursday, July 25th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.20. The business had revenue of $279.90 million for the quarter, compared to analysts’ expectations of $251.40 million. Alkermes had a negative return on equity of 4.13% and a negative net margin of 17.10%. The company’s revenue for the quarter was down 8.1% compared to the same quarter last year. During the same period last year, the firm earned $0.29 earnings per share. On average, equities analysts forecast that Alkermes will post -0.39 EPS for the current fiscal year.
In related news, CEO Richard F. Pops sold 100,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $22.68, for a total value of $2,268,000.00. Following the transaction, the chief executive officer now owns 816,433 shares of the company’s stock, valued at $18,516,700.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.71% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Alkermes by 74.0% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 50,829 shares of the company’s stock valued at $1,146,000 after buying an additional 21,616 shares during the last quarter. Atria Investments LLC purchased a new position in Alkermes in the second quarter valued at $877,000. Treasurer of the State of North Carolina increased its holdings in Alkermes by 20.6% in the second quarter. Treasurer of the State of North Carolina now owns 76,736 shares of the company’s stock valued at $1,730,000 after buying an additional 13,082 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Alkermes by 10.4% during the second quarter. BlackRock Inc. now owns 11,137,923 shares of the company’s stock worth $251,050,000 after purchasing an additional 1,052,841 shares during the last quarter. Finally, Royal Bank of Canada grew its holdings in shares of Alkermes by 153.9% during the second quarter. Royal Bank of Canada now owns 36,496 shares of the company’s stock worth $823,000 after purchasing an additional 22,124 shares during the last quarter. 95.90% of the stock is currently 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 various therapeutic areas in the United States, Ireland, and internationally. The company's marketed products include ARISTADA (aripiprazole lauroxil), an extended-release intramuscular injectable suspension for the treatment of schizophrenia; VIVITROL (naltrexone for extended-release injectable suspension) for the treatment of alcohol and 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 for treating schizophrenia; and AMPYRA (dalfampridine)/FAMPYRA (fampridine) to enhance walking in adults with multiple sclerosis (MS) who have walking disability.
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