Alkermes (NASDAQ:ALKS) Upgraded at BidaskClub

BidaskClub upgraded shares of Alkermes (NASDAQ:ALKS) from a sell rating to a hold rating in a report issued on Thursday, BidAskClub reports.

ALKS has been the topic of several other research reports. Goldman Sachs Group downgraded Alkermes from a neutral rating to a sell rating and cut their price target for the stock from $19.00 to $15.00 in a report on Thursday, July 30th. HC Wainwright reissued a hold rating and issued a $23.00 price target on shares of Alkermes in a report on Thursday, July 30th. Finally, Mizuho raised their price target on Alkermes from $16.00 to $19.00 and gave the stock a neutral rating in a report on Thursday, July 30th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $20.00.

NASDAQ:ALKS opened at $18.03 on Thursday. The company has a quick ratio of 2.59, a current ratio of 2.95 and a debt-to-equity ratio of 0.26. The business’s 50 day moving average is $17.56 and its two-hundred day moving average is $17.05. Alkermes has a 52 week low of $11.98 and a 52 week high of $21.93. The company has a market cap of $2.87 billion, a PE ratio of -22.54 and a beta of 1.32.

Alkermes (NASDAQ:ALKS) last released its earnings results on Wednesday, July 29th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.19. Alkermes had a positive return on equity of 4.47% and a negative net margin of 10.87%. The company had revenue of $247.53 million for the quarter, compared to the consensus estimate of $232.70 million. During the same quarter last year, the business posted $0.09 EPS. Alkermes’s quarterly revenue was down 11.6% compared to the same quarter last year. As a group, sell-side analysts expect that Alkermes will post -0.47 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. M&T Bank Corp acquired a new position in shares of Alkermes during the 1st quarter valued at $11,536,000. Sowell Financial Services LLC grew its holdings in shares of Alkermes by 8,181.8% in the 1st quarter. Sowell Financial Services LLC now owns 1,822 shares of the company’s stock worth $26,000 after acquiring an additional 1,800 shares during the last quarter. Advisor Group Holdings Inc. acquired a new position in shares of Alkermes in the 1st quarter worth $41,000. Captrust Financial Advisors acquired a new position in shares of Alkermes in the 2nd quarter worth $123,000. Finally, Globeflex Capital L P grew its holdings in shares of Alkermes by 62.3% in the 1st quarter. Globeflex Capital L P now owns 6,599 shares of the company’s stock worth $95,000 after acquiring an additional 2,532 shares during the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

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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