Alkermes Plc (ALKS) Receives Average Rating of “Hold” from Analysts

Alkermes Plc (NASDAQ:ALKS) has received an average rating of “Hold” from the seventeen ratings firms that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $56.10.

Several analysts recently commented on ALKS shares. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Alkermes in a report on Monday, July 2nd. BidaskClub raised shares of Alkermes from a “hold” rating to a “buy” rating in a report on Wednesday, June 13th. B. Riley started coverage on shares of Alkermes in a report on Wednesday, June 6th. They set a “buy” rating and a $60.00 target price for the company. Citigroup raised shares of Alkermes from a “neutral” rating to a “buy” rating in a report on Thursday, May 31st. Finally, Zacks Investment Research raised shares of Alkermes from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a report on Wednesday, May 30th.

Shares of ALKS stock traded down $0.04 during midday trading on Friday, hitting $39.66. 488,303 shares of the company were exchanged, compared to its average volume of 463,429. The company has a market capitalization of $6.19 billion, a price-to-earnings ratio of -107.19 and a beta of 1.72. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.62 and a current ratio of 2.92. Alkermes has a 52 week low of $39.40 and a 52 week high of $71.22.

Alkermes (NASDAQ:ALKS) last announced its earnings results on Thursday, July 26th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of ($0.11) by $0.40. The business had revenue of $304.64 million during the quarter, compared to the consensus estimate of $261.58 million. Alkermes had a negative net margin of 13.81% and a negative return on equity of 0.29%. Alkermes’s revenue was up 39.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.01 EPS. sell-side analysts forecast that Alkermes will post -0.67 EPS for the current year.

In other Alkermes news, Director Paul J. Mitchell sold 1,000 shares of Alkermes stock in a transaction dated Tuesday, July 3rd. The shares were sold at an average price of $41.86, for a total value of $41,860.00. Following the completion of the sale, the director now owns 8,000 shares in the company, valued at approximately $334,880. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Floyd E. Bloom sold 20,000 shares of Alkermes stock in a transaction dated Monday, July 16th. The stock was sold at an average price of $43.95, for a total transaction of $879,000.00. The disclosure for this sale can be found here. Insiders sold a total of 23,000 shares of company stock valued at $1,009,120 in the last quarter. Corporate insiders own 5.34% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Janus Henderson Group PLC raised its position in shares of Alkermes by 0.9% in the 2nd quarter. Janus Henderson Group PLC now owns 2,037,737 shares of the company’s stock valued at $83,873,000 after buying an additional 18,781 shares in the last quarter. First Trust Advisors LP raised its position in shares of Alkermes by 42.8% in the 2nd quarter. First Trust Advisors LP now owns 1,314,188 shares of the company’s stock valued at $54,092,000 after buying an additional 393,772 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Alkermes by 5.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 567,198 shares of the company’s stock valued at $23,346,000 after buying an additional 30,410 shares in the last quarter. Swiss National Bank raised its position in shares of Alkermes by 4.9% in the 2nd quarter. Swiss National Bank now owns 515,300 shares of the company’s stock valued at $21,210,000 after buying an additional 24,100 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its position in shares of Alkermes by 116.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 418,861 shares of the company’s stock valued at $17,240,000 after buying an additional 224,998 shares in the last quarter.

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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Analyst Recommendations for Alkermes (NASDAQ:ALKS)

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