Alkermes (NASDAQ:ALKS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday, January 8th. The brokerage currently has a $61.00 price objective on the stock. Zacks Investment Research‘s price target indicates a potential upside of 4.58% from the stock’s current price.
According to Zacks, “Alkermes' Vivitrol and Aristada are primary growth drivers. 2018 is expected to be a transformative year for Alkermes’ development pipeline, with key events being- FDA review of the ALKS 5461 new drug application (NDA) for treatment of major depressive disorder, the phase III data readout for ALKS 3831 in schizophrenia, submission of the ALKS 8700 NDA and phase I data read-out for ALKS 4230. However, Alkermes is highly dependent on manufacturing and/or royalty revenues on sales of products that are commercialized by the company’s partners. Given its history of pipeline setbacks, any obstacle in the process of development of the candidates could weigh heavily on the stock. Moreover, Alkermes’ shares have underperformed the industry year to date. Estimates have remained stable ahead of the Q4 earnings results.”
Other analysts have also recently issued reports about the company. Barclays set a $50.00 price objective on Alkermes and gave the company a “hold” rating in a research report on Thursday, October 26th. ValuEngine cut Alkermes from a “hold” rating to a “sell” rating in a research report on Monday, October 23rd. JPMorgan Chase & Co. set a $78.00 price objective on Alkermes and gave the company a “buy” rating in a research report on Friday, October 27th. BidaskClub upgraded Alkermes from a “sell” rating to a “hold” rating in a research report on Wednesday, December 27th. Finally, Citigroup set a $62.00 price objective on Alkermes and gave the company a “hold” rating in a research report on Thursday, October 26th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $63.33.
Shares of Alkermes (NASDAQ:ALKS) traded up $1.16 during trading hours on Monday, reaching $58.33. The company’s stock had a trading volume of 714,368 shares, compared to its average volume of 781,079. Alkermes has a one year low of $46.42 and a one year high of $63.40. The firm has a market capitalization of $8,970.00, a P/E ratio of -52.55 and a beta of 2.13. 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 announced its quarterly earnings results on Thursday, October 26th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.04. The company 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%. Alkermes’s revenue for the quarter was up 20.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.09) earnings per share. equities research analysts anticipate that Alkermes will post -0.59 EPS for the current year.
In other Alkermes news, Director Paul J. Mitchell sold 1,000 shares of the company’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $51.98, for a total value of $51,980.00. Following the completion of the sale, the director now directly owns 9,000 shares in the company, valued at approximately $467,820. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP James M. Frates sold 20,932 shares of the company’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $47.58, for a total value of $995,944.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 82,624 shares of company stock valued at $4,759,060. 5.34% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the business. Toronto Dominion Bank lifted its stake in shares of Alkermes by 12.7% in the 2nd quarter. Toronto Dominion Bank now owns 1,875 shares of the company’s stock valued at $109,000 after purchasing an additional 212 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Alkermes in the 4th quarter valued at $114,000. Quantbot Technologies LP acquired a new position in shares of Alkermes in the 3rd quarter valued at $126,000. Virtu Financial LLC acquired a new position in shares of Alkermes in the 3rd quarter valued at $201,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Alkermes in the 3rd quarter valued at $214,000. Institutional investors own 99.58% of the company’s stock.
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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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