Alkermes (ALKS) Shares Up 5.7%

Alkermes Plc (NASDAQ:ALKS) shot up 5.7% on Tuesday . The company traded as high as $56.80 and last traded at $56.64. 953,248 shares changed hands during mid-day trading, an increase of 26% from the average session volume of 755,225 shares. The stock had previously closed at $53.61.

A number of research firms have commented on ALKS. Zacks Investment Research raised shares of Alkermes from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research note on Monday. BidaskClub raised shares of Alkermes from a “sell” rating to a “hold” rating in a research note on Wednesday, December 27th. ValuEngine raised shares of Alkermes from a “sell” rating to a “hold” rating in a research note on Friday, December 1st. Credit Suisse Group set a $66.00 price objective on shares of Alkermes and gave the company a “buy” rating in a research note on Tuesday, November 28th. Finally, JPMorgan Chase & Co. set a $78.00 price objective on shares of Alkermes and gave the company a “buy” rating in a research note on Friday, October 27th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $63.33.

The company has a market capitalization of $8,710.00, a price-to-earnings ratio of -51.03 and a beta of 2.13. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.72 and a current ratio of 3.05.

Alkermes (NASDAQ:ALKS) last issued its earnings results 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. The company had revenue of $217.40 million for the quarter, compared to the consensus estimate of $231.29 million. Alkermes had a negative return on equity of 7.27% and a negative net margin of 20.12%. The firm’s quarterly revenue was up 20.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.09) EPS. analysts forecast that Alkermes Plc will post -0.59 earnings per share for the current year.

In other news, SVP James M. Frates sold 20,932 shares of the company’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $47.58, for a total value of $995,944.56. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Richard F. Pops sold 50,000 shares of the stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $48.87, for a total value of $2,443,500.00. The disclosure for this sale can be found here. Insiders sold a total of 136,417 shares of company stock worth $7,259,391 in the last quarter. 5.34% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in ALKS. Janus Henderson Group PLC increased its holdings in Alkermes by 13,784.0% in the second quarter. Janus Henderson Group PLC now owns 2,330,992 shares of the company’s stock worth $135,128,000 after buying an additional 2,314,203 shares during the last quarter. Thornburg Investment Management Inc. increased its holdings in Alkermes by 39.8% in the third quarter. Thornburg Investment Management Inc. now owns 2,779,364 shares of the company’s stock worth $141,303,000 after buying an additional 790,692 shares during the last quarter. Fiera Capital Corp acquired a new position in Alkermes in the second quarter worth approximately $37,717,000. Vanguard Group Inc. increased its holdings in Alkermes by 3.7% in the second quarter. Vanguard Group Inc. now owns 12,546,198 shares of the company’s stock worth $727,303,000 after buying an additional 449,563 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its holdings in Alkermes by 6,353.1% in the third quarter. Asset Management One Co. Ltd. now owns 234,377 shares of the company’s stock worth $11,924,000 after buying an additional 230,745 shares during the last quarter. Hedge funds and other institutional investors own 99.17% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Alkermes (ALKS) Shares Up 5.7%” was first posted by Community Financial News and is the property of of Community Financial News. If you are accessing this piece of content on another domain, it was stolen and reposted in violation of United States and international trademark & copyright law. The legal version of this piece of content can be read at https://www.com-unik.info/2018/01/10/alkermes-alks-shares-up-5-7.html.

About Alkermes

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).

Receive News & Ratings for Alkermes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alkermes and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit