Leerink Partners Initiates a Hold Rating on Alkermes (ALKS)

By Ryan Adsit

In a report released today, Marc Goodman from Leerink Partners initiated coverage with a Hold rating on Alkermes (ALKSResearch Report) and a price target of $36. The company’s shares closed yesterday at $33, close to its 52-week low of $32.77.

According to TipRanks.com, Goodman is a 3-star analyst with an average return of 1.8% and a 47.4% success rate. Goodman covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, ACADIA Pharmaceuticals Inc, and Intra-Cellular Therapies.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Alkermes with a $45.67 average price target, a 38.4% upside from current levels. In a report issued on November 5, Piper Jaffray also initiated coverage with a Hold rating on the stock with a $40 price target.

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The company has a one-year high of $71.22 and a one-year low of $32.77. Currently, Alkermes has an average volume of 752.8K.

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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.