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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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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