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Credit Suisse Thinks Alkermes’ Stock is Going to Recover


Credit Suisse analyst Vamil Divan maintained a Buy rating on Alkermes (NASDAQ: ALKS) on October 9 and set a price target of $51. The company’s shares closed yesterday at $42.53, close to its 52-week low of $38.23.

According to TipRanks.com, Divan is a 1-star analyst with an average return of -1.2% and a 46.0% success rate. Divan covers the Healthcare sector, focusing on stocks such as Aimmune Therapeutics, Johnson & Johnson, and Eli Lilly & Co.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Alkermes with a $53.86 average price target.

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Based on Alkermes’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $32.65 million. In comparison, last year the company had a GAAP net loss of $36.28 million.

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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.