Alkermes PLC (NASDAQ:ALKS) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Wednesday, August 9th.
Other equities research analysts have also issued reports about the company. J P Morgan Chase & Co set a $78.00 price target on Alkermes PLC and gave the company a “buy” rating in a research report on Saturday, July 1st. ValuEngine upgraded Alkermes PLC from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Morgan Stanley restated an “equal weight” rating and set a $62.00 price target on shares of Alkermes PLC in a research report on Monday, April 24th. Leerink Swann lowered Alkermes PLC from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $68.00 to $61.00 in a research report on Tuesday, June 13th. Finally, Credit Suisse Group set a $70.00 price target on Alkermes PLC and gave the company a “buy” rating in a research report on Friday, May 19th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $63.00.
Alkermes PLC (NASDAQ:ALKS) opened at 50.90 on Wednesday. Alkermes PLC has a 12 month low of $41.93 and a 12 month high of $63.40. The firm’s market capitalization is $7.82 billion. The stock’s 50 day moving average price is $55.78 and its 200-day moving average price is $57.15.
Alkermes PLC (NASDAQ:ALKS) last released its quarterly earnings results on Thursday, July 27th. The company reported $0.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. Alkermes PLC had a negative return on equity of 9.12% and a negative net margin of 24.33%. The company had revenue of $218.80 million for the quarter, compared to analyst estimates of $216.54 million. During the same period in the previous year, the company posted ($0.01) earnings per share. The firm’s revenue was up 12.1% on a year-over-year basis. Equities analysts anticipate that Alkermes PLC will post ($0.04) EPS for the current fiscal year.
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In other news, Director Richard F. Pops sold 25,000 shares of the business’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $57.42, for a total value of $1,435,500.00. Following the completion of the transaction, the director now owns 649,137 shares in the company, valued at $37,273,446.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul J. Mitchell sold 1,500 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $54.91, for a total value of $82,365.00. Following the completion of the transaction, the director now owns 9,500 shares of the company’s stock, valued at approximately $521,645. The disclosure for this sale can be found here. Insiders sold 39,500 shares of company stock worth $2,294,565 over the last three months. Corporate insiders own 5.34% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Toronto Dominion Bank boosted its position in Alkermes PLC by 12.7% in the second quarter. Toronto Dominion Bank now owns 1,875 shares of the company’s stock valued at $109,000 after buying an additional 212 shares in the last quarter. Daiwa SB Investments Ltd. acquired a new position in Alkermes PLC during the second quarter valued at $166,000. Greenwood Capital Associates LLC boosted its position in Alkermes PLC by 2.4% in the first quarter. Greenwood Capital Associates LLC now owns 3,729 shares of the company’s stock valued at $218,000 after buying an additional 89 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its position in Alkermes PLC by 5.9% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 4,053 shares of the company’s stock valued at $222,000 after buying an additional 224 shares in the last quarter. Finally, US Bancorp DE boosted its position in Alkermes PLC by 366.4% in the second quarter. US Bancorp DE now owns 3,974 shares of the company’s stock valued at $231,000 after buying an additional 3,122 shares in the last quarter. Hedge funds and other institutional investors own 97.19% of the company’s stock.
Alkermes PLC Company Profile
Alkermes plc is a biopharmaceutical company. The Company is engaged in the researching, developing and commercializing pharmaceutical products that are designed to address medical needs of patients in therapeutic areas. The Company has a portfolio of marketed drug products and a clinical pipeline of products that address central nervous system (CNS) disorders, such as schizophrenia, depression, addiction and multiple sclerosis (MS).
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