Alkermes (NASDAQ:ALKS) Receives “Neutral” Rating from HC Wainwright

Alkermes (NASDAQ:ALKS)‘s stock had its “neutral” rating reaffirmed by stock analysts at HC Wainwright in a research note issued on Thursday, Stock Target Advisor reports. They currently have a $46.00 target price on the stock. HC Wainwright’s price target suggests a potential upside of 37.31% from the company’s previous close.

ALKS has been the subject of several other research reports. Piper Sandler reiterated an “overweight” rating and set a $37.00 target price (down previously from $38.00) on shares of Alkermes in a research report on Friday, October 25th. JPMorgan Chase & Co. decreased their target price on Alkermes from $32.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. The Goldman Sachs Group lowered their target price on shares of Alkermes from $32.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Mizuho boosted their price target on shares of Alkermes from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, Cantor Fitzgerald dropped their price objective on Alkermes from $48.00 to $43.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.08.

Alkermes Stock Up 4.8 %

Shares of NASDAQ ALKS opened at $33.50 on Thursday. Alkermes has a 52-week low of $22.90 and a 52-week high of $33.73. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.03 and a current ratio of 3.45. The business has a fifty day moving average of $30.16 and a two-hundred day moving average of $28.65. The stock has a market cap of $5.42 billion, a PE ratio of 17.18, a PEG ratio of 1.83 and a beta of 0.49.

Alkermes (NASDAQ:ALKS) last announced its earnings results on Wednesday, February 12th. The company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.11. Alkermes had a net margin of 22.15% and a return on equity of 24.92%. As a group, equities research analysts expect that Alkermes will post 2.23 earnings per share for the current fiscal year.

Insider Transactions at Alkermes

In other Alkermes news, Director Cato T. Laurencin sold 2,691 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $31.85, for a total value of $85,708.35. Following the completion of the transaction, the director now directly owns 23,013 shares in the company, valued at $732,964.05. This trade represents a 10.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Christian Todd Nichols sold 5,208 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $29.15, for a total value of $151,813.20. Following the transaction, the senior vice president now directly owns 60,703 shares in the company, valued at $1,769,492.45. This trade represents a 7.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 179,189 shares of company stock valued at $5,723,518 over the last three months. Company insiders own 4.89% of the company’s stock.

Hedge Funds Weigh In On Alkermes

A number of institutional investors have recently added to or reduced their stakes in ALKS. Sanctuary Advisors LLC bought a new position in shares of Alkermes in the 2nd quarter valued at about $228,000. CWM LLC grew its holdings in Alkermes by 83.4% during the third quarter. CWM LLC now owns 14,547 shares of the company’s stock worth $407,000 after purchasing an additional 6,615 shares during the period. Creative Planning increased its position in Alkermes by 51.7% during the third quarter. Creative Planning now owns 50,629 shares of the company’s stock worth $1,417,000 after buying an additional 17,264 shares during the last quarter. Vontobel Holding Ltd. raised its stake in Alkermes by 128.9% in the third quarter. Vontobel Holding Ltd. now owns 56,261 shares of the company’s stock valued at $1,575,000 after buying an additional 31,687 shares during the period. Finally, V Square Quantitative Management LLC acquired a new position in shares of Alkermes during the 3rd quarter worth approximately $29,000. 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.