Alkermes PLC (NASDAQ:ALKS) received a $62.00 price objective from equities researchers at Citigroup Inc. in a research report issued to clients and investors on Thursday, October 26th. The firm presently has a “hold” rating on the stock. Citigroup Inc.’s price objective suggests a potential upside of 29.57% from the company’s previous close.
A number of other analysts have also recently issued reports on the company. ValuEngine cut Alkermes PLC from a “hold” rating to a “sell” rating in a research report on Monday, October 23rd. Mizuho set a $81.00 price target on Alkermes PLC and gave the company a “buy” rating in a research report on Saturday, October 21st. Barclays PLC lowered Alkermes PLC from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $66.00 to $50.00 in a research note on Monday, October 16th. Jefferies Group LLC set a $69.00 price objective on Alkermes PLC and gave the stock a “buy” rating in a research note on Friday, August 25th. Finally, BidaskClub lowered Alkermes PLC from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $63.55.
Alkermes PLC (NASDAQ ALKS) traded down $0.20 on Thursday, reaching $47.85. The company had a trading volume of 1,285,300 shares, compared to its average volume of 1,069,902. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.05 and a quick ratio of 2.72. Alkermes PLC has a 12-month low of $46.80 and a 12-month high of $63.40.
Alkermes PLC (NASDAQ:ALKS) last issued its quarterly earnings results on Thursday, October 26th. The company reported $0.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 PLC had a negative return on equity of 7.27% and a negative net margin of 20.12%. The company’s revenue for the quarter was up 20.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.09) EPS. equities analysts expect that Alkermes PLC will post -0.59 earnings per share for the current year.
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In other Alkermes PLC news, Director Paul J. Mitchell sold 1,500 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $50.77, for a total transaction of $76,155.00. Following the transaction, the director now owns 9,500 shares in the company, valued at approximately $482,315. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Richard F. Pops sold 50,000 shares of the firm’s stock in a transaction 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. Over the last ninety days, insiders sold 102,498 shares of company stock valued at $5,018,010. Insiders own 5.34% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of ALKS. Janus Henderson Group PLC increased its stake in shares of Alkermes PLC by 13,784.0% in the 2nd quarter. Janus Henderson Group PLC now owns 2,330,992 shares of the company’s stock valued at $135,128,000 after purchasing an additional 2,314,203 shares during the last quarter. Fiera Capital Corp bought a new position in shares of Alkermes PLC in the 2nd quarter valued at $37,717,000. Vanguard Group Inc. grew its position in Alkermes PLC by 3.7% during the 2nd quarter. Vanguard Group Inc. now owns 12,546,198 shares of the company’s stock worth $727,303,000 after acquiring an additional 449,563 shares during the last quarter. First Trust Advisors LP grew its position in Alkermes PLC by 37.6% during the 2nd quarter. First Trust Advisors LP now owns 979,813 shares of the company’s stock worth $56,800,000 after acquiring an additional 267,742 shares during the last quarter. Finally, State Street Corp grew its position in Alkermes PLC by 6.1% during the 1st quarter. State Street Corp now owns 3,974,002 shares of the company’s stock worth $232,480,000 after acquiring an additional 228,719 shares during the last quarter. Institutional investors own 98.19% of the company’s stock.
Alkermes PLC Company Profile
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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