Alkermes (NASDAQ:ALKS) Raised to "Strong-Buy" at Cantor Fitzgerald

Alkermes (NASDAQ:ALKS - Get Free Report) was upgraded by stock analysts at Cantor Fitzgerald to a "strong-buy" rating in a note issued to investors on Tuesday, May 13th,Zacks.com reports.

Several other analysts also recently weighed in on the stock. UBS Group reiterated a "sector perform" rating on shares of Alkermes in a research report on Monday, April 28th. Robert W. Baird boosted their price target on shares of Alkermes from $38.00 to $41.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Royal Bank of Canada increased their price objective on Alkermes from $39.00 to $40.00 and gave the company a "sector perform" rating in a research report on Friday, May 2nd. HC Wainwright reissued a "neutral" rating on shares of Alkermes in a research report on Friday, May 2nd. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Alkermes from $40.00 to $52.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given 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 $38.33.

Alkermes Stock Up 0.1%

Shares of NASDAQ:ALKS traded up $0.03 during trading on Tuesday, reaching $31.48. The stock had a trading volume of 199,063 shares, compared to its average volume of 1,754,777. The business has a fifty day moving average price of $30.52 and a 200-day moving average price of $30.77. The stock has a market cap of $5.19 billion, a P/E ratio of 14.50, a PEG ratio of 2.20 and a beta of 0.51. Alkermes has a fifty-two week low of $22.90 and a fifty-two week high of $36.45.

Alkermes (NASDAQ:ALKS - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.32 by ($0.19). The company had revenue of $306.51 million during the quarter, compared to analyst estimates of $307.53 million. Alkermes had a net margin of 23.57% and a return on equity of 30.80%. The firm's revenue for the quarter was down 12.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.43 EPS. As a group, equities analysts forecast that Alkermes will post 1.31 EPS for the current year.

Hedge Funds Weigh In On Alkermes

A number of large investors have recently modified their holdings of the business. Venturi Wealth Management LLC bought a new position in shares of Alkermes during the fourth quarter worth approximately $25,000. Twin Tree Management LP acquired a new position in Alkermes in the 1st quarter valued at $29,000. Brooklyn Investment Group lifted its position in shares of Alkermes by 1,071.1% during the 1st quarter. Brooklyn Investment Group now owns 1,054 shares of the company's stock valued at $35,000 after acquiring an additional 964 shares during the period. Quantbot Technologies LP grew its holdings in shares of Alkermes by 54.5% during the 1st quarter. Quantbot Technologies LP now owns 1,091 shares of the company's stock worth $36,000 after purchasing an additional 385 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Alkermes by 106.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,635 shares of the company's stock worth $47,000 after purchasing an additional 842 shares during the period. 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.