Equities research analysts at Bank of America assumed coverage on shares of Alkermes (NASDAQ:ALKS) in a note issued to investors on Friday. The brokerage set a “buy” rating and a $56.00 price target on the stock. Bank of America’s target price would indicate a potential upside of 22.30% from the stock’s current price.
A number of other research analysts also recently commented on the stock. JPMorgan Chase set a $63.00 price target on shares of Alkermes and gave the company a “buy” rating in a report on Tuesday, April 3rd. Morgan Stanley reaffirmed an “equal weight” rating and issued a $67.00 price target (up previously from $60.00) on shares of Alkermes in a report on Friday, February 23rd. Credit Suisse Group raised their price objective on shares of Alkermes from $66.00 to $70.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. BidaskClub raised shares of Alkermes from a “hold” rating to a “buy” rating in a research note on Wednesday, March 28th. Finally, Citigroup set a $62.00 price objective on shares of Alkermes and gave the stock a “hold” rating in a research note on Thursday, February 15th. Two research analysts have 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 $59.15.
Shares of Alkermes opened at $45.79 on Friday, MarketBeat.com reports. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.83 and a quick ratio of 2.52. The company has a market cap of $6.93 billion, a PE ratio of -123.76 and a beta of 1.81.
Alkermes (NASDAQ:ALKS) last announced its quarterly earnings results on Thursday, April 26th. The company reported ($0.09) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.02). Alkermes had a negative net margin of 16.18% and a negative return on equity of 3.13%. The business had revenue of $225.20 million during the quarter, compared to the consensus estimate of $219.51 million. During the same period in the previous year, the business posted ($0.18) EPS. The firm’s revenue was up 17.4% on a year-over-year basis. research analysts expect that Alkermes will post -0.66 earnings per share for the current year.
In other news, Director Paul J. Mitchell sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $57.04, for a total transaction of $57,040.00. Following the transaction, the director now directly owns 9,000 shares of the company’s stock, valued at $513,360. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Mark Stejbach sold 10,880 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $70.50, for a total transaction of $767,040.00. Following the transaction, the senior vice president now directly owns 54,893 shares in the company, valued at $3,869,956.50. The disclosure for this sale can be found here. In the last three months, insiders sold 112,880 shares of company stock valued at $5,287,830. 5.34% of the stock is owned by insiders.
Several large investors have recently modified their holdings of ALKS. Dimensional Fund Advisors LP increased its position in shares of Alkermes by 1.0% during the third quarter. Dimensional Fund Advisors LP now owns 198,135 shares of the company’s stock worth $10,076,000 after acquiring an additional 2,027 shares during the period. Daiwa SB Investments Ltd. increased its position in shares of Alkermes by 116.0% during the fourth quarter. Daiwa SB Investments Ltd. now owns 6,189 shares of the company’s stock worth $339,000 after acquiring an additional 3,324 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Alkermes by 6.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 41,400 shares of the company’s stock worth $2,266,000 after acquiring an additional 2,400 shares during the period. Bank of Montreal Can increased its position in shares of Alkermes by 92.5% during the fourth quarter. Bank of Montreal Can now owns 13,194 shares of the company’s stock worth $723,000 after acquiring an additional 6,341 shares during the period. Finally, Sicart Associates LLC increased its position in shares of Alkermes by 92.3% during the fourth quarter. Sicart Associates LLC now owns 12,500 shares of the company’s stock worth $684,000 after acquiring an additional 6,000 shares during the period.
Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in various therapeutic areas in the United States, Ireland, and internationally. The company's marketed products include ARISTADA (aripiprazole lauroxil), an extended-release intramuscular injectable suspension for the treatment of schizophrenia; VIVITROL (naltrexone for extended-release injectable suspension) for the treatment of alcohol and opioid dependence; INVEGA SUSTENNA for the treatment of schizophrenia and schizoaffective disorder; XEPLION, INVEGA TRINZA, and TREVICTA for treating schizophrenia; RISPERDAL CONSTA for the treatment of schizophrenia and bipolar I disorder; AMPYRA (dalfampridine)/FAMPYRA (fampridine) to enhance walking in adults with multiple sclerosis (MS) who have walking disability; and BYDUREON (exenatide extended-release for injectable suspension) and BYDUREON BCise for the treatment of type 2 diabetes.
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