JPMorgan Chase & Co. Raises Alkermes (NASDAQ:ALKS) Price Target to $32.00

Alkermes (NASDAQ:ALKS) had its price objective hoisted by JPMorgan Chase & Co. from $31.00 to $32.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have a neutral rating on the stock.

Other analysts also recently issued reports about the company. Cantor Fitzgerald upped their price objective on Alkermes from $43.00 to $48.00 and gave the company an overweight rating in a research note on Thursday, May 23rd. Piper Sandler reaffirmed an overweight rating and set a $39.00 price objective on shares of Alkermes in a research note on Monday, April 1st. StockNews.com cut Alkermes from a buy rating to a hold rating in a research report on Saturday, July 20th. HC Wainwright boosted their target price on Alkermes from $35.00 to $37.00 and gave the stock a neutral rating in a research report on Thursday. Finally, Jefferies Financial Group boosted their target price on Alkermes from $42.00 to $50.00 and gave the stock a buy rating in a research report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Alkermes currently has a consensus rating of Moderate Buy and a consensus target price of $36.70.

Alkermes Stock Down 0.6 %

ALKS opened at $27.88 on Thursday. The business has a 50 day moving average price of $24.43 and a two-hundred day moving average price of $26.10. The company has a quick ratio of 2.77, a current ratio of 2.99 and a debt-to-equity ratio of 0.22. The company has a market cap of $4.59 billion, a PE ratio of 11.02, a P/E/G ratio of 0.61 and a beta of 0.47. Alkermes has a 52 week low of $22.01 and a 52 week high of $32.88.

Alkermes (NASDAQ:ALKS) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $0.70 EPS for the quarter, meeting the consensus estimate of $0.70. The firm had revenue of $399.13 million during the quarter, compared to the consensus estimate of $393.30 million. Alkermes had a return on equity of 23.20% and a net margin of 19.15%. The firm’s revenue was down 35.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.38 EPS. As a group, research analysts anticipate that Alkermes will post 2.51 EPS for the current year.

Institutional Investors Weigh In On Alkermes

A number of institutional investors and hedge funds have recently modified their holdings of ALKS. Assenagon Asset Management S.A. acquired a new stake in shares of Alkermes in the 4th quarter worth approximately $2,030,000. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Alkermes in the 4th quarter worth approximately $30,000. State of Alaska Department of Revenue acquired a new stake in shares of Alkermes in the 4th quarter worth approximately $2,847,000. China Universal Asset Management Co. Ltd. grew its holdings in shares of Alkermes by 352.0% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 19,306 shares of the company’s stock worth $536,000 after acquiring an additional 15,035 shares during the period. Finally, Arizona State Retirement System grew its holdings in shares of Alkermes by 3.9% in the 4th quarter. Arizona State Retirement System now owns 44,233 shares of the company’s stock worth $1,227,000 after acquiring an additional 1,663 shares during the period. Institutional investors and hedge funds own 95.21% of the company’s stock.

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.