Alkermes (NASDAQ:ALKS) Now Covered by Analysts at UBS Group

Posted by on Oct 18th, 2023

UBS Group initiated coverage on shares of Alkermes (NASDAQ:ALKS – Free Report) in a research report released on Tuesday morning, Marketbeat Ratings reports. The firm issued a neutral rating and a $31.00 target price on the stock.

Several other research analysts have also weighed in on the stock. StockNews.com lowered shares of Alkermes from a strong-buy rating to a buy rating in a research note on Monday. TheStreet raised shares of Alkermes from a c rating to a b rating in a research note on Wednesday, July 26th. HC Wainwright reissued a neutral rating and set a $34.00 price objective on shares of Alkermes in a research note on Thursday, July 27th. Finally, Cantor Fitzgerald reaffirmed an overweight rating on shares of Alkermes in a research note on Monday, July 10th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $33.00.

Read Our Latest Research Report on ALKS

Alkermes Trading Down 1.3 %

ALKS opened at $27.66 on Tuesday. Alkermes has a 1-year low of $21.76 and a 1-year high of $33.71. The firm has a 50-day moving average price of $28.71 and a two-hundred day moving average price of $29.66. The company has a current ratio of 2.87, a quick ratio of 2.48 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $4.61 billion, a PE ratio of 48.53 and a beta of 0.60.

Alkermes (NASDAQ:ALKS – Get Free Report) last issued its quarterly earnings results on Wednesday, July 26th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.28 by $0.10. Alkermes had a net margin of 7.04% and a return on equity of 2.33%. The company had revenue of $617.40 million during the quarter, compared to analysts’ expectations of $572.57 million. As a group, equities analysts anticipate that Alkermes will post 0.93 earnings per share for the current fiscal year.

Institutional Trading of Alkermes

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. acquired a new position in Alkermes during the first quarter worth $4,369,000. Raymond James & Associates increased its holdings in Alkermes by 132.4% during the first quarter. Raymond James & Associates now owns 32,763 shares of the company’s stock worth $862,000 after buying an additional 18,667 shares during the last quarter. US Bancorp DE increased its holdings in Alkermes by 24.0% during the first quarter. US Bancorp DE now owns 10,571 shares of the company’s stock worth $279,000 after buying an additional 2,044 shares during the last quarter. Bank of Montreal Can acquired a new position in Alkermes during the first quarter worth $203,000. Finally, Acadian Asset Management LLC increased its holdings in Alkermes by 660.7% during the first quarter. Acadian Asset Management LLC now owns 21,945 shares of the company’s stock worth $576,000 after buying an additional 19,060 shares during the last quarter. 95.21% of the stock is currently owned by institutional investors and hedge funds.

About Alkermes

(Get Free Report)

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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Analyst Recommendations for Alkermes (NASDAQ:ALKS)

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