BidaskClub upgraded shares of Alkermes (NASDAQ:ALKS) from a sell rating to a hold rating in a report published on Wednesday.
ALKS has been the subject of several other reports. Cowen reduced their price target on Alkermes to $55.00 and set an outperform rating for the company in a research report on Monday, April 2nd. Credit Suisse Group set a $66.00 price target on Alkermes and gave the company a buy rating in a research report on Wednesday, February 14th. Zacks Investment Research cut Alkermes from a buy rating to a hold rating in a research report on Friday, February 2nd. Cantor Fitzgerald reduced their price target on Alkermes to $45.00 and set a neutral rating for the company in a research report on Monday, April 2nd. Finally, Jefferies Group cut Alkermes from a buy rating to a hold rating and lifted their price target for the company from $63.19 to $66.00 in a research report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. Alkermes currently has a consensus rating of Hold and a consensus target price of $59.15.
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Shares of Alkermes opened at $47.68 on Wednesday, MarketBeat Ratings reports. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.83 and a quick ratio of 2.52. The company has a market cap of $7.17 billion, a P/E ratio of -128.86 and a beta of 1.81. Alkermes has a twelve month low of $46.61 and a twelve month high of $48.63.
Alkermes (NASDAQ:ALKS) last announced its quarterly earnings results on Thursday, April 26th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.02). The company had revenue of $225.20 million for the quarter, compared to analysts’ expectations of $219.51 million. Alkermes had a negative net margin of 16.18% and a negative return on equity of 3.13%. The firm’s revenue was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.18) earnings per share. equities analysts predict that Alkermes will post -0.66 earnings per share for the current year.
In other news, Director Richard F. Pops sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 1st. The stock was sold at an average price of $44.02, for a total value of $2,201,000.00. Following the completion of the sale, the director now directly owns 716,352 shares in the company, valued at $31,533,815.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul J. Mitchell sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $46.75, for a total value of $46,750.00. Following the completion of the sale, the director now owns 8,000 shares of the company’s stock, valued at $374,000. The disclosure for this sale can be found here. Insiders sold 112,880 shares of company stock valued at $5,287,830 over the last 90 days. Company insiders own 5.34% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Rockefeller Capital Management L.P. purchased a new stake in shares of Alkermes during the first quarter worth approximately $107,000. SG Americas Securities LLC purchased a new stake in shares of Alkermes during the fourth quarter worth approximately $114,000. First Mercantile Trust Co. purchased a new stake in shares of Alkermes during the first quarter worth approximately $140,000. D.A. Davidson & CO. purchased a new stake in shares of Alkermes during the first quarter worth approximately $204,000. Finally, Baird Financial Group Inc. purchased a new stake in shares of Alkermes during the first quarter worth approximately $206,000.
About Alkermes
Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in various therapeutic areas in the United States, Ireland, and internationally. The company's marketed products include ARISTADA (aripiprazole lauroxil), an extended-release intramuscular injectable suspension for the treatment of schizophrenia; VIVITROL (naltrexone for extended-release injectable suspension) for the treatment of alcohol and opioid dependence; INVEGA SUSTENNA for the treatment of schizophrenia and schizoaffective disorder; XEPLION, INVEGA TRINZA, and TREVICTA for treating schizophrenia; RISPERDAL CONSTA for the treatment of schizophrenia and bipolar I disorder; AMPYRA (dalfampridine)/FAMPYRA (fampridine) to enhance walking in adults with multiple sclerosis (MS) who have walking disability; and BYDUREON (exenatide extended-release for injectable suspension) and BYDUREON BCise for the treatment of type 2 diabetes.
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