“Story still mainly about fate of ALKS 5461. With NDA recently filed, management believes a potential FDA Adcom and regulatory action could occur by YE18. The hiring of an additional 200 sales reps in 2018 disclosed on the 4Q17 results call seems aggressive to us given uncertainty about approval (unless intended to portray confidence), though we are mindful that they could be shifted to Vivitrol/Aristada. We suppose, too, that the expansion could be done in a step- wise manner.”,” the firm’s analyst wrote.
A number of other analysts have also commented on ALKS. Citigroup set a $62.00 price target on shares of Alkermes and gave the company a hold rating in a research note on Thursday, February 15th. Credit Suisse Group set a $66.00 price target on shares of Alkermes and gave the company a buy rating in a research note on Wednesday, February 14th. Zacks Investment Research upgraded shares of Alkermes from a hold rating to a buy rating and set a $71.00 price target for the company in a research note on Monday, February 5th. JPMorgan Chase & Co. set a $78.00 price target on shares of Alkermes and gave the company a buy rating in a research note on Friday, October 27th. Finally, BidaskClub upgraded shares of Alkermes from a sell rating to a hold rating in a research note on Friday, January 26th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Alkermes presently has an average rating of Hold and an average price target of $64.42.
Alkermes (NASDAQ:ALKS) last announced its quarterly earnings results on Wednesday, February 14th. The company reported $0.31 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.32. The business had revenue of $275.37 million during the quarter, compared to analyst estimates of $251.23 million. Alkermes had a negative net margin of 17.48% and a negative return on equity of 4.32%. Alkermes’s quarterly revenue was up 29.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.02 EPS. analysts expect that Alkermes will post -1.03 earnings per share for the current fiscal year.
In other Alkermes news, insider Shane Cooke sold 72,793 shares of Alkermes stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $60.55, for a total transaction of $4,407,616.15. Following the transaction, the insider now directly owns 147,501 shares of the company’s stock, valued at approximately $8,931,185.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP James M. Frates sold 20,932 shares of Alkermes stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $50.51, for a total transaction of $1,057,275.32. Following the transaction, the senior vice president now directly owns 164,971 shares in the company, valued at $8,332,685.21. The disclosure for this sale can be found here. Insiders have sold a total of 135,485 shares of company stock worth $8,227,502 over the last ninety days. Insiders own 5.34% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Bailard Inc. purchased a new position in Alkermes during the 4th quarter worth $274,000. First Trust Advisors LP boosted its holdings in Alkermes by 18.6% during the 4th quarter. First Trust Advisors LP now owns 800,752 shares of the company’s stock worth $43,825,000 after acquiring an additional 125,309 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Alkermes by 13.7% during the 3rd quarter. Janus Henderson Group PLC now owns 2,650,006 shares of the company’s stock worth $134,726,000 after acquiring an additional 319,014 shares during the last quarter. AMP Capital Investors Ltd boosted its holdings in shares of Alkermes by 11.0% in the 3rd quarter. AMP Capital Investors Ltd now owns 53,745 shares of the company’s stock worth $2,732,000 after buying an additional 5,306 shares during the last quarter. Finally, Highbridge Capital Management LLC purchased a new position in shares of Alkermes in the 3rd quarter worth about $284,000.
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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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