Alkermes (NASDAQ:ALKS) Earns Hold Rating from JPMorgan Chase & Co.

JPMorgan Chase & Co. reissued their hold rating on shares of Alkermes (NASDAQ:ALKS) in a research report released on Monday, AnalystRatings.com reports.

A number of other brokerages have also issued reports on ALKS. Goldman Sachs Group lowered Alkermes from a neutral rating to a sell rating and dropped their target price for the stock from $19.00 to $15.00 in a research report on Thursday, July 30th. BidaskClub raised Alkermes from a sell rating to a hold rating in a research report on Thursday, September 17th. HC Wainwright reaffirmed a hold rating and set a $23.00 target price on shares of Alkermes in a research report on Thursday, July 30th. Finally, Mizuho boosted their price objective on Alkermes from $16.00 to $19.00 and gave the company a neutral rating in a report on Thursday, July 30th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $20.00.

NASDAQ:ALKS opened at $16.53 on Monday. The business’s 50-day moving average is $17.47 and its two-hundred day moving average is $16.96. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.95 and a quick ratio of 2.59. Alkermes has a 12 month low of $11.98 and a 12 month high of $21.88. The firm has a market capitalization of $2.63 billion, a PE ratio of -20.66 and a beta of 1.32.

Alkermes (NASDAQ:ALKS) last announced its earnings results on Wednesday, July 29th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 business had revenue of $247.53 million for the quarter, compared to analyst estimates of $232.70 million. During the same period in the previous year, the company earned $0.09 earnings per share. The company’s revenue for the quarter was down 11.6% compared to the same quarter last year. Equities analysts anticipate that Alkermes will post -0.47 EPS for the current year.

A number of hedge funds have recently modified their holdings of the business. State Board of Administration of Florida Retirement System boosted its stake in Alkermes by 0.3% in the second quarter. State Board of Administration of Florida Retirement System now owns 210,685 shares of the company’s stock valued at $4,088,000 after acquiring an additional 663 shares during the period. M&T Bank Corp acquired a new position in Alkermes in the first quarter valued at approximately $11,536,000. Sowell Financial Services LLC boosted its stake in Alkermes by 8,181.8% in the first quarter. Sowell Financial Services LLC now owns 1,822 shares of the company’s stock valued at $26,000 after acquiring an additional 1,800 shares during the period. Dynamic Technology Lab Private Ltd boosted its stake in Alkermes by 7.5% in the first quarter. Dynamic Technology Lab Private Ltd now owns 27,634 shares of the company’s stock valued at $398,000 after acquiring an additional 1,923 shares during the period. Finally, Globeflex Capital L P boosted its stake in Alkermes by 62.3% in the first quarter. Globeflex Capital L P now owns 6,599 shares of the company’s stock valued at $95,000 after acquiring an additional 2,532 shares during the period. Institutional investors own 98.93% of the company’s stock.

About Alkermes

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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