Alkermes (NASDAQ:ALKS) had its price target lifted by Morgan Stanley from $60.00 to $67.00 in a research report report published on Friday morning. The brokerage currently has an equal weight rating on the stock.
Other equities research analysts also recently issued research reports about the company. BidaskClub raised Alkermes from a sell rating to a hold rating in a research report on Friday, January 26th. Barclays set a $50.00 target price on Alkermes and gave the stock a hold rating in a research report on Thursday, October 26th. Credit Suisse Group upped their target price on Alkermes from $66.00 to $70.00 and gave the stock an outperform rating in a research report on Friday, February 16th. Citigroup set a $62.00 target price on Alkermes and gave the stock a hold rating in a research report on Thursday, February 15th. Finally, JPMorgan Chase & Co. set a $78.00 target price on Alkermes and gave the stock a buy rating in a research report on Friday, October 27th. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Alkermes has a consensus rating of Hold and an average price target of $64.58.
Shares of Alkermes (NASDAQ ALKS) traded up $2.05 during midday trading on Friday, hitting $58.60. The stock had a trading volume of 937,105 shares, compared to its average volume of 1,290,921. Alkermes has a 52 week low of $46.42 and a 52 week high of $71.22. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.78 and a quick ratio of 2.72. The stock has a market capitalization of $8,709.21, a P/E ratio of -56.89 and a beta of 1.94.
Alkermes (NASDAQ:ALKS) last issued its earnings results on Wednesday, February 14th. The company reported $0.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.32. Alkermes had a negative return on equity of 4.32% and a negative net margin of 17.48%. The company had revenue of $275.37 million during the quarter, compared to the consensus estimate of $251.23 million. During the same quarter in the prior year, the business earned $0.02 earnings per share. The company’s revenue was up 29.0% compared to the same quarter last year. sell-side analysts expect that Alkermes will post -0.8 earnings per share for the current fiscal year.
In related news, SVP Laurie Keating sold 6,249 shares of the stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $121.20, for a total value of $757,378.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP James M. Frates sold 20,932 shares of the stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $50.51, for a total value of $1,057,275.32. Following the completion of the transaction, the senior vice president now directly owns 164,971 shares of the company’s stock, valued at approximately $8,332,685.21. The disclosure for this sale can be found here. Insiders sold 146,365 shares of company stock valued at $8,994,542 in the last three months. 5.34% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of ALKS. Woodford Investment Management Ltd lifted its holdings in Alkermes by 3.4% during the 4th quarter. Woodford Investment Management Ltd now owns 7,585,683 shares of the company’s stock worth $310,628,000 after buying an additional 250,000 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Alkermes by 18.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,054,645 shares of the company’s stock worth $221,911,000 after buying an additional 628,299 shares during the last quarter. Thornburg Investment Management Inc. lifted its holdings in 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 during the last quarter. Janus Henderson Group PLC lifted its holdings in Alkermes by 13.7% during the 3rd quarter. Janus Henderson Group PLC now owns 2,650,006 shares of the company’s stock worth $134,726,000 after buying an additional 319,014 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Alkermes by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 1,333,429 shares of the company’s stock worth $72,934,000 after buying an additional 21,608 shares during the last quarter.
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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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