Alkermes (NASDAQ:ALKS) Given New $30.00 Price Target at The Goldman Sachs Group

Alkermes (NASDAQ:ALKS) had its price target reduced by equities research analysts at The Goldman Sachs Group from $32.00 to $30.00 in a report released on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price points to a potential upside of 13.55% from the stock’s previous close.

A number of other brokerages also recently issued reports on ALKS. Robert W. Baird boosted their price target on Alkermes from $37.00 to $38.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. StockNews.com upgraded Alkermes from a “hold” rating to a “buy” rating in a report on Sunday, July 28th. JPMorgan Chase & Co. dropped their price objective on shares of Alkermes from $32.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday. Piper Sandler reaffirmed an “overweight” rating and issued a $37.00 target price (down from $38.00) on shares of Alkermes in a research note on Friday. Finally, HC Wainwright reaffirmed a “neutral” rating and set a $37.00 price target on shares of Alkermes in a research report on Friday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Alkermes currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.91.

Alkermes Stock Down 1.6 %

Shares of Alkermes stock traded down $0.43 on Friday, reaching $26.42. The stock had a trading volume of 1,939,719 shares, compared to its average volume of 1,840,941. The company has a quick ratio of 2.61, a current ratio of 2.99 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $4.47 billion, a P/E ratio of 10.44, a P/E/G ratio of 0.56 and a beta of 0.46. Alkermes has a 1 year low of $22.06 and a 1 year high of $32.88. The company has a 50 day moving average price of $27.85 and a 200 day moving average price of $25.87.

Alkermes (NASDAQ:ALKS) last issued its earnings results on Wednesday, July 24th. The company reported $0.70 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.70. The company had revenue of $399.13 million during the quarter, compared to analyst estimates of $393.30 million. Alkermes had a return on equity of 23.20% and a net margin of 19.15%. The firm’s quarterly revenue was down 35.4% on a year-over-year basis. During the same quarter last year, the business posted $0.38 EPS. As a group, equities research analysts forecast that Alkermes will post 2.36 EPS for the current year.

Institutional Investors Weigh In On Alkermes

Institutional investors have recently modified their holdings of the company. V Square Quantitative Management LLC acquired a new position in Alkermes during the third quarter worth about $29,000. Signaturefd LLC raised its stake in Alkermes by 51.2% in the 2nd quarter. Signaturefd LLC now owns 1,417 shares of the company’s stock valued at $34,000 after purchasing an additional 480 shares during the last quarter. Hexagon Capital Partners LLC boosted its stake in shares of Alkermes by 3,841.0% during the 2nd quarter. Hexagon Capital Partners LLC now owns 1,537 shares of the company’s stock worth $37,000 after purchasing an additional 1,498 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Alkermes by 44.4% during the second quarter. GAMMA Investing LLC now owns 2,287 shares of the company’s stock worth $55,000 after buying an additional 703 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of Alkermes in the second quarter valued at approximately $116,000. Hedge funds and other institutional investors own 95.21% 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 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.