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

HC Wainwright reissued their neutral rating on shares of Alkermes (NASDAQ:ALKS) in a report published on Thursday, Marketbeat Ratings reports. They currently have a $46.00 target price on the stock.

ALKS has been the topic of several other research reports. Stifel Nicolaus upgraded shares of Alkermes from a “hold” rating to a “buy” rating and lifted their target price for the company from $25.00 to $36.00 in a report on Tuesday, November 5th. Cantor Fitzgerald reduced their price objective on Alkermes from $48.00 to $43.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft began coverage on Alkermes in a research report on Tuesday. They issued a “buy” rating and a $40.00 target price for the company. The Goldman Sachs Group dropped their target price on Alkermes from $32.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Finally, Piper Sandler reissued an “overweight” rating and set a $37.00 price target (down from $38.00) on shares of Alkermes in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $37.08.

Alkermes Stock Performance

Alkermes stock opened at $36.00 on Thursday. The company has a market cap of $5.82 billion, a price-to-earnings ratio of 18.46, a price-to-earnings-growth ratio of 1.83 and a beta of 0.49. Alkermes has a 12 month low of $22.90 and a 12 month high of $36.06. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.45 and a quick ratio of 3.03. The stock’s 50-day moving average is $30.21 and its 200-day moving average is $28.68.

Alkermes (NASDAQ:ALKS) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.81 by $0.11. Alkermes had a net margin of 22.15% and a return on equity of 24.92%. Equities analysts anticipate that Alkermes will post 2.23 earnings per share for the current year.

Insider Activity

In other Alkermes news, SVP Christian Todd Nichols sold 5,208 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $29.15, for a total transaction of $151,813.20. Following the sale, the senior vice president now owns 60,703 shares in the company, valued at $1,769,492.45. This represents a 7.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Craig C. Hopkinson sold 61,151 shares of Alkermes stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $32.07, for a total value of $1,961,112.57. Following the completion of the transaction, the executive vice president now owns 47,576 shares of the company’s stock, valued at approximately $1,525,762.32. The trade was a 56.24 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 179,189 shares of company stock worth $5,723,518. 4.89% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alkermes

Several large investors have recently added to or reduced their stakes in ALKS. Renaissance Technologies LLC raised its holdings in shares of Alkermes by 1.1% during the fourth quarter. Renaissance Technologies LLC now owns 5,478,728 shares of the company’s stock worth $157,568,000 after purchasing an additional 57,697 shares during the period. American Century Companies Inc. grew its position in shares of Alkermes by 6.5% during the 4th quarter. American Century Companies Inc. now owns 3,450,707 shares of the company’s stock valued at $99,242,000 after buying an additional 209,740 shares during the last quarter. Loomis Sayles & Co. L P raised its stake in Alkermes by 22.3% during the fourth quarter. Loomis Sayles & Co. L P now owns 2,302,905 shares of the company’s stock worth $66,232,000 after acquiring an additional 419,969 shares during the period. Artisan Partners Limited Partnership lifted its holdings in Alkermes by 2.6% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,988,796 shares of the company’s stock worth $57,198,000 after acquiring an additional 50,470 shares during the last quarter. Finally, Norges Bank bought a new position in Alkermes in the fourth quarter worth about $56,684,000. 95.21% of the stock is currently owned by institutional investors.

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.