Alkermes (NASDAQ:ALKS – Free Report) had its price target boosted by HC Wainwright from $35.00 to $37.00 in a research report report published on Thursday morning, Benzinga reports. They currently have a neutral rating on the stock.
ALKS has been the topic of several other research reports. TD Cowen initiated coverage on Alkermes in a research note on Monday, June 17th. They issued a buy rating and a $34.00 target price on the stock. JPMorgan Chase & Co. cut their target price on Alkermes from $32.00 to $31.00 and set a neutral rating on the stock in a research note on Monday, July 15th. StockNews.com cut Alkermes from a buy rating to a hold rating in a research note on Saturday, July 20th. Jefferies Financial Group upped their price objective on Alkermes from $42.00 to $50.00 and gave the stock a buy rating in a research note on Tuesday, April 9th. Finally, Cantor Fitzgerald upped their price objective on Alkermes from $43.00 to $48.00 and gave the company an overweight rating in a report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $36.70.
Read Our Latest Report on ALKS
Alkermes Trading Down 0.6 %
Alkermes (NASDAQ:ALKS – Get Free Report) last released its quarterly earnings data 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 return on equity of 23.20% and a net margin of 19.15%. The business had revenue of $399.13 million for the quarter, compared to analysts’ expectations of $393.30 million. During the same quarter in the previous year, the business posted $0.38 EPS. Alkermes’s revenue for the quarter was down 35.4% on a year-over-year basis. Sell-side analysts expect that Alkermes will post 2.25 earnings per share for the current fiscal year.
Institutional Trading of Alkermes
Several institutional investors and hedge funds have recently modified their holdings of ALKS. McGlone Suttner Wealth Management Inc. bought a new position in Alkermes in the fourth quarter valued at about $30,000. GAMMA Investing LLC acquired a new stake in shares of Alkermes in the fourth quarter valued at about $35,000. Hexagon Capital Partners LLC increased its stake in shares of 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 buying an additional 1,498 shares during the period. Daiwa Securities Group Inc. increased its stake in shares of Alkermes by 166.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 1,761 shares of the company’s stock valued at $49,000 after buying an additional 1,100 shares during the period. Finally, CWM LLC increased its stake in shares of Alkermes by 92.8% in the fourth quarter. CWM LLC now owns 1,999 shares of the company’s stock valued at $55,000 after buying an additional 962 shares during the period. 95.21% of the stock is currently owned by institutional investors.
About Alkermes
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.
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