HC Wainwright Reiterates “Neutral” Rating for Alkermes (NASDAQ:ALKS)

Alkermes (NASDAQ:ALKS)‘s stock had its “neutral” rating restated by equities research analysts at HC Wainwright in a report released on Thursday, Stock Target Advisor reports. They presently have a $46.00 target price on the stock. HC Wainwright’s target price would indicate a potential upside of 37.31% from the stock’s current price.

A number of other analysts have also issued reports on the stock. Cantor Fitzgerald dropped their price target on shares of Alkermes from $48.00 to $43.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Piper Sandler restated an “overweight” rating and issued a $37.00 target price (down previously from $38.00) on shares of Alkermes in a research note on Friday, October 25th. Mizuho boosted their price objective on Alkermes from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. reduced their target price on Alkermes from $32.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Alkermes in a report on Tuesday. They issued a “buy” rating and a $40.00 price target for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.08.

Alkermes Stock Performance

Shares of ALKS stock opened at $33.50 on Thursday. Alkermes has a 52 week low of $22.90 and a 52 week high of $33.73. The company has a market cap of $5.42 billion, a PE ratio of 17.18, a P/E/G ratio of 1.83 and a beta of 0.49. The company has a current ratio of 3.45, a quick ratio of 3.03 and a debt-to-equity ratio of 0.22. The company’s fifty day simple moving average is $30.16 and its 200-day simple moving average is $28.65.

Alkermes (NASDAQ:ALKS) last announced its 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 return on equity of 24.92% and a net margin of 22.15%. As a group, equities research analysts anticipate that Alkermes will post 2.23 EPS for the current year.

Insider Transactions at Alkermes

In other news, SVP Christian Todd Nichols sold 5,208 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $29.15, for a total value of $151,813.20. Following the completion of the sale, the senior vice president now directly owns 60,703 shares in the company, valued at approximately $1,769,492.45. The trade was a 7.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Craig C. Hopkinson sold 9,221 shares of the company’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $31.50, for a total transaction of $290,461.50. Following the sale, the executive vice president now directly owns 59,730 shares of the company’s stock, valued at approximately $1,881,495. This represents a 13.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 179,189 shares of company stock worth $5,723,518 in the last 90 days. 4.89% of the stock is owned by insiders.

Hedge Funds Weigh In On Alkermes

Several large investors have recently made changes to their positions in ALKS. American Century Companies Inc. increased its position in Alkermes by 6.5% in the 4th quarter. American Century Companies Inc. now owns 3,450,707 shares of the company’s stock worth $99,242,000 after buying an additional 209,740 shares during the period. Loomis Sayles & Co. L P increased its position 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 boosted its holdings in Alkermes by 2.6% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,988,796 shares of the company’s stock valued at $57,198,000 after purchasing an additional 50,470 shares during the period. Norges Bank bought a new stake in shares of Alkermes in the fourth quarter valued at about $56,684,000. Finally, Principal Financial Group Inc. raised its holdings in Alkermes by 2.5% in the 4th quarter. Principal Financial Group Inc. now owns 899,764 shares of the company’s stock valued at $25,877,000 after acquiring an additional 21,821 shares in the last quarter. Institutional investors and hedge funds own 95.21% 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 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.