J P Morgan Chase & Co Analysts Give Alkermes PLC (ALKS) a $78.00 Price Target

J P Morgan Chase & Co set a $78.00 price target on Alkermes PLC (NASDAQ:ALKS) in a research note published on Friday morning. The brokerage currently has a buy rating on the stock.

A number of other brokerages also recently weighed in on ALKS. ValuEngine raised shares of Alkermes PLC from a sell rating to a hold rating in a research report on Friday, September 1st. Jefferies Group LLC set a $69.00 price objective on shares of Alkermes PLC and gave the company a buy rating in a research report on Friday, August 25th. BidaskClub downgraded shares of Alkermes PLC from a sell rating to a strong sell rating in a research report on Wednesday, August 9th. Citigroup Inc. set a $62.00 price objective on shares of Alkermes PLC and gave the company a hold rating in a research report on Thursday, October 26th. Finally, Credit Suisse Group lowered their price objective on shares of Alkermes PLC from $70.00 to $66.00 and set an outperform rating for the company in a research report on Friday. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of Hold and an average price target of $63.55.

Alkermes PLC (ALKS) opened at 48.89 on Friday. Alkermes PLC has a one year low of $47.01 and a one year high of $63.40. The firm’s 50 day moving average price is $51.24 and its 200 day moving average price is $54.93. The stock’s market cap is $7.51 billion.

Alkermes PLC (NASDAQ:ALKS) last announced its quarterly earnings data on Thursday, October 26th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.04. Alkermes PLC had a negative net margin of 20.12% and a negative return on equity of 7.27%. The business had revenue of $217.40 million during the quarter, compared to the consensus estimate of $231.29 million. During the same quarter in the prior year, the firm earned ($0.09) EPS. The company’s revenue for the quarter was up 20.6% compared to the same quarter last year. Equities analysts forecast that Alkermes PLC will post ($0.04) earnings per share for the current year.

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In other news, CAO Kathryn L. Biberstein sold 13,566 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $51.29, for a total value of $695,800.14. Following the completion of the sale, the chief accounting officer now directly owns 70,455 shares of the company’s stock, valued at approximately $3,613,636.95. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Paul J. Mitchell sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $50.64, for a total transaction of $75,960.00. The disclosure for this sale can be found here. Insiders have sold a total of 16,566 shares of company stock valued at $847,915 over the last three months. 5.34% of the stock is currently owned by company insiders.

Several large investors have recently modified their holdings of the company. Greenwood Capital Associates LLC lifted its stake in shares of Alkermes PLC by 1.1% in the 2nd quarter. Greenwood Capital Associates LLC now owns 3,770 shares of the company’s stock worth $219,000 after acquiring an additional 41 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Alkermes PLC by 0.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,104 shares of the company’s stock worth $415,000 after acquiring an additional 42 shares during the period. World Asset Management Inc lifted its stake in shares of Alkermes PLC by 1.9% in the 2nd quarter. World Asset Management Inc now owns 6,939 shares of the company’s stock worth $402,000 after acquiring an additional 128 shares during the period. Capstone Asset Management Co. lifted its stake in shares of Alkermes PLC by 2.6% in the 2nd quarter. Capstone Asset Management Co. now owns 6,755 shares of the company’s stock worth $392,000 after acquiring an additional 170 shares during the period. Finally, M&T Bank Corp lifted its stake in shares of Alkermes PLC by 2.9% in the 2nd quarter. M&T Bank Corp now owns 7,135 shares of the company’s stock worth $413,000 after acquiring an additional 200 shares during the period. 98.74% of the stock is owned by institutional investors.

About Alkermes PLC

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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