Alkermes plc (NASDAQ:ALKS - Get Free Report) was the target of a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 14,010,000 shares, an increase of 21.1% from the February 13th total of 11,570,000 shares. Approximately 8.8% of the company's stock are sold short. Based on an average daily volume of 1,690,000 shares, the days-to-cover ratio is presently 8.3 days.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on the company. Royal Bank of Canada started coverage on Alkermes in a research report on Thursday, March 13th. They set a "sector perform" rating and a $40.00 target price on the stock. The Goldman Sachs Group boosted their price objective on shares of Alkermes from $30.00 to $32.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. Deutsche Bank Aktiengesellschaft started coverage on shares of Alkermes in a research report on Tuesday, February 11th. They issued a "buy" rating and a $40.00 target price on the stock. UBS Group raised shares of Alkermes from a "sell" rating to a "neutral" rating and boosted their price target for the company from $21.00 to $38.00 in a research report on Tuesday, March 4th. Finally, StockNews.com raised Alkermes from a "buy" rating to a "strong-buy" rating in a report on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Alkermes presently has a consensus rating of "Moderate Buy" and an average target price of $38.46.
Check Out Our Latest Analysis on Alkermes
Insider Activity
In other news, EVP Craig C. Hopkinson sold 144,419 shares of the firm's stock in a transaction on 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 sale, the executive vice president now directly owns 57,875 shares in the company, valued at approximately $2,056,298.75. This trade represents a 71.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.89% of the company's stock.
Hedge Funds Weigh In On Alkermes
A number of institutional investors have recently added to or reduced their stakes in the company. Centiva Capital LP acquired a new stake in Alkermes in the third quarter valued at $367,000. Natixis Advisors LLC raised its stake in shares of Alkermes by 190.3% in the 3rd quarter. Natixis Advisors LLC now owns 36,490 shares of the company's stock valued at $1,021,000 after purchasing an additional 23,921 shares in the last quarter. Sanctuary Advisors LLC lifted its position in shares of Alkermes by 254.5% during the third quarter. Sanctuary Advisors LLC now owns 32,791 shares of the company's stock worth $944,000 after purchasing an additional 23,541 shares during the last quarter. BNP Paribas Financial Markets grew its stake in Alkermes by 74.7% in the third quarter. BNP Paribas Financial Markets now owns 149,493 shares of the company's stock worth $4,184,000 after purchasing an additional 63,939 shares in the last quarter. Finally, Barclays PLC increased its holdings in Alkermes by 108.8% in the third quarter. Barclays PLC now owns 423,931 shares of the company's stock valued at $11,867,000 after buying an additional 220,893 shares during the last quarter. Institutional investors and hedge funds own 95.21% of the company's stock.
Alkermes Price Performance
NASDAQ:ALKS traded up $0.68 during trading hours on Friday, reaching $34.60. 1,254,666 shares of the company were exchanged, compared to its average volume of 1,699,883. Alkermes has a 52-week low of $22.90 and a 52-week high of $36.45. The stock has a 50 day simple moving average of $32.84 and a 200 day simple moving average of $30.00. The firm has a market cap of $5.63 billion, a price-to-earnings ratio of 15.95, a PEG ratio of 2.20 and a beta of 0.62.
Alkermes (NASDAQ:ALKS - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.81 by $0.11. Alkermes had a return on equity of 30.80% and a net margin of 23.57%. On average, analysts predict that Alkermes will post 1.31 EPS for the current fiscal year.
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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