Alkermes' (ALKS) Overweight Rating Reiterated at Piper Sandler

Alkermes (NASDAQ:ALKS - Get Free Report)'s stock had its "overweight" rating reissued by equities research analysts at Piper Sandler in a research report issued on Friday, Benzinga reports. They presently have a $37.00 target price on the stock, down from their previous target price of $38.00. Piper Sandler's price objective indicates a potential upside of 41.82% from the company's current price.

Other equities research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. lifted their price target on Alkermes from $31.00 to $32.00 and gave the company a "neutral" rating in a report on Thursday, July 25th. HC Wainwright reaffirmed a "neutral" rating and set a $37.00 price target on shares of Alkermes in a report on Friday. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $48.00 price target on shares of Alkermes in a report on Thursday, October 10th. Robert W. Baird lifted their price target on Alkermes from $37.00 to $38.00 and gave the company an "outperform" rating in a report on Thursday, July 25th. Finally, StockNews.com raised Alkermes from a "hold" rating to a "buy" rating in a report on Sunday, July 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $34.91.

Alkermes Stock Performance

NASDAQ ALKS traded down $0.76 during trading hours on Friday, reaching $26.09. The company's stock had a trading volume of 3,134,755 shares, compared to its average volume of 1,846,714. 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 50-day simple moving average of $27.85 and a 200 day simple moving average of $25.87. Alkermes has a 52 week low of $22.06 and a 52 week high of $32.88. The stock has a market cap of $4.41 billion, a PE ratio of 10.44, a PEG ratio of 0.56 and a beta of 0.46.

Alkermes (NASDAQ:ALKS - Get Free Report) last issued its earnings results on Wednesday, July 24th. The company reported $0.70 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.70. The firm had revenue of $399.13 million for the quarter, compared to analysts' expectations of $393.30 million. Alkermes had a net margin of 19.15% and a return on equity of 23.20%. Alkermes's revenue was down 35.4% on a year-over-year basis. During the same quarter last year, the company posted $0.38 earnings per share. Equities research analysts predict that Alkermes will post 2.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ALKS. V Square Quantitative Management LLC acquired a new position in Alkermes in the third quarter worth approximately $29,000. Signaturefd LLC grew its position in Alkermes by 51.2% in the second quarter. Signaturefd LLC now owns 1,417 shares of the company's stock worth $34,000 after buying an additional 480 shares during the last quarter. Hexagon Capital Partners LLC grew its position in Alkermes by 3,841.0% in the second quarter. Hexagon Capital Partners LLC now owns 1,537 shares of the company's stock worth $37,000 after buying an additional 1,498 shares during the last quarter. GAMMA Investing LLC grew its position in Alkermes by 44.4% in the second quarter. GAMMA Investing LLC now owns 2,287 shares of the company's stock worth $55,000 after buying an additional 703 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Alkermes in the second quarter worth approximately $116,000. Institutional investors and hedge funds own 95.21% of the company's stock.

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.