Alkermes (NASDAQ:ALKS - Get Free Report) had its target price hoisted by equities researchers at Royal Bank Of Canada from $40.00 to $42.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a "sector perform" rating on the stock. Royal Bank Of Canada's price target indicates a potential upside of 58.19% from the stock's current price.
Several other research firms have also recently issued reports on ALKS. Cantor Fitzgerald upgraded shares of Alkermes to a "strong-buy" rating in a research report on Tuesday, May 13th. HC Wainwright restated a "neutral" rating and set a $46.00 price objective on shares of Alkermes in a research report on Monday, July 21st. UBS Group upgraded shares of 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. Needham & Company LLC restated a "buy" rating and set a $45.00 price objective on shares of Alkermes in a research report on Tuesday, July 29th. Finally, The Goldman Sachs Group started coverage on shares of Alkermes in a research note on Tuesday, July 15th. They set a "buy" rating and a $43.00 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 given a strong buy rating to the company's stock. According to MarketBeat.com, Alkermes has an average rating of "Moderate Buy" and a consensus price target of $41.08.
Get Our Latest Research Report on ALKS
Alkermes Stock Up 0.2%
Shares of NASDAQ ALKS opened at $26.55 on Wednesday. The firm has a 50-day simple moving average of $29.21 and a 200-day simple moving average of $30.78. The stock has a market capitalization of $4.38 billion, a price-to-earnings ratio of 12.76, a price-to-earnings-growth ratio of 1.52 and a beta of 0.47. Alkermes has a 52 week low of $25.56 and a 52 week high of $36.45.
Alkermes (NASDAQ:ALKS - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $0.52 EPS for the quarter, beating analysts' consensus estimates of $0.42 by $0.10. Alkermes had a net margin of 23.15% and a return on equity of 24.86%. The business had revenue of $390.66 million during the quarter, compared to analysts' expectations of $343.20 million. During the same period in the prior year, the business earned $1.16 earnings per share. The company's quarterly revenue was down 2.1% compared to the same quarter last year. As a group, equities research analysts expect that Alkermes will post 1.31 EPS for the current year.
Insider Activity at Alkermes
In other news, SVP Christian Todd Nichols sold 3,334 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The shares were 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 of the company's stock, valued at approximately $2,680,206.72. This trade represents a 3.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 4.40% of the company's stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in ALKS. Jennison Associates LLC acquired a new stake in Alkermes in the second quarter valued at approximately $909,000. Peregrine Capital Management LLC acquired a new stake in Alkermes in the second quarter valued at approximately $7,571,000. Teacher Retirement System of Texas raised its holdings in Alkermes by 2.0% in the second quarter. Teacher Retirement System of Texas now owns 42,215 shares of the company's stock valued at $1,208,000 after acquiring an additional 816 shares in the last quarter. Y Intercept Hong Kong Ltd raised its holdings in Alkermes by 446.3% in the second quarter. Y Intercept Hong Kong Ltd now owns 138,433 shares of the company's stock valued at $3,961,000 after acquiring an additional 113,094 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in Alkermes by 1.3% in the second quarter. Envestnet Asset Management Inc. now owns 43,658 shares of the company's stock valued at $1,249,000 after acquiring an additional 551 shares in the last quarter. 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.
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