Research analysts at StockNews.com initiated coverage on shares of Alkermes (NASDAQ:ALKS – Get Free Report) in a research report issued to clients and investors on Thursday. The firm set a “strong-buy” rating on the stock.
A number of other research firms have also recently weighed in on ALKS. Piper Sandler raised their price target on shares of Alkermes from $35.00 to $37.00 in a report on Wednesday, June 7th. TheStreet upgraded shares of Alkermes from a “c” rating to a “b” rating in a research note on Wednesday, July 26th. HC Wainwright reaffirmed a “neutral” rating and set a $34.00 price target on shares of Alkermes in a research report on Thursday, July 27th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Alkermes in a report on Monday, July 10th. Finally, Mizuho boosted their target price on Alkermes from $36.00 to $40.00 in a research note on Wednesday, June 7th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $33.33.
Get Our Latest Stock Analysis on Alkermes
Alkermes Stock Up 1.5 %
Alkermes (NASDAQ:ALKS – Get Free Report) last issued its quarterly earnings data on Wednesday, July 26th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.10. Alkermes had a return on equity of 2.33% and a net margin of 7.04%. The firm had revenue of $617.40 million during the quarter, compared to analysts’ expectations of $572.57 million. On average, analysts forecast that Alkermes will post 0.94 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Alkermes
Several institutional investors and hedge funds have recently made changes to their positions in ALKS. TCI Wealth Advisors Inc. raised its stake in Alkermes by 105.4% in the 1st quarter. TCI Wealth Advisors Inc. now owns 908 shares of the company’s stock worth $26,000 after acquiring an additional 466 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Alkermes by 121.2% in the second quarter. Signaturefd LLC now owns 854 shares of the company’s stock valued at $27,000 after purchasing an additional 468 shares during the period. Neo Ivy Capital Management purchased a new position in shares of Alkermes in the second quarter worth about $27,000. Altshuler Shaham Ltd acquired a new stake in shares of Alkermes during the second quarter worth about $28,000. Finally, Castleview Partners LLC acquired a new stake in shares of Alkermes during the second quarter worth about $38,000. 95.21% of the stock is currently owned by institutional investors and hedge funds.
About Alkermes
Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in the fields of neuroscience and oncology in the United States, Ireland, and internationally. It has a portfolio of proprietary commercial products focused on alcohol dependence, opioid dependence, schizophrenia and bipolar I disorder and a pipeline of product candidates in development for neurological disorders and cancer.
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