In a report released today, Brandon Folkes from Cantor Fitzgerald reiterated a Hold rating on Alkermes (ALKS), with a price target of $33. The company’s shares closed on Monday at $29.51, close to its 52-week low of $27.54.
Folkes observed:
“: We recently assumed coverage of Alkermes and are publishing our views, reiterating a Neutral rating and setting a $33 PT. Despite ALKS stock being down ~60% from its 2018 highs, we believe the risk reward in ALKS is adequately reflected in the current stock price. Upside to our forecasts and rating could come from ALKS4230, ALKS’ early immune-oncology candidate, while we believe near term risk could come from pipeline failures, or Vivitrol and Aristada revenue below FactSet consensus estimates. We could be more positive on ALKS stock if the company is able to generate positive data on ALKS4230, or if current market products or near term launches exceed our expectations.”
According to TipRanks.com, Folkes has 0 stars on 0-5 star ranking scale with an average return of -7.6% and a 31.3% success rate. Folkes covers the Healthcare sector, focusing on stocks such as Opiant Pharmaceuticals Inc, Eagle Pharmaceuticals Inc, and Collegium Pharmaceutical.
Alkermes has an analyst consensus of Moderate Buy, with a price target consensus of $44.22.
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The company has a one-year high of $71.22 and a one-year low of $27.54. Currently, Alkermes has an average volume of 978.6K.
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Alkermes Plc IS a biopharmaceutical company, which engages in the development, research, and commercialization of medicines that are designed to address unmet medical needs of patients in major therapeutic areas. It operates through the following geographical segments: U.S., Ireland, Rest of the World, and Other.
