Alkermes (NASDAQ:ALKS) Earns Buy Rating from Analysts at The Goldman Sachs Group

The Goldman Sachs Group initiated coverage on shares of Alkermes (NASDAQ:ALKSGet Rating) in a research note published on Wednesday morning, Marketbeat reports. The firm issued a buy rating and a $35.00 price objective on the stock.

A number of other research firms have also recently commented on ALKS. Cantor Fitzgerald raised shares of Alkermes from a hold rating to an overweight rating and set a $32.00 target price on the stock in a research report on Thursday, January 27th. Zacks Investment Research upgraded shares of Alkermes from a hold rating to a strong-buy rating and set a $28.00 price objective on the stock in a report on Monday, January 10th. TheStreet upgraded shares of Alkermes from a d+ rating to a c rating in a report on Tuesday, March 1st. Citigroup boosted their price objective on shares of Alkermes from $22.00 to $26.00 and gave the stock a neutral rating in a report on Tuesday, March 22nd. Finally, Mizuho boosted their price objective on shares of Alkermes from $33.00 to $35.00 in a report on Thursday, February 17th. One analyst has rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alkermes presently has a consensus rating of Buy and a consensus target price of $30.30.

NASDAQ ALKS opened at $28.20 on Wednesday. Alkermes has a one year low of $20.76 and a one year high of $33.00. The company’s 50 day moving average price is $26.41 and its 200 day moving average price is $25.78. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.93 and a current ratio of 2.25. The firm has a market capitalization of $4.61 billion, a price-to-earnings ratio of -94.00 and a beta of 0.90.

Alkermes (NASDAQ:ALKSGet Rating) last posted its quarterly earnings results on Wednesday, February 16th. The company reported $0.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.16. Alkermes had a negative net margin of 4.10% and a positive return on equity of 3.95%. The firm had revenue of $324.50 million for the quarter, compared to analyst estimates of $306.55 million. During the same quarter last year, the firm posted ($0.05) earnings per share. Alkermes’s revenue for the quarter was up 15.9% compared to the same quarter last year. Sell-side analysts forecast that Alkermes will post -0.6 EPS for the current fiscal year.

In related news, COO Blair Curtis Jackson sold 49,999 shares of the business’s stock in a transaction dated Wednesday, April 20th. The shares were sold at an average price of $29.61, for a total transaction of $1,480,470.39. Following the completion of the sale, the chief operating officer now owns 87,915 shares of the company’s stock, valued at approximately $2,603,163.15. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Craig C. Hopkinson sold 2,306 shares of the business’s stock in a transaction dated Friday, February 18th. The shares were sold at an average price of $25.17, for a total transaction of $58,042.02. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 94,288 shares of company stock valued at $2,698,411. Insiders own 4.63% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of ALKS. Credit Agricole S A bought a new position in Alkermes in the 4th quarter worth about $35,000. UMB Bank N A MO bought a new position in Alkermes in the 4th quarter worth about $47,000. SouthState Corp bought a new position in Alkermes in the 3rd quarter worth about $77,000. Altshuler Shaham Ltd grew its position in Alkermes by 130.9% in the 3rd quarter. Altshuler Shaham Ltd now owns 4,069 shares of the company’s stock worth $126,000 after purchasing an additional 2,307 shares during the last quarter. Finally, Advisor Group Holdings Inc. grew its position in Alkermes by 30.7% in the 3rd quarter. Advisor Group Holdings Inc. now owns 5,516 shares of the company’s stock worth $171,000 after purchasing an additional 1,295 shares during the last quarter. Hedge funds and other institutional investors own 94.37% 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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