Alkermes (NASDAQ:ALKS) PT Lowered to $30.00

Alkermes (NASDAQ:ALKS - Free Report) had its target price cut by The Goldman Sachs Group from $32.00 to $30.00 in a report issued on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

ALKS has been the topic of several other research reports. StockNews.com raised Alkermes from a "hold" rating to a "buy" rating in a research report on Sunday, July 28th. Robert W. Baird upped their target price on shares of Alkermes from $37.00 to $38.00 and gave the stock an "outperform" rating in a research note on Thursday, July 25th. Cantor Fitzgerald dropped their price target on shares of Alkermes from $48.00 to $43.00 and set an "overweight" rating on the stock in a research report on Friday. HC Wainwright reaffirmed a "neutral" rating and issued a $37.00 price objective on shares of Alkermes in a research report on Friday. Finally, Piper Sandler reissued an "overweight" rating and set a $37.00 target price (down previously from $38.00) on shares of Alkermes in a research report on Friday. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, Alkermes currently has an average rating of "Moderate Buy" and a consensus price target of $34.91.

Alkermes Stock Down 2.8 %

NASDAQ:ALKS traded down $0.76 during trading hours on Friday, reaching $26.09. The company had a trading volume of 3,206,881 shares, compared to its average volume of 1,847,062. The company has a quick ratio of 2.61, a current ratio of 2.99 and a debt-to-equity ratio of 0.22. The business's 50-day simple moving average is $27.83 and its two-hundred day simple moving average is $25.87. The firm has a market cap of $4.41 billion, a price-to-earnings ratio of 10.31, a P/E/G ratio of 0.56 and a beta of 0.46. Alkermes has a twelve month low of $22.06 and a twelve month high of $32.88.

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

Institutional Investors Weigh In On Alkermes

Several large investors have recently added to or reduced their stakes in ALKS. V Square Quantitative Management LLC bought a new position in Alkermes during the third quarter worth about $29,000. Signaturefd LLC grew its stake in Alkermes by 51.2% in the 2nd quarter. Signaturefd LLC now owns 1,417 shares of the company's stock valued at $34,000 after buying an additional 480 shares in the last quarter. Hexagon Capital Partners LLC raised its holdings in Alkermes by 3,841.0% during the 2nd quarter. Hexagon Capital Partners LLC now owns 1,537 shares of the company's stock valued at $37,000 after acquiring an additional 1,498 shares during the period. GAMMA Investing LLC lifted its position in shares of Alkermes by 44.4% during the second quarter. GAMMA Investing LLC now owns 2,287 shares of the company's stock worth $55,000 after acquiring an additional 703 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Alkermes in the second quarter worth $116,000. Hedge funds and other 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.