HC Wainwright Reiterates “Hold” Rating for Alkermes (NASDAQ:ALKS)

HC Wainwright reissued their hold rating on shares of Alkermes (NASDAQ:ALKS) in a report issued on Friday, AnalystRatings.com reports. HC Wainwright currently has a $28.00 target price on the stock.

Several other equities research analysts have also weighed in on ALKS. Citigroup set a $25.00 price objective on Alkermes and gave the stock a hold rating in a research note on Friday, July 26th. Goldman Sachs Group raised Alkermes from a sell rating to a neutral rating and set a $27.00 price objective for the company in a research note on Monday, July 15th. Cowen set a $34.00 price objective on Alkermes and gave the stock a buy rating in a research note on Friday, September 13th. ValuEngine raised Alkermes from a sell rating to a hold rating in a research note on Thursday, August 1st. Finally, Morgan Stanley raised Alkermes from an underweight rating to an equal rating and reduced their price objective for the stock from $30.00 to $20.00 in a research note on Thursday, September 5th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. Alkermes presently has a consensus rating of Hold and an average price target of $28.45.

Shares of NASDAQ ALKS opened at $18.15 on Friday. The stock has a fifty day moving average price of $19.94 and a two-hundred day moving average price of $23.98. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.69 and a current ratio of 2.98. The firm has a market cap of $2.79 billion, a P/E ratio of -259.29 and a beta of 1.81. Alkermes has a 1 year low of $17.11 and a 1 year high of $42.69.

Alkermes (NASDAQ:ALKS) last issued its quarterly earnings results on Thursday, July 25th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.20. The firm had revenue of $279.90 million during the quarter, compared to analyst estimates of $251.40 million. Alkermes had a negative return on equity of 4.13% and a negative net margin of 17.10%. The firm’s quarterly revenue was down 8.1% on a year-over-year basis. During the same period last year, the company posted $0.29 EPS. On average, research analysts predict that Alkermes will post -0.41 earnings per share for the current fiscal year.

In other news, CEO Richard F. Pops sold 100,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $22.68, for a total transaction of $2,268,000.00. Following the completion of the sale, the chief executive officer now directly owns 816,433 shares of the company’s stock, valued at approximately $18,516,700.44. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have sold 300,000 shares of company stock valued at $6,440,000. Corporate insiders own 4.71% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Nisa Investment Advisors LLC raised its holdings in Alkermes by 548.5% during the third quarter. Nisa Investment Advisors LLC now owns 12,970 shares of the company’s stock valued at $253,000 after buying an additional 10,970 shares in the last quarter. Meeder Asset Management Inc. raised its holdings in Alkermes by 276.3% during the third quarter. Meeder Asset Management Inc. now owns 8,087 shares of the company’s stock valued at $158,000 after buying an additional 5,938 shares in the last quarter. Rhenman & Partners Asset Management AB raised its holdings in Alkermes by 82.7% during the third quarter. Rhenman & Partners Asset Management AB now owns 220,000 shares of the company’s stock valued at $4,292,000 after buying an additional 99,601 shares in the last quarter. Fox Run Management L.L.C. bought a new position in Alkermes during the third quarter valued at about $304,000. Finally, Parallax Volatility Advisers L.P. bought a new position in Alkermes during the second quarter valued at about $444,000. 95.89% of the stock is owned by institutional investors and hedge funds.

Alkermes Company Profile

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. The company's marketed products include ARISTADA (aripiprazole lauroxil), an extended-release intramuscular injectable suspension for the treatment of schizophrenia; VIVITROL (naltrexone for extended-release injectable suspension) for the treatment of alcohol and 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 for treating schizophrenia; and AMPYRA (dalfampridine)/FAMPYRA (fampridine) to enhance walking in adults with multiple sclerosis (MS) who have walking disability.

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Analyst Recommendations for Alkermes (NASDAQ:ALKS)

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