Alkermes plc (NASDAQ:ALKS) Given Consensus Rating of "Moderate Buy" by Brokerages

Alkermes plc (NASDAQ:ALKS - Get Free Report) has been given an average recommendation of "Moderate Buy" by the thirteen research firms that are presently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $38.85.

A number of brokerages have commented on ALKS. Robert W. Baird lifted their target price on shares of Alkermes from $38.00 to $41.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. The Goldman Sachs Group boosted their price objective on Alkermes from $30.00 to $32.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. HC Wainwright reissued a "neutral" rating on shares of Alkermes in a report on Friday, May 2nd. Needham & Company LLC began coverage on Alkermes in a report on Wednesday, May 28th. They set a "buy" rating and a $45.00 price target for the company. Finally, Cantor Fitzgerald upgraded Alkermes to a "strong-buy" rating in a report on Tuesday, May 13th.

Institutional Investors Weigh In On Alkermes

Institutional investors and hedge funds have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Alkermes by 0.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 100,032 shares of the company's stock worth $2,877,000 after purchasing an additional 311 shares during the period. CIBC Asset Management Inc boosted its holdings in Alkermes by 4.4% during the fourth quarter. CIBC Asset Management Inc now owns 9,155 shares of the company's stock worth $263,000 after buying an additional 384 shares in the last quarter. Quantbot Technologies LP grew its position in Alkermes by 54.5% during the first quarter. Quantbot Technologies LP now owns 1,091 shares of the company's stock worth $36,000 after buying an additional 385 shares during the period. Hohimer Wealth Management LLC grew its position in Alkermes by 3.8% during the first quarter. Hohimer Wealth Management LLC now owns 12,362 shares of the company's stock worth $408,000 after buying an additional 450 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in Alkermes by 3.8% in the first quarter. PNC Financial Services Group Inc. now owns 12,352 shares of the company's stock valued at $408,000 after buying an additional 451 shares in the last quarter. 95.21% of the stock is owned by hedge funds and other institutional investors.

Alkermes Price Performance

Alkermes stock traded down $0.54 during midday trading on Wednesday, reaching $31.00. The company had a trading volume of 1,034,419 shares, compared to its average volume of 1,745,740. The firm's fifty day simple moving average is $29.68 and its 200-day simple moving average is $30.89. The company has a market capitalization of $5.11 billion, a P/E ratio of 14.29, a P/E/G ratio of 2.20 and a beta of 0.51. Alkermes has a 12-month low of $22.90 and a 12-month high of $36.45.

Alkermes (NASDAQ:ALKS - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.32 by ($0.19). Alkermes had a net margin of 23.57% and a return on equity of 30.80%. The business had revenue of $306.51 million during the quarter, compared to analyst estimates of $307.53 million. During the same quarter in the previous year, the company posted $0.43 EPS. The firm's revenue was down 12.6% on a year-over-year basis. On average, analysts expect that Alkermes will post 1.31 EPS for the current fiscal year.

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.