Alkermes’ (ALKS) “Neutral” Rating Reaffirmed at HC Wainwright

HC Wainwright reissued their neutral rating on shares of Alkermes (NASDAQ:ALKS) in a research report report published on Friday morning, Benzinga reports. HC Wainwright currently has a $35.00 target price on the stock.

Other equities research analysts also recently issued research reports about the company. Bank of America raised their price objective on Alkermes from $27.00 to $29.00 and gave the company a neutral rating in a report on Tuesday, January 2nd. UBS Group downgraded Alkermes from a neutral rating to a sell rating and set a $25.00 price objective on the stock. in a report on Tuesday, February 20th. StockNews.com downgraded Alkermes from a strong-buy rating to a buy rating in a report on Friday, February 23rd. Piper Sandler reissued an overweight rating and set a $39.00 price objective on shares of Alkermes in a report on Monday, April 1st. Finally, Robert W. Baird initiated coverage on Alkermes in a report on Tuesday, March 19th. They set an outperform rating and a $37.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $35.38.

Alkermes Trading Up 0.4 %

Shares of ALKS stock opened at $23.85 on Friday. The stock’s fifty day moving average price is $27.83 and its two-hundred day moving average price is $27.00. The company has a market cap of $4.03 billion, a PE ratio of 11.52, a P/E/G ratio of 0.66 and a beta of 0.55. Alkermes has a fifty-two week low of $22.01 and a fifty-two week high of $33.71. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.50 and a current ratio of 2.86.

Alkermes (NASDAQ:ALKS) last issued its earnings results on Thursday, February 15th. The company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.29). The business had revenue of $377.50 million during the quarter, compared to analyst estimates of $362.78 million. Alkermes had a net margin of 21.39% and a return on equity of 16.10%. The company’s revenue for the quarter was up 23.9% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.02) EPS. Equities analysts predict that Alkermes will post 2.23 EPS for the current fiscal year.

Alkermes declared that its board has authorized a stock buyback program on Thursday, February 15th that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the company to purchase up to 8.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Alkermes

In other news, SVP Christian Todd Nichols sold 10,417 shares of Alkermes stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $28.10, for a total value of $292,717.70. Following the completion of the transaction, the senior vice president now directly owns 65,911 shares of the company’s stock, valued at approximately $1,852,099.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.76% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP increased its position in Alkermes by 52.7% in the 3rd quarter. Wellington Management Group LLP now owns 11,746,792 shares of the company’s stock valued at $329,028,000 after buying an additional 4,055,926 shares in the last quarter. RTW Investments LP increased its position in Alkermes by 338.8% in the 4th quarter. RTW Investments LP now owns 3,901,523 shares of the company’s stock valued at $108,228,000 after buying an additional 3,012,450 shares in the last quarter. Vanguard Group Inc. increased its position in Alkermes by 12.3% in the 4th quarter. Vanguard Group Inc. now owns 20,955,454 shares of the company’s stock valued at $581,304,000 after buying an additional 2,288,185 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Alkermes in the 1st quarter valued at about $56,494,000. Finally, Millennium Management LLC increased its position in Alkermes by 164.9% in the 4th quarter. Millennium Management LLC now owns 3,427,885 shares of the company’s stock valued at $89,571,000 after buying an additional 2,133,877 shares in the last quarter. 95.21% of the stock is owned by institutional investors.

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.