Alkermes plc (NASDAQ:ALKS) Short Interest Update

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

Wall Street Analyst Weigh In

ALKS has been the topic of a number of recent research reports. HC Wainwright upped their price objective on shares of Alkermes from $35.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. StockNews.com raised shares of Alkermes from a “hold” rating to a “buy” rating in a research report on Sunday, July 28th. JPMorgan Chase & Co. raised their price objective on shares of Alkermes from $31.00 to $32.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $48.00 price objective on shares of Alkermes in a research note on Monday, September 16th. Finally, TD Cowen began coverage on shares of Alkermes in a report on Monday, June 17th. They issued a “buy” rating and a $34.00 target price for the company. One equities research 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $36.70.

Alkermes Stock Up 1.7 %

ALKS stock opened at $27.99 on Tuesday. The stock has a market capitalization of $4.74 billion, a P/E ratio of 11.06, a P/E/G ratio of 0.59 and a beta of 0.46. The firm has a 50-day simple moving average of $27.45 and a 200-day simple moving average of $25.73. The company has a quick ratio of 2.61, a current ratio of 2.99 and a debt-to-equity ratio of 0.22. Alkermes has a 52 week low of $22.01 and a 52 week high of $32.88.

Alkermes (NASDAQ:ALKS) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $0.70 earnings per share 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 analysts’ expectations of $393.30 million. During the same quarter in the prior year, the company posted $0.38 EPS. The business’s revenue for the quarter was down 35.4% on a year-over-year basis. Equities analysts forecast that Alkermes will post 2.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alkermes

Hedge funds and other institutional investors have recently modified their holdings of the company. Signaturefd LLC grew its position in Alkermes by 51.2% during the 2nd quarter. Signaturefd LLC now owns 1,417 shares of the company’s stock worth $34,000 after purchasing an additional 480 shares during the last quarter. Hexagon Capital Partners LLC grew its holdings in Alkermes by 3,841.0% in the second quarter. Hexagon Capital Partners LLC now owns 1,537 shares of the company’s stock valued at $37,000 after purchasing an additional 1,498 shares during the period. GAMMA Investing LLC grew its holdings in Alkermes by 44.4% in the second quarter. GAMMA Investing LLC now owns 2,287 shares of the company’s stock valued at $55,000 after purchasing an additional 703 shares during the period. CWM LLC grew its stake in Alkermes by 36.7% during the first quarter. CWM LLC now owns 2,732 shares of the company’s stock worth $74,000 after buying an additional 733 shares during the period. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Alkermes during the second quarter worth approximately $116,000. 95.21% of the stock is currently owned by institutional investors and hedge funds.

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.