Alkermes (NASDAQ:ALKS) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a note issued to investors on Friday, December 1st.
A number of other equities research analysts also recently weighed in on the company. Credit Suisse Group set a $66.00 target price on Alkermes and gave the stock a “buy” rating in a research report on Tuesday, November 28th. J P Morgan Chase & Co set a $78.00 price target on Alkermes and gave the company a “buy” rating in a report on Friday, October 27th. UBS set a $54.00 price target on Alkermes and gave the company a “hold” rating in a report on Friday, October 27th. Barclays set a $50.00 price target on Alkermes and gave the company a “hold” rating in a report on Thursday, October 26th. Finally, Citigroup set a $62.00 target price on shares of Alkermes and gave the company a “hold” rating in a research note on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $63.55.
Alkermes (NASDAQ:ALKS) opened at $52.15 on Friday. The company has a quick ratio of 2.72, a current ratio of 3.05 and a debt-to-equity ratio of 0.23. Alkermes has a 52 week low of $46.42 and a 52 week high of $63.40.
Alkermes (NASDAQ:ALKS) last issued its quarterly earnings data on Thursday, October 26th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.04. The business had revenue of $217.40 million during 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 business’s revenue was up 20.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.09) earnings per share. analysts anticipate that Alkermes will post -0.59 EPS for the current fiscal year.
In other news, SVP James M. Frates sold 20,932 shares of the company’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $50.51, for a total transaction of $1,057,275.32. Following the completion of the transaction, the senior vice president now owns 164,971 shares of the company’s stock, valued at $8,332,685.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul J. Mitchell sold 1,000 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $51.98, for a total transaction of $51,980.00. Following the transaction, the director now directly owns 9,000 shares of the company’s stock, valued at approximately $467,820. The disclosure for this sale can be found here. Insiders sold 109,364 shares of company stock valued at $5,355,310 over the last quarter. 5.34% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. AXA acquired a new position in Alkermes in the third quarter worth about $8,487,000. California Public Employees Retirement System raised its position in Alkermes by 2.0% in the third quarter. California Public Employees Retirement System now owns 234,300 shares of the company’s stock worth $11,912,000 after purchasing an additional 4,500 shares in the last quarter. Virtu Financial LLC acquired a new position in Alkermes in the third quarter worth about $201,000. Cubist Systematic Strategies LLC raised its position in Alkermes by 9,248.2% in the third quarter. Cubist Systematic Strategies LLC now owns 12,807 shares of the company’s stock worth $651,000 after purchasing an additional 12,670 shares in the last quarter. Finally, Highbridge Capital Management LLC acquired a new position in Alkermes in the third quarter worth about $284,000. 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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