Alkermes (NASDAQ:ALKS - Get Free Report) had its target price lifted by equities researchers at Robert W. Baird from $38.00 to $41.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Robert W. Baird's price objective would suggest a potential upside of 30.57% from the company's current price.
Several other brokerages have also recently issued reports on ALKS. Deutsche Bank Aktiengesellschaft raised their target price on shares of Alkermes from $40.00 to $52.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. The Goldman Sachs Group increased their price objective on shares of Alkermes from $30.00 to $32.00 and gave the company a "buy" rating in a report on Friday, February 14th. HC Wainwright reissued a "neutral" rating and set a $46.00 price target on shares of Alkermes in a research note on Thursday, February 13th. StockNews.com raised Alkermes from a "buy" rating to a "strong-buy" rating in a research note on Thursday, February 13th. Finally, Royal Bank of Canada restated an "underperform" rating on shares of Alkermes in a report on Monday, April 28th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $38.33.
Read Our Latest Analysis on ALKS
Alkermes Stock Performance
Shares of Alkermes stock traded down $0.38 during trading hours on Friday, reaching $31.40. The company's stock had a trading volume of 1,488,926 shares, compared to its average volume of 1,766,773. The stock's fifty day simple moving average is $31.33 and its two-hundred day simple moving average is $30.47. Alkermes has a one year low of $22.90 and a one year high of $36.45. The company has a market capitalization of $5.18 billion, a P/E ratio of 14.47, a P/E/G ratio of 2.20 and a beta of 0.39.
Alkermes (NASDAQ:ALKS - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.19). Alkermes had a return on equity of 30.80% and a net margin of 23.57%. The firm had revenue of $306.51 million during the quarter, compared to analysts' expectations of $307.53 million. During the same period last year, the business posted $0.43 EPS. The company's revenue was down 12.6% compared to the same quarter last year. As a group, research analysts forecast that Alkermes will post 1.31 earnings per share for the current year.
Insider Activity at Alkermes
In related news, EVP Craig C. Hopkinson sold 144,419 shares of the company's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $35.53, for a total value of $5,131,207.07. Following the completion of the sale, the executive vice president now owns 57,875 shares of the company's stock, valued at $2,056,298.75. This represents a 71.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 4.40% of the stock is currently owned by corporate insiders.
Institutional Trading of Alkermes
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Victory Capital Management Inc. lifted its holdings in Alkermes by 30.9% in the 1st quarter. Victory Capital Management Inc. now owns 120,997 shares of the company's stock worth $3,995,000 after purchasing an additional 28,596 shares during the last quarter. Hohimer Wealth Management LLC raised its position in shares of Alkermes by 3.8% in the 1st quarter. Hohimer Wealth Management LLC now owns 12,362 shares of the company's stock valued at $408,000 after acquiring an additional 450 shares during the period. Edgestream Partners L.P. raised its stake in shares of Alkermes by 103.8% in the 1st quarter. Edgestream Partners L.P. now owns 110,244 shares of the company's stock valued at $3,640,000 after purchasing an additional 56,138 shares during the period. Cerity Partners LLC increased its position in shares of Alkermes by 46.3% during the 1st quarter. Cerity Partners LLC now owns 26,240 shares of the company's stock worth $866,000 after purchasing an additional 8,310 shares during the last quarter. Finally, Penserra Capital Management LLC acquired a new stake in Alkermes during the 1st quarter valued at $759,000. 95.21% of the stock is currently owned by institutional investors.
About Alkermes
(
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.
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