Alkermes (NASDAQ:ALKS) Given “Overweight” Rating at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Alkermes (NASDAQ:ALKS) in a report published on Monday, Benzinga reports. They currently have a $48.00 price target on the stock.

A number of other research analysts have also weighed in on ALKS. Robert W. Baird raised their price objective on Alkermes from $37.00 to $38.00 and gave the company an outperform rating in a research report on Thursday, July 25th. TD Cowen initiated coverage on shares of Alkermes in a research note on Monday, June 17th. They issued a buy rating and a $34.00 price target on the stock. StockNews.com upgraded shares of Alkermes from a hold rating to a buy rating in a research note on Sunday, July 28th. JPMorgan Chase & Co. upped their target price on shares of Alkermes from $31.00 to $32.00 and gave the stock a neutral rating in a research note on Thursday, July 25th. Finally, HC Wainwright increased their price target on shares of Alkermes from $35.00 to $37.00 and gave the company a neutral rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $36.70.

Alkermes Stock Performance

Shares of Alkermes stock opened at $28.35 on Monday. Alkermes has a 12 month low of $22.01 and a 12 month high of $32.88. The firm has a market capitalization of $4.80 billion, a P/E ratio of 11.21, a P/E/G ratio of 0.56 and a beta of 0.46. The company has a current ratio of 2.99, a quick ratio of 2.61 and a debt-to-equity ratio of 0.22. The business has a fifty day simple moving average of $27.00 and a two-hundred day simple moving average of $25.86.

Alkermes (NASDAQ:ALKS) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $0.70 EPS for the quarter, hitting the consensus estimate of $0.70. The business had revenue of $399.13 million for the quarter, compared to analyst estimates of $393.30 million. Alkermes had a net margin of 19.15% and a return on equity of 23.20%. Alkermes’s quarterly revenue was down 35.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.38 earnings per share. On average, equities analysts forecast that Alkermes will post 2.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alkermes

A number of large investors have recently added to or reduced their stakes in ALKS. Dimensional Fund Advisors LP lifted its holdings in shares of Alkermes by 3.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,403,195 shares of the company’s stock valued at $66,666,000 after buying an additional 90,219 shares during the period. Principal Financial Group Inc. lifted its holdings in Alkermes by 1,150.2% in the fourth quarter. Principal Financial Group Inc. now owns 939,542 shares of the company’s stock valued at $26,063,000 after acquiring an additional 864,389 shares during the period. Vanguard Personalized Indexing Management LLC lifted its holdings in Alkermes by 25.7% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 9,845 shares of the company’s stock valued at $273,000 after acquiring an additional 2,015 shares during the period. Janney Montgomery Scott LLC purchased a new position in Alkermes in the fourth quarter worth about $927,000. Finally, Norges Bank bought a new stake in shares of Alkermes during the 4th quarter valued at about $55,548,000. Institutional investors 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.