HC Wainwright Reaffirms "Neutral" Rating for Alkermes (NASDAQ:ALKS)

Alkermes (NASDAQ:ALKS - Get Free Report)'s stock had its "neutral" rating reaffirmed by equities researchers at HC Wainwright in a note issued to investors on Monday,Benzinga reports. They currently have a $46.00 price objective on the stock. HC Wainwright's price objective would indicate a potential upside of 73.06% from the company's previous close.

A number of other research firms also recently issued reports on ALKS. Cantor Fitzgerald upgraded Alkermes to a "strong-buy" rating in a research note on Tuesday, May 13th. The Goldman Sachs Group initiated coverage on shares of Alkermes in a research note on Tuesday, July 15th. They set a "buy" rating and a $43.00 price target on the stock. Deutsche Bank Aktiengesellschaft raised their target price on Alkermes from $40.00 to $52.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Wall Street Zen cut shares of Alkermes from a "strong-buy" rating to a "buy" rating in a research report on Monday, May 5th. Finally, UBS Group upgraded Alkermes from a "neutral" rating to a "buy" rating and increased their target price for the company from $33.00 to $42.00 in a research note on Tuesday, June 17th. 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $40.92.

Alkermes Trading Down 9.0%

Shares of NASDAQ:ALKS traded down $2.64 on Monday, hitting $26.58. The company had a trading volume of 2,812,629 shares, compared to its average volume of 1,732,573. Alkermes has a 1-year low of $24.48 and a 1-year high of $36.45. The stock has a market cap of $4.38 billion, a price-to-earnings ratio of 12.71, a P/E/G ratio of 1.82 and a beta of 0.44. The stock has a 50 day moving average price of $30.03 and a 200 day moving average price of $30.92.

Alkermes (NASDAQ:ALKS - Get Free Report) last released 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 firm had revenue of $306.51 million for the quarter, compared to analysts' expectations of $307.53 million. Alkermes had a net margin of 23.30% and a return on equity of 27.52%. The company's revenue for the quarter was down 12.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.43 EPS. Sell-side analysts anticipate that Alkermes will post 1.31 earnings per share for the current fiscal year.

Insider Activity

In other Alkermes news, SVP Christian Todd Nichols sold 3,334 shares of Alkermes stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $31.09, for a total value of $103,654.06. Following the transaction, the senior vice president directly 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 document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.40% of the company's stock.

Institutional Investors Weigh In On Alkermes

A number of institutional investors have recently modified their holdings of the stock. HighTower Advisors LLC raised its holdings in shares of Alkermes by 34.8% during the fourth quarter. HighTower Advisors LLC now owns 16,543 shares of the company's stock worth $476,000 after acquiring an additional 4,269 shares during the period. Natixis Advisors LLC grew its holdings in Alkermes by 36.8% in the fourth quarter. Natixis Advisors LLC now owns 49,922 shares of the company's stock worth $1,436,000 after purchasing an additional 13,432 shares during the period. Cibc World Markets Corp acquired a new position in Alkermes during the 4th quarter valued at about $433,000. Xponance Inc. raised its position in Alkermes by 5.6% in the fourth quarter. Xponance Inc. now owns 18,554 shares of the company's stock worth $534,000 after acquiring an additional 976 shares during the period. Finally, Teacher Retirement System of Texas lifted its position in shares of Alkermes by 14.9% during the fourth quarter. Teacher Retirement System of Texas now owns 46,338 shares of the company's stock worth $1,333,000 after acquiring an additional 6,018 shares in the last quarter. Institutional investors and hedge funds own 95.21% of the company's stock.

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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