HC Wainwright Boosts Alkermes (NASDAQ:ALKS) Price Target to $37.00

Alkermes (NASDAQ:ALKS) had its price objective increased by HC Wainwright from $35.00 to $37.00 in a research report released on Thursday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other research analysts also recently issued reports about the stock. Jefferies Financial Group increased their price objective on shares of Alkermes from $42.00 to $50.00 and gave the company a buy rating in a research note on Tuesday, April 9th. Piper Sandler restated an overweight rating and issued a $39.00 price target on shares of Alkermes in a research report on Monday, April 1st. TD Cowen started coverage on shares of Alkermes in a research report on Monday, June 17th. They issued a buy rating and a $34.00 price target on the stock. Cantor Fitzgerald raised their price target on shares of Alkermes from $43.00 to $48.00 and gave the stock an overweight rating in a research report on Thursday, May 23rd. Finally, Robert W. Baird increased their price objective on shares of Alkermes from $37.00 to $38.00 and gave the stock an outperform rating in a report on Thursday. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Alkermes presently has an average rating of Moderate Buy and an average target price of $36.70.

Alkermes Stock Performance

Shares of ALKS stock opened at $27.88 on Thursday. Alkermes has a one year low of $22.01 and a one year high of $32.88. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.77 and a current ratio of 2.99. The company has a 50 day moving average price of $24.43 and a 200 day moving average price of $26.12. The firm has a market capitalization of $4.59 billion, a price-to-earnings ratio of 11.02, a price-to-earnings-growth ratio of 0.62 and a beta of 0.47.

Alkermes (NASDAQ:ALKS) last released its quarterly earnings data on Wednesday, July 24th. The company reported $0.70 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.70. The company had revenue of $399.13 million during 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%. The business’s quarterly revenue was down 35.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.38 earnings per share. Sell-side analysts anticipate that Alkermes will post 2.25 EPS for the current year.

Hedge Funds Weigh In On Alkermes

Hedge funds have recently made changes to their positions in the business. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Alkermes in the 4th quarter worth approximately $30,000. GAMMA Investing LLC acquired a new position in shares of Alkermes in the 4th quarter worth approximately $35,000. Hexagon Capital Partners LLC grew its stake in shares of Alkermes by 3,841.0% in the 2nd quarter. Hexagon Capital Partners LLC now owns 1,537 shares of the company’s stock worth $37,000 after purchasing an additional 1,498 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Alkermes by 166.4% in the 4th quarter. Daiwa Securities Group Inc. now owns 1,761 shares of the company’s stock worth $49,000 after purchasing an additional 1,100 shares during the last quarter. Finally, CWM LLC grew its stake in shares of Alkermes by 92.8% in the 4th quarter. CWM LLC now owns 1,999 shares of the company’s stock worth $55,000 after purchasing an additional 962 shares during 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.