Short Interest in Alkermes plc (NASDAQ:ALKS) Drops By 7.9%

Alkermes plc (NASDAQ:ALKS - Get Free Report) was the recipient of a significant decrease in short interest in October. As of October 15th, there was short interest totalling 15,820,000 shares, a decrease of 7.9% from the September 30th total of 17,180,000 shares. Based on an average daily volume of 1,720,000 shares, the short-interest ratio is currently 9.2 days.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ALKS. JPMorgan Chase & Co. lowered their price objective on shares of Alkermes from $32.00 to $26.00 and set a "neutral" rating for the company in a research report on Friday, October 25th. Cantor Fitzgerald lowered their price target on Alkermes from $48.00 to $43.00 and set an "overweight" rating for the company in a report on Friday, October 25th. Piper Sandler reiterated an "overweight" rating and set a $37.00 price objective (down previously from $38.00) on shares of Alkermes in a report on Friday, October 25th. The Goldman Sachs Group lowered their target price on Alkermes from $32.00 to $30.00 and set a "buy" rating for the company in a research note on Friday, October 25th. Finally, HC Wainwright restated a "neutral" rating and set a $37.00 target price on shares of Alkermes in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $34.90.

Institutional Trading of Alkermes

Several institutional investors and hedge funds have recently bought and sold shares of ALKS. V Square Quantitative Management LLC acquired a new position in shares of Alkermes during the 3rd quarter worth about $29,000. Signaturefd LLC lifted its position in shares of Alkermes by 51.2% in the second quarter. Signaturefd LLC now owns 1,417 shares of the company's stock valued at $34,000 after buying an additional 480 shares during the last quarter. Hexagon Capital Partners LLC boosted its stake in shares of Alkermes by 3,841.0% during the 2nd quarter. Hexagon Capital Partners LLC now owns 1,537 shares of the company's stock worth $37,000 after acquiring an additional 1,498 shares during the period. GAMMA Investing LLC increased its holdings in shares of Alkermes by 44.4% during the 2nd quarter. GAMMA Investing LLC now owns 2,287 shares of the company's stock worth $55,000 after acquiring an additional 703 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Alkermes in the 2nd quarter valued at $116,000. Institutional investors own 95.21% of the company's stock.

Alkermes Stock Down 0.5 %

NASDAQ:ALKS traded down $0.13 on Wednesday, hitting $26.31. 1,149,298 shares of the company's stock were exchanged, compared to its average volume of 1,842,750. The firm has a 50-day moving average price of $27.76 and a 200-day moving average price of $25.89. Alkermes has a 52 week low of $22.06 and a 52 week high of $32.88. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.99 and a quick ratio of 2.61. The company has a market cap of $4.45 billion, a P/E ratio of 10.40, a price-to-earnings-growth ratio of 0.56 and a beta of 0.46.

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.