Morgan Stanley analyst David Risinger maintained a Hold rating on Alkermes (ALKS) today and set a price target of $16.00. The company’s shares closed last Thursday at $13.66, close to its 52-week low of $11.98.
According to TipRanks.com, Risinger is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -8.2% and a 39.9% success rate. Risinger covers the Healthcare sector, focusing on stocks such as Teva Pharmaceutical Industries, Bausch Health Companies, and Horizon Therapeutics.
Currently, the analyst consensus on Alkermes is a Hold with an average price target of $21.75, which is a 58.4% upside from current levels. In a report issued on March 23, Merrill Lynch also maintained a Hold rating on the stock with a $17.00 price target.
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Based on Alkermes’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $413 million and GAAP net loss of $5.35 million. In comparison, last year the company earned revenue of $316 million and had a GAAP net loss of $9.71 million.
Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ALKS in relation to earlier this year.
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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. Its products include Aristada, which is used for the treatment of schizophrenia in adults; and Vivitrol, which is an injectable medication for the treatment of alcohol dependence and for the prevention of relapse to opioid dependence, following opioid detoxification. The company was founded on May 4, 2011 and is headquartered in Dublin, Ireland.
