Alkermes plc (NASDAQ:ALKS – Get Free Report) was the recipient of a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 14,010,000 shares, a growth of 21.1% from the February 13th total of 11,570,000 shares. Approximately 8.8% of the shares of the stock are sold short. Based on an average daily volume of 1,690,000 shares, the days-to-cover ratio is presently 8.3 days.
Alkermes Price Performance
Shares of NASDAQ:ALKS opened at $34.37 on Tuesday. The firm has a market capitalization of $5.59 billion, a PE ratio of 15.84, a price-to-earnings-growth ratio of 2.20 and a beta of 0.62. The business has a 50 day simple moving average of $32.50 and a two-hundred day simple moving average of $29.90. Alkermes has a 1 year low of $22.90 and a 1 year high of $36.45.
Alkermes (NASDAQ:ALKS – Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.11. Alkermes had a return on equity of 30.80% and a net margin of 23.57%. Equities research analysts expect that Alkermes will post 1.31 EPS for the current fiscal year.
Insider Transactions at Alkermes
Institutional Trading of Alkermes
A number of large investors have recently modified their holdings of ALKS. Venturi Wealth Management LLC purchased a new stake in shares of Alkermes in the fourth quarter valued at approximately $25,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Alkermes by 106.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,635 shares of the company’s stock valued at $47,000 after purchasing an additional 842 shares during the period. Blue Trust Inc. boosted its holdings in shares of Alkermes by 2,231.5% in the fourth quarter. Blue Trust Inc. now owns 1,702 shares of the company’s stock valued at $49,000 after purchasing an additional 1,629 shares during the period. Smartleaf Asset Management LLC lifted its holdings in Alkermes by 558.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,950 shares of the company’s stock worth $85,000 after buying an additional 2,502 shares during the period. Finally, GF Fund Management CO. LTD. purchased a new stake in Alkermes during the fourth quarter worth $98,000. Hedge funds and other institutional investors own 95.21% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on ALKS shares. The Goldman Sachs Group boosted their price objective on Alkermes from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. StockNews.com raised Alkermes from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 13th. Deutsche Bank Aktiengesellschaft started coverage on Alkermes in a research note on Tuesday, February 11th. They set a “buy” rating and a $40.00 price objective on the stock. UBS Group raised Alkermes from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $21.00 to $38.00 in a research note on Tuesday, March 4th. Finally, Royal Bank of Canada began coverage on Alkermes in a research note on Thursday, March 13th. They set a “sector perform” rating and a $40.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.46.
Get Our Latest Analysis on ALKS
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.
Featured Stories
- Five stocks we like better than Alkermes
- Natural Gas Prices Continue To Rally, These Stocks Should Benefit
- Can TikTok Stock Picks Really Make You Rich?
- Short Selling – The Pros and Cons
- The “Quality” Rotation: Back to Basics Investing
- What Do S&P 500 Stocks Tell Investors About the Market?
- Occidental Petroleum: 4 Reasons to Love These Prices
Receive News & Ratings for Alkermes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alkermes and related companies with MarketBeat.com's FREE daily email newsletter.