Alkermes (ALKS) Raised to Hold at ValuEngine

ValuEngine upgraded shares of Alkermes (NASDAQ:ALKS) from a sell rating to a hold rating in a research report sent to investors on Friday morning.

Several other research firms also recently issued reports on ALKS. Credit Suisse Group cut their price objective on Alkermes from $70.00 to $66.00 and set an outperform rating on the stock in a report on Friday, October 27th. Barclays set a $50.00 target price on Alkermes and gave the stock a hold rating in a research note on Thursday, October 26th. Citigroup set a $62.00 target price on Alkermes and gave the stock a hold rating in a research note on Thursday, October 26th. BidaskClub cut Alkermes from a sell rating to a strong sell rating in a research note on Wednesday, August 9th. Finally, Mizuho set a $81.00 target price on Alkermes and gave the stock a buy rating in a research note on Saturday, October 21st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $63.55.

Shares of Alkermes (NASDAQ ALKS) opened at $53.70 on Friday. Alkermes has a 1 year low of $46.42 and a 1 year high of $63.40. 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 (NASDAQ:ALKS) last posted its quarterly earnings data on Thursday, October 26th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.04. The firm 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 company’s quarterly revenue was up 20.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.09) EPS. equities analysts predict that Alkermes will post -0.59 EPS for the current year.

In other Alkermes news, Director Richard F. Pops sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $48.87, for a total transaction of $2,443,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Kathryn L. Biberstein sold 13,566 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $51.29, for a total value of $695,800.14. Following the sale, the chief accounting officer now directly owns 70,455 shares of the company’s stock, valued at $3,613,636.95. The disclosure for this sale can be found here. Over the last three months, insiders sold 122,930 shares of company stock valued at $6,051,110. Insiders own 5.34% of the company’s stock.

Several hedge funds have recently modified their holdings of ALKS. Janus Henderson Group PLC raised its stake in shares of Alkermes by 13,784.0% during the 2nd 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 in the last quarter. Thornburg Investment Management Inc. raised its stake in shares of Alkermes by 39.8% during the 3rd 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 in the last quarter. Fiera Capital Corp purchased a new position in shares of Alkermes during the 2nd quarter worth approximately $37,717,000. Vanguard Group Inc. raised its stake in shares of Alkermes 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 buying an additional 449,563 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Alkermes 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 buying an additional 267,742 shares in the last quarter. 99.69% of the stock is owned by institutional investors and hedge funds.

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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).

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Alkermes (NASDAQ:ALKS)

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