Alkermes PLC (NASDAQ:ALKS) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Monday, July 31st.
Several other research analysts also recently weighed in on the stock. J P Morgan Chase & Co set a $78.00 price target on shares of Alkermes PLC and gave the stock a “buy” rating in a research report on Thursday, April 27th. Credit Suisse Group reissued a “buy” rating and issued a $70.00 price objective on shares of Alkermes PLC in a research note on Wednesday, June 7th. Jefferies Group LLC reissued a “buy” rating and issued a $70.00 price objective on shares of Alkermes PLC in a research note on Monday, April 3rd. Leerink Swann cut shares of Alkermes PLC from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $68.00 to $61.00 in a research note on Tuesday, June 13th. Finally, Cowen and Company reaffirmed a “buy” rating on shares of Alkermes PLC in a research note on Friday, April 28th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. Alkermes PLC currently has a consensus rating of “Hold” and a consensus price target of $63.00.
Shares of Alkermes PLC (ALKS) traded up 0.48% on Monday, hitting $51.91. The stock had a trading volume of 530,353 shares. The company’s market capitalization is $7.98 billion. Alkermes PLC has a 1-year low of $41.93 and a 1-year high of $63.40. The firm has a 50-day moving average of $56.73 and a 200 day moving average of $57.26.
Alkermes PLC (NASDAQ:ALKS) last issued its quarterly earnings data on Thursday, July 27th. The company reported $0.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.02. The company had revenue of $218.80 million for the quarter, compared to the consensus estimate of $216.54 million. Alkermes PLC had a negative net margin of 24.33% and a negative return on equity of 9.12%. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.01) earnings per share. On average, equities analysts anticipate that Alkermes PLC will post ($0.04) earnings per share for the current fiscal year.
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In related news, Director Paul J. Mitchell sold 1,500 shares of Alkermes PLC stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $54.91, for a total transaction of $82,365.00. Following the completion of the sale, the director now owns 9,500 shares in the company, valued at approximately $521,645. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Michael J. Landine sold 10,000 shares of Alkermes PLC stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $57.23, for a total transaction of $572,300.00. Following the sale, the senior vice president now owns 167,370 shares of the company’s stock, valued at approximately $9,578,585.10. The disclosure for this sale can be found here. Insiders sold a total of 99,500 shares of company stock valued at $5,776,365 in the last 90 days. Company insiders own 5.34% of the company’s stock.
Several large investors have recently bought and sold shares of ALKS. BlackRock Inc. raised its stake in Alkermes PLC by 5,927.5% in the first quarter. BlackRock Inc. now owns 10,292,601 shares of the company’s stock valued at $602,115,000 after buying an additional 10,121,839 shares in the last quarter. Primecap Management Co. CA raised its stake in Alkermes PLC by 23.2% in the first quarter. Primecap Management Co. CA now owns 7,856,543 shares of the company’s stock valued at $459,608,000 after buying an additional 1,480,273 shares in the last quarter. Janus Capital Management LLC raised its stake in Alkermes PLC by 220.0% in the first quarter. Janus Capital Management LLC now owns 1,658,928 shares of the company’s stock valued at $97,045,000 after buying an additional 1,140,555 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Alkermes PLC by 40.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,857,077 shares of the company’s stock valued at $167,138,000 after buying an additional 820,355 shares in the last quarter. Finally, Fiera Capital Corp acquired a new stake in Alkermes PLC during the second quarter valued at approximately $37,717,000. Institutional investors and hedge funds own 97.41% of the company’s stock.
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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