Alkermes plc (NASDAQ:ALKS) Short Interest Update

Alkermes plc (NASDAQ:ALKS) saw a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 18,620,000 shares, an increase of 8.3% from the August 31st total of 17,190,000 shares. Based on an average trading volume of 1,760,000 shares, the days-to-cover ratio is currently 10.6 days.

Alkermes Stock Up 1.3 %

NASDAQ ALKS opened at $27.53 on Friday. The stock has a 50 day moving average price of $27.39 and a 200-day moving average price of $25.76. Alkermes has a one year low of $22.01 and a one year high of $32.88. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.61 and a current ratio of 2.99. The company has a market capitalization of $4.66 billion, a P/E ratio of 10.88, a P/E/G ratio of 0.59 and a beta of 0.46.

Alkermes (NASDAQ:ALKS) last released its quarterly earnings data on Wednesday, July 24th. The company reported $0.70 EPS for the quarter, meeting the consensus estimate of $0.70. Alkermes had a net margin of 19.15% and a return on equity of 23.20%. The business had revenue of $399.13 million during the quarter, compared to analyst estimates of $393.30 million. During the same quarter last year, the business earned $0.38 earnings per share. Alkermes’s quarterly revenue was down 35.4% compared to the same quarter last year. As a group, equities analysts predict that Alkermes will post 2.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ALKS shares. Robert W. Baird increased 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 increased their price target on Alkermes from $35.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. StockNews.com upgraded Alkermes from a “hold” rating to a “buy” rating in a research report on Sunday, July 28th. Cantor Fitzgerald reiterated an “overweight” rating and set a $48.00 target price on shares of Alkermes in a research report on Monday, September 16th. Finally, TD Cowen assumed coverage on Alkermes in a research note on Monday, June 17th. They set a “buy” rating and a $34.00 target price on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $36.70.

Institutional Investors Weigh In On Alkermes

Several large investors have recently added to or reduced their stakes in the stock. Signaturefd LLC raised its stake in shares of Alkermes by 51.2% in the second quarter. Signaturefd LLC now owns 1,417 shares of the company’s stock valued at $34,000 after acquiring an additional 480 shares during the period. Hexagon Capital Partners LLC lifted its stake in Alkermes by 3,841.0% in the second quarter. Hexagon Capital Partners LLC now owns 1,537 shares of the company’s stock worth $37,000 after purchasing an additional 1,498 shares during the last quarter. GAMMA Investing LLC lifted its stake in Alkermes by 44.4% in the second quarter. GAMMA Investing LLC now owns 2,287 shares of the company’s stock worth $55,000 after purchasing an additional 703 shares during the last quarter. CWM LLC boosted its position in shares of Alkermes by 36.7% during the first quarter. CWM LLC now owns 2,732 shares of the company’s stock valued at $74,000 after buying an additional 733 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Alkermes during the second quarter valued at approximately $116,000. 95.21% of the stock is owned by 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.