Alkermes (NASDAQ:ALKS) Stock Rating Upgraded by UBS Group

Alkermes (NASDAQ:ALKS) was upgraded by research analysts at UBS Group from a “neutral” rating to a “buy” rating in a report issued on Tuesday, Marketbeat reports. The brokerage presently has a $42.00 price target on the stock, up from their prior price target of $33.00. UBS Group’s price objective would indicate a potential upside of 42.76% from the company’s current price.

Several other research firms have also weighed in on ALKS. Royal Bank of Canada lifted their target price on Alkermes from $39.00 to $40.00 and gave the stock a “sector perform” rating in a report on Friday, May 2nd. Cantor Fitzgerald raised Alkermes to a “strong-buy” rating in a research report on Tuesday, May 13th. Wall Street Zen lowered Alkermes from a “strong-buy” rating to a “buy” rating in a research report on Monday, May 5th. HC Wainwright reaffirmed a “neutral” rating on shares of Alkermes in a research note on Friday, May 2nd. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Alkermes from $40.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Alkermes presently has a consensus rating of “Moderate Buy” and an average price target of $39.54.

Alkermes Price Performance

Shares of ALKS stock opened at $29.42 on Tuesday. The stock has a market cap of $4.85 billion, a PE ratio of 13.56, a price-to-earnings-growth ratio of 2.20 and a beta of 0.47. The stock has a 50-day moving average of $29.68 and a 200-day moving average of $31.05. Alkermes has a one year low of $22.90 and a one year high of $36.45.

Alkermes (NASDAQ:ALKS) last issued its earnings results on Thursday, May 1st. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.19). The firm had revenue of $306.51 million during the quarter, compared to the consensus estimate of $307.53 million. Alkermes had a net margin of 23.57% and a return on equity of 30.80%. The firm’s revenue for the quarter was down 12.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.43 EPS. As a group, research analysts anticipate that Alkermes will post 1.31 earnings per share for the current year.

Insider Buying and Selling

In other Alkermes news, SVP Christian Todd Nichols sold 3,334 shares of the stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $31.09, for a total value of $103,654.06. Following the completion of the sale, the senior vice president now owns 86,208 shares in the company, valued at $2,680,206.72. This trade represents a 3.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 4.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alkermes

Hedge funds have recently bought and sold shares of the company. Venturi Wealth Management LLC bought a new position in Alkermes during the fourth quarter worth $25,000. Twin Tree Management LP acquired a new stake in Alkermes during the first quarter worth approximately $29,000. Brooklyn Investment Group boosted its holdings in shares of Alkermes by 1,071.1% during the first quarter. Brooklyn Investment Group now owns 1,054 shares of the company’s stock worth $35,000 after acquiring an additional 964 shares during the period. Quantbot Technologies LP boosted its holdings in shares of Alkermes by 54.5% during the first quarter. Quantbot Technologies LP now owns 1,091 shares of the company’s stock worth $36,000 after acquiring an additional 385 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in Alkermes by 106.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,635 shares of the company’s stock worth $47,000 after purchasing an additional 842 shares during the last quarter. 95.21% of the stock is currently owned by institutional investors and hedge funds.

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.