Alkermes (ALKS) Rating Reiterated by Cowen

Alkermes (NASDAQ:ALKS)‘s stock had its “buy” rating reissued by investment analysts at Cowen in a research note issued on Tuesday. They currently have a $58.00 price objective on the stock. Cowen’s target price suggests a potential upside of 42.05% from the company’s previous close.

Several other equities research analysts have also issued reports on the stock. Zacks Investment Research raised shares of Alkermes from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research note on Wednesday, October 10th. BidaskClub lowered shares of Alkermes from a “hold” rating to a “sell” rating in a research note on Wednesday, September 19th. Stifel Nicolaus started coverage on shares of Alkermes in a research note on Monday, August 6th. They set a “hold” rating and a $45.00 target price on the stock. Credit Suisse Group lowered their target price on shares of Alkermes from $57.00 to $51.00 and set a “buy” rating on the stock in a research note on Friday, July 27th. Finally, Bank of America lowered their target price on shares of Alkermes from $56.00 to $54.00 and set a “buy” rating on the stock in a research note on Friday, July 27th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $54.09.

ALKS stock opened at $40.83 on Tuesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.56 and a current ratio of 2.85. Alkermes has a 52-week low of $37.01 and a 52-week high of $71.22. The stock has a market cap of $6.43 billion, a PE ratio of -110.35 and a beta of 1.72.

Alkermes (NASDAQ:ALKS) last posted its earnings results on Tuesday, October 23rd. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.15. Alkermes had a negative net margin of 13.23% and a negative return on equity of 0.12%. The business had revenue of $248.72 million for the quarter, compared to analyst estimates of $236.70 million. During the same period in the prior year, the company posted $0.03 EPS. The company’s revenue for the quarter was up 14.4% on a year-over-year basis. Sell-side analysts forecast that Alkermes will post -0.5 earnings per share for the current fiscal year.

In related news, Director Paul J. Mitchell sold 1,000 shares of the company’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $42.42, for a total transaction of $42,420.00. Following the completion of the transaction, the director now owns 8,000 shares in the company, valued at approximately $339,360. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 5.51% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers raised its position in shares of Alkermes by 2.0% during the 2nd quarter. Rhumbline Advisers now owns 163,757 shares of the company’s stock worth $6,740,000 after purchasing an additional 3,236 shares during the last quarter. Capital Fund Management S.A. acquired a new position in shares of Alkermes during the 2nd quarter worth about $4,159,000. Rhenman & Partners Asset Management AB raised its position in shares of Alkermes by 4.0% during the 3rd quarter. Rhenman & Partners Asset Management AB now owns 301,610 shares of the company’s stock worth $12,800,000 after purchasing an additional 11,610 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Alkermes by 5.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 567,198 shares of the company’s stock worth $23,346,000 after purchasing an additional 30,410 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Alkermes by 4.7% during the 2nd quarter. Van ECK Associates Corp now owns 126,272 shares of the company’s stock worth $5,197,000 after purchasing an additional 5,629 shares during the last quarter.

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; INVEGA SUSTENNA for the treatment of schizophrenia and schizoaffective disorder; XEPLION, INVEGA TRINZA, and TREVICTA for treating schizophrenia; RISPERDAL CONSTA for the treatment of schizophrenia and bipolar I disorder; AMPYRA (dalfampridine)/FAMPYRA (fampridine) to enhance walking in adults with multiple sclerosis (MS) who have walking disability; and BYDUREON (exenatide extended-release for injectable suspension) and BYDUREON BCise for the treatment of type 2 diabetes.

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Analyst Recommendations for Alkermes (NASDAQ:ALKS)

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