Alkermes (NASDAQ:ALKS) PT Raised to $25.00

Alkermes (NASDAQ:ALKSGet Rating) had its target price hoisted by stock analysts at SVB Leerink from $24.00 to $25.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “market perform” rating on the stock. SVB Leerink’s target price would suggest a potential downside of 11.35% from the stock’s current price.

Several other research firms have also weighed in on ALKS. Citigroup increased their price target on shares of Alkermes from $22.00 to $26.00 and gave the company a “neutral” rating in a research report on Tuesday, March 22nd. Mizuho upped their price objective on shares of Alkermes from $33.00 to $35.00 in a report on Thursday, February 17th. Zacks Investment Research raised 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. StockNews.com raised shares of Alkermes from a “buy” rating to a “strong-buy” rating in a report on Wednesday, April 13th. Finally, Cantor Fitzgerald raised shares of Alkermes from a “hold” rating to an “overweight” rating and set a $32.00 price target on the stock in a report on Thursday, January 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $30.30.

NASDAQ ALKS opened at $28.20 on Thursday. Alkermes has a 1 year low of $20.76 and a 1 year high of $33.00. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.25 and a quick ratio of 1.93. The firm has a market cap of $4.61 billion, a price-to-earnings ratio of -94.00 and a beta of 0.90. The company has a fifty day moving average price of $26.41 and a 200-day moving average price of $25.78.

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

In related news, EVP Craig C. Hopkinson sold 2,306 shares of the company’s stock in a transaction that occurred on Friday, February 18th. The shares were sold at an average price of $25.17, for a total value of $58,042.02. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Craig C. Hopkinson sold 11,983 shares of the company’s stock in a transaction that occurred on Wednesday, February 23rd. The stock was sold at an average price of $24.76, for a total transaction of $296,699.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 94,288 shares of company stock worth $2,698,411. 4.63% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of ALKS. Hardman Johnston Global Advisors LLC grew its position in Alkermes by 599.3% during the third quarter. Hardman Johnston Global Advisors LLC now owns 4,232,279 shares of the company’s stock valued at $130,523,000 after acquiring an additional 3,627,099 shares during the last quarter. Norges Bank bought a new position in Alkermes during the fourth quarter valued at approximately $60,460,000. Sarissa Capital Management LP grew its position in Alkermes by 11.3% during the third quarter. Sarissa Capital Management LP now owns 13,213,000 shares of the company’s stock valued at $407,489,000 after acquiring an additional 1,343,000 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Alkermes by 8.9% in the fourth quarter. BlackRock Inc. now owns 14,252,287 shares of the company’s stock worth $331,506,000 after purchasing an additional 1,163,567 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Alkermes by 15.7% in the fourth quarter. State Street Corp now owns 5,694,440 shares of the company’s stock worth $132,453,000 after purchasing an additional 772,964 shares during the last quarter. Institutional investors and hedge funds 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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