Alkermes (NASDAQ:ALKS) Price Target Raised to $36.00 at Mizuho

Alkermes (NASDAQ:ALKSGet Rating) had its price objective lifted by Mizuho from $34.00 to $36.00 in a report released on Tuesday morning, The Fly reports. They currently have a buy rating on the stock.

A number of other research analysts have also issued reports on ALKS. Bank of America upgraded shares of Alkermes from an underperform rating to a neutral rating and reduced their target price for the company from $27.00 to $25.00 in a report on Friday, October 14th. Piper Sandler raised shares of Alkermes from a neutral rating to an overweight rating and increased their target price for the stock from $26.00 to $30.00 in a research report on Thursday, November 3rd. Stifel Nicolaus increased their price objective on shares of Alkermes to $28.00 in a research report on Wednesday, July 27th. Finally, StockNews.com cut Alkermes from a strong-buy rating to a buy rating in a research note on Wednesday, November 2nd. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $29.89.

Alkermes Stock Performance

Shares of Alkermes stock opened at $24.27 on Tuesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.24 and a quick ratio of 1.89. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of -31.12 and a beta of 0.60. The firm’s fifty day simple moving average is $22.96 and its 200-day simple moving average is $25.96. Alkermes has a 12 month low of $21.24 and a 12 month high of $32.79.

Alkermes (NASDAQ:ALKSGet Rating) last posted its quarterly earnings results on Wednesday, November 2nd. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). Alkermes had a negative return on equity of 1.10% and a negative net margin of 11.41%. The company had revenue of $252.36 million for the quarter, compared to analyst estimates of $271.45 million. During the same period last year, the company earned ($0.02) earnings per share. The business’s revenue for the quarter was down 14.2% compared to the same quarter last year. As a group, equities analysts forecast that Alkermes will post -0.32 earnings per share for the current year.

Hedge Funds Weigh In On Alkermes

A number of institutional investors and hedge funds have recently bought and sold shares of ALKS. Steward Partners Investment Advisory LLC lifted its stake in shares of Alkermes by 100.0% during the first quarter. Steward Partners Investment Advisory LLC now owns 1,000 shares of the company’s stock valued at $26,000 after acquiring an additional 500 shares during the period. Neo Ivy Capital Management bought a new stake in Alkermes in the second quarter valued at about $27,000. Trust Co. of Vermont bought a new stake in shares of Alkermes in the second quarter worth about $30,000. China Universal Asset Management Co. Ltd. bought a new stake in shares of Alkermes in the third quarter worth about $34,000. Finally, EverSource Wealth Advisors LLC bought a new stake in shares of Alkermes in the third quarter worth about $34,000. Institutional investors and hedge funds own 94.77% of the company’s stock.

About Alkermes

(Get Rating)

Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in various therapeutic areas in the United States, Ireland, and internationally. Its marketed products include ARISTADA, an intramuscular injectable suspension for the treatment of schizophrenia; VIVITROL for the treatment of alcohol and prevention of opioid dependence; RISPERDAL CONSTA for the treatment of schizophrenia and bipolar I disorder; INVEGA SUSTENNA for the treatment of schizophrenia and schizoaffective disorder; XEPLION, INVEGA TRINZA, and TREVICTA to treat schizophrenia and schizoaffective; and VUMERITY for the treatment of relapsing forms of multiple sclerosis in adults, including clinically isolated syndrome, relapsing-remitting and active secondary progressive diseases.

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