StockNews.com Begins Coverage on Alkermes (NASDAQ:ALKS)

Equities research analysts at StockNews.com initiated coverage on shares of Alkermes (NASDAQ:ALKS – Get Rating) in a report released on Thursday. The brokerage set a “buy” rating on the stock.

ALKS has been the subject of several other reports. Stifel Nicolaus raised their price target on shares of Alkermes to $30.00 in a report on Thursday, February 16th. Mizuho raised their price target on shares of Alkermes from $34.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday, November 22nd. JPMorgan Chase & Co. cut their price target on shares of Alkermes from $33.00 to $29.00 and set a “neutral” rating for the company in a report on Tuesday, December 6th. Bank of America raised their price target on shares of Alkermes from $27.00 to $28.00 in a report on Sunday, January 8th. Finally, HC Wainwright reissued a “neutral” rating and issued a $32.00 price target on shares of Alkermes in a report on Friday, February 17th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Alkermes has a consensus rating of “Hold” and an average target price of $30.11.

Alkermes Stock Down 0.7 %

Alkermes stock opened at $26.62 on Thursday. Alkermes has a 1-year low of $21.75 and a 1-year high of $32.79. The firm has a market capitalization of $4.38 billion, a price-to-earnings ratio of -27.73 and a beta of 0.60. The company has a current ratio of 2.27, a quick ratio of 1.91 and a debt-to-equity ratio of 0.28. The firm has a 50 day simple moving average of $27.42 and a 200 day simple moving average of $25.11.

Alkermes (NASDAQ:ALKS – Get Rating) last released its quarterly earnings data on Thursday, February 16th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.09. Alkermes had a negative net margin of 14.23% and a negative return on equity of 3.32%. The business had revenue of $304.70 million during the quarter, compared to analyst estimates of $289.80 million. During the same period in the previous year, the business earned $0.13 EPS. Alkermes’s revenue was down 6.1% compared to the same quarter last year. On average, analysts predict that Alkermes will post -0.5 earnings per share for the current year.

Institutional Trading of Alkermes

A number of hedge funds have recently made changes to their positions in ALKS. JPMorgan Chase & Co. bought a new stake in Alkermes in the first quarter worth $4,369,000. Raymond James & Associates lifted its stake in Alkermes by 132.4% in the first quarter. Raymond James & Associates now owns 32,763 shares of the company’s stock worth $862,000 after purchasing an additional 18,667 shares during the last quarter. US Bancorp DE lifted its stake in Alkermes by 24.0% in the first quarter. US Bancorp DE now owns 10,571 shares of the company’s stock worth $279,000 after purchasing an additional 2,044 shares during the last quarter. Bank of Montreal Can bought a new stake in Alkermes in the first quarter worth $203,000. Finally, Acadian Asset Management LLC lifted its stake in Alkermes by 660.7% in the first quarter. Acadian Asset Management LLC now owns 21,945 shares of the company’s stock worth $576,000 after purchasing an additional 19,060 shares during the last quarter. 96.15% of the stock is owned by institutional investors.

About Alkermes

(Get Rating)

Alkermes Plc is a global biopharmaceutical company, which engages in the business of developing, manufacturing, and commercializing medicines designed to address unmet medical needs of patients in major therapeutic areas such as alcohol dependence, opioid dependence, schizophrenia and bipolar I disorder, and a pipeline of product candidates in development for neurological disorders and cancer.