Alkermes plc (NASDAQ:ALKS) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Alkermes plc (NASDAQ:ALKS) have been given an average recommendation of “Moderate Buy” by the thirteen brokerages that are covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $38.85.

A number of equities analysts have weighed in on the stock. Cantor Fitzgerald raised shares of Alkermes to a “strong-buy” rating in a research report on Tuesday, May 13th. Robert W. Baird boosted their price target on Alkermes from $38.00 to $41.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. Deutsche Bank Aktiengesellschaft increased their price target on Alkermes from $40.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, March 27th. UBS Group restated a “sector perform” rating on shares of Alkermes in a report on Monday, April 28th. Finally, HC Wainwright reaffirmed a “neutral” rating on shares of Alkermes in a research report on Friday, May 2nd.

Alkermes Stock Performance

Shares of NASDAQ:ALKS opened at $31.71 on Wednesday. The business’s 50-day simple moving average is $29.62 and its 200 day simple moving average is $30.99. The company has a market cap of $5.23 billion, a P/E ratio of 14.61, a PEG ratio of 2.20 and a beta of 0.47. Alkermes has a one year low of $22.90 and a one year high of $36.45.

Alkermes (NASDAQ:ALKS) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.19). The firm had revenue of $306.51 million for the quarter, compared to analysts’ expectations of $307.53 million. Alkermes had a net margin of 23.57% and a return on equity of 30.80%. The company’s revenue for the quarter was down 12.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.43 EPS. Analysts predict that Alkermes will post 1.31 earnings per share for the current year.

Institutional Trading of Alkermes

Institutional investors and hedge funds have recently modified their holdings of the business. Venturi Wealth Management LLC acquired a new stake in Alkermes in the fourth quarter worth $25,000. Twin Tree Management LP bought a new position in shares of Alkermes during the first quarter worth about $29,000. Brooklyn Investment Group grew its position in shares of Alkermes by 1,071.1% during the first quarter. Brooklyn Investment Group now owns 1,054 shares of the company’s stock worth $35,000 after acquiring an additional 964 shares during the last quarter. Quantbot Technologies LP increased its holdings in shares of Alkermes by 54.5% in the 1st quarter. Quantbot Technologies LP now owns 1,091 shares of the company’s stock worth $36,000 after acquiring an additional 385 shares during the period. Finally, USA Financial Formulas acquired a new stake in shares of Alkermes in the 1st quarter worth about $49,000. 95.21% of the stock is owned by institutional investors and hedge funds.

About Alkermes

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.