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Alkermes (NASDAQ:ALKS) Now Covered by Analysts at The Goldman Sachs Group

Alkermes logo with Medical background

The Goldman Sachs Group initiated coverage on shares of Alkermes (NASDAQ:ALKS - Get Free Report) in a research report issued on Tuesday, Marketbeat.com reports. The brokerage set a "buy" rating and a $43.00 price target on the stock. The Goldman Sachs Group's price objective would indicate a potential upside of 46.99% from the company's current price.

A number of other brokerages also recently issued reports on ALKS. Wall Street Zen downgraded Alkermes from a "strong-buy" rating to a "buy" rating in a research report on Monday, May 5th. UBS Group raised Alkermes from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $33.00 to $42.00 in a research report on Tuesday, June 17th. Royal Bank Of Canada raised their target price on Alkermes from $39.00 to $40.00 and gave the company a "sector perform" rating in a report on Friday, May 2nd. HC Wainwright restated a "neutral" rating on shares of Alkermes in a report on Friday, May 2nd. Finally, Needham & Company LLC started coverage on Alkermes in a report on Wednesday, May 28th. They set a "buy" rating and a $45.00 target price for the company. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Alkermes currently has an average rating of "Moderate Buy" and an average price target of $40.92.

Check Out Our Latest Research Report on ALKS

Alkermes Price Performance

Shares of NASDAQ:ALKS traded down $0.11 during midday trading on Tuesday, reaching $29.25. 650,651 shares of the company's stock were exchanged, compared to its average volume of 1,725,882. The firm's 50 day simple moving average is $30.04 and its two-hundred day simple moving average is $30.88. The stock has a market cap of $4.82 billion, a price-to-earnings ratio of 13.97, a P/E/G ratio of 1.82 and a beta of 0.44. Alkermes has a fifty-two week low of $24.48 and a fifty-two week high of $36.45.

Alkermes (NASDAQ:ALKS - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.32 by ($0.19). The business had revenue of $306.51 million for the quarter, compared to analyst estimates of $307.53 million. Alkermes had a return on equity of 27.52% and a net margin of 23.30%. The firm's revenue for the quarter was down 12.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.43 earnings per share. Equities research analysts predict that Alkermes will post 1.31 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Christian Todd Nichols sold 3,334 shares of Alkermes stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $31.09, for a total value of $103,654.06. Following the completion of the transaction, the senior vice president owned 86,208 shares in the company, valued at approximately $2,680,206.72. This trade represents a 3.72% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 4.40% of the company's stock.

Hedge Funds Weigh In On Alkermes

Several hedge funds and other institutional investors have recently made changes to their positions in ALKS. Proficio Capital Partners LLC purchased a new position in shares of Alkermes in the 4th quarter valued at about $940,000. Raymond James Financial Inc. acquired a new stake in shares of Alkermes during the 4th quarter worth about $12,293,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Alkermes by 13.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,336 shares of the company's stock worth $1,103,000 after acquiring an additional 4,444 shares in the last quarter. HighTower Advisors LLC raised its position in shares of Alkermes by 34.8% during the 4th quarter. HighTower Advisors LLC now owns 16,543 shares of the company's stock worth $476,000 after acquiring an additional 4,269 shares in the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new stake in shares of Alkermes during the 4th quarter worth about $215,000. Hedge funds and other institutional investors own 95.21% of the company's stock.

Alkermes Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for Alkermes (NASDAQ:ALKS)

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