Alkermes (NASDAQ:ALKS) Upgraded to Buy at Stifel Nicolaus

Stifel Nicolaus upgraded shares of Alkermes (NASDAQ:ALKS - Free Report) from a hold rating to a buy rating in a research report report published on Tuesday morning, MarketBeat reports. Stifel Nicolaus currently has $36.00 price objective on the stock, up from their prior price objective of $25.00.

A number of other research firms have also weighed in on ALKS. HC Wainwright reiterated a "neutral" rating and issued a $37.00 price objective on shares of Alkermes in a research note on Friday, October 25th. Robert W. Baird raised their price objective 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 decreased their target price on shares of Alkermes from $48.00 to $43.00 and set an "overweight" rating for the company in a research note on Friday, October 25th. Piper Sandler restated an "overweight" rating and set a $37.00 target price (down from $38.00) on shares of Alkermes in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. cut their price objective on Alkermes from $32.00 to $26.00 and set a "neutral" rating for the company in a research note on Friday, October 25th. 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, the company presently has an average rating of "Moderate Buy" and a consensus price target of $35.00.

Alkermes Stock Up 6.7 %

Shares of ALKS stock traded up $1.78 on Tuesday, hitting $28.37. The stock had a trading volume of 2,472,281 shares, compared to its average volume of 1,835,622. Alkermes has a one year low of $22.06 and a one year high of $32.88. The business has a 50 day moving average price of $27.61 and a 200 day moving average price of $25.99. The company has a market cap of $4.59 billion, a PE ratio of 14.55, a P/E/G ratio of 0.88 and a beta of 0.47. The company has a quick ratio of 3.03, a current ratio of 3.45 and a debt-to-equity ratio of 0.22.

Institutional Trading of Alkermes

Institutional investors have recently added to or reduced their stakes in the stock. Foundry Partners LLC acquired a new stake in shares of Alkermes in the first quarter valued at $3,857,000. Wedge Capital Management L L P NC purchased a new position in shares of Alkermes in the 2nd quarter valued at about $2,662,000. Lazard Asset Management LLC grew its position in shares of Alkermes by 655.0% during the first quarter. Lazard Asset Management LLC now owns 77,102 shares of the company's stock worth $2,087,000 after buying an additional 66,890 shares in the last quarter. LSV Asset Management increased its holdings in Alkermes by 81.5% in the first quarter. LSV Asset Management now owns 212,400 shares of the company's stock valued at $5,750,000 after buying an additional 95,400 shares during the last quarter. Finally, Illinois Municipal Retirement Fund purchased a new stake in Alkermes during the 1st quarter worth about $2,637,000. 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.