News

Fintel reports that on June 17, 2024, TD Cowen initiated coverage of Alkermes (NasdaqGS:ALKS) with a Buy recommendation.

Analyst Price Forecast Suggests 42.31% Upside

As of June 12, 2024, the average one-year price target for Alkermes is 35.61. The forecasts range from a low of 21.21 to a high of $52.50. The average price target represents an increase of 42.31% from its latest reported closing price of 25.02.

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The projected annual revenue for Alkermes is 1,330MM, a decrease of 22.95%. The projected annual non-GAAP EPS is 1.36.

What is the Fund Sentiment?

There are 789 funds or institutions reporting positions in Alkermes. This is an increase of 89 owner(s) or 12.71% in the last quarter. Average portfolio weight of all funds dedicated to ALKS is 0.22%, an increase of 11.15%. Total shares owned by institutions increased in the last three months by 0.67% to 193,116K shares.

The put/call ratio of ALKS is 0.80, indicating a bullish outlook.

What are Other Shareholders Doing?

Wellington Management Group Llp holds 14,892K shares representing 8.80% ownership of the company. In its prior filing, the firm reported owning 15,241K shares , representing a decrease of 2.34%. The firm decreased its portfolio allocation in ALKS by 87.12% over the last quarter.

IJR - iShares Core S&P Small-Cap ETF holds 11,284K shares representing 6.67% ownership of the company. In its prior filing, the firm reported owning 11,160K shares , representing an increase of 1.10%. The firm decreased its portfolio allocation in ALKS by 5.50% over the last quarter.

VGHCX - Vanguard Health Care Fund Investor Shares holds 8,602K shares representing 5.08% ownership of the company. In its prior filing, the firm reported owning 7,675K shares , representing an increase of 10.77%. The firm increased its portfolio allocation in ALKS by 15.77% over the last quarter.

Price T Rowe Associates holds 8,326K shares representing 4.92% ownership of the company. In its prior filing, the firm reported owning 1,596K shares , representing an increase of 80.84%. The firm increased its portfolio allocation in ALKS by 364.51% over the last quarter.

Rtw Investments holds 6,054K shares representing 3.58% ownership of the company. In its prior filing, the firm reported owning 3,902K shares , representing an increase of 35.56%. The firm increased its portfolio allocation in ALKS by 43.10% over the last quarter.

Alkermes Background Information
(This description is provided by the company.)

Alkermes plc is a fully integrated, global biopharmaceutical company developing innovative medicines in the fields of neuroscience and oncology. The company has a portfolio of proprietary commercial products focused on addiction and schizophrenia, and a pipeline of product candidates in development for schizophrenia, bipolar I disorder, neurodegenerative disorders, and cancer. Headquartered in Dublin, Ireland, Alkermes plc has an R&D center in Waltham, Massachusetts; a research and manufacturing facility in Athlone, Ireland; and a manufacturing facility in Wilmington, Ohio.

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This story originally appeared on Fintel.

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