Alkermes (NASDAQ:ALKS) Given “Neutral” Rating at HC Wainwright

Alkermes (NASDAQ:ALKS)‘s stock had its “neutral” rating reissued by investment analysts at HC Wainwright in a report issued on Friday, Benzinga reports. They currently have a $35.00 price objective on the stock. HC Wainwright’s price target would indicate a potential upside of 47.31% from the company’s current price.

A number of other research analysts have also issued reports on the stock. TheStreet upgraded shares of Alkermes from a “c+” rating to a “b” rating in a report on Thursday, February 15th. Bank of America upped their target price on shares of Alkermes from $27.00 to $29.00 and gave the company a “neutral” rating in a report on Tuesday, January 2nd. UBS Group lowered shares of Alkermes from a “neutral” rating to a “sell” rating and set a $25.00 target price on the stock. in a report on Tuesday, February 20th. Robert W. Baird initiated coverage on shares of Alkermes in a report on Tuesday, March 19th. They issued an “outperform” rating and a $37.00 target price on the stock. Finally, StockNews.com lowered shares of Alkermes from a “strong-buy” rating to a “buy” rating in a report on Friday, February 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Alkermes currently has an average rating of “Moderate Buy” and a consensus price target of $35.38.

Alkermes Price Performance

Alkermes stock opened at $23.76 on Friday. Alkermes has a 52 week low of $22.01 and a 52 week high of $33.71. The company has a quick ratio of 2.50, a current ratio of 2.86 and a debt-to-equity ratio of 0.24. The firm’s 50-day simple moving average is $27.90 and its 200 day simple moving average is $27.03. The firm has a market capitalization of $4.02 billion, a PE ratio of 11.48, a P/E/G ratio of 0.66 and a beta of 0.55.

Alkermes (NASDAQ:ALKS) last released its quarterly earnings data on Thursday, February 15th. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.29). Alkermes had a return on equity of 16.10% and a net margin of 21.39%. The business had revenue of $377.50 million during the quarter, compared to analysts’ expectations of $362.78 million. During the same quarter in the prior year, the firm earned ($0.02) earnings per share. Alkermes’s quarterly revenue was up 23.9% on a year-over-year basis. On average, equities research analysts predict that Alkermes will post 2.23 EPS for the current fiscal year.

Alkermes declared that its board has approved a share buyback plan on Thursday, February 15th that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the company to reacquire up to 8.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, SVP Christian Todd Nichols sold 10,417 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $28.10, for a total transaction of $292,717.70. Following the completion of the sale, the senior vice president now owns 65,911 shares of the company’s stock, valued at approximately $1,852,099.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.76% of the company’s stock.

Institutional Trading of Alkermes

Institutional investors and hedge funds have recently bought and sold shares of the business. Neo Ivy Capital Management acquired a new stake in Alkermes during the 2nd quarter worth approximately $27,000. Emerald Advisers LLC acquired a new stake in Alkermes during the 3rd quarter worth approximately $27,000. CWM LLC increased its position in Alkermes by 147.5% during the 3rd quarter. CWM LLC now owns 1,037 shares of the company’s stock worth $29,000 after purchasing an additional 618 shares in the last quarter. McGlone Suttner Wealth Management Inc. purchased a new position in Alkermes in the 4th quarter worth approximately $30,000. Finally, Castleview Partners LLC purchased a new position in Alkermes in the 2nd quarter worth approximately $38,000. Institutional investors and hedge funds 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.