Alkermes (NASDAQ:ALKS) had its target price lowered by Stifel Nicolaus from $44.00 to $40.00 in a research report sent to investors on Friday morning, The Fly reports. The firm currently has a hold rating on the stock.
Several other equities research analysts also recently issued reports on the company. Cowen restated a buy rating and set a $58.00 target price on shares of Alkermes in a research report on Tuesday. ValuEngine upgraded Alkermes from a sell rating to a hold rating in a research report on Friday, October 26th. Cantor Fitzgerald restated a hold rating and set a $46.00 target price on shares of Alkermes in a research report on Tuesday, October 23rd. Zacks Investment Research upgraded Alkermes from a hold rating to a buy rating and set a $48.00 target price on the stock in a research report on Wednesday, October 10th. Finally, BidaskClub upgraded Alkermes from a hold rating to a buy rating in a research report on Friday, September 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $53.64.
Shares of NASDAQ:ALKS traded down $3.09 during trading on Friday, hitting $37.74. 1,982,855 shares of the company were exchanged, compared to its average volume of 943,400. The company has a market cap of $5.86 billion, a P/E ratio of -102.00 and a beta of 1.61. Alkermes has a 52-week low of $37.01 and a 52-week high of $71.22. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.85 and a quick ratio of 2.56.
Alkermes (NASDAQ:ALKS) last posted its earnings results on Tuesday, October 23rd. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.15. The firm had revenue of $248.72 million for the quarter, compared to the consensus estimate of $236.70 million. Alkermes had a negative return on equity of 0.12% and a negative net margin of 13.23%. The business’s quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.03 earnings per share. On average, analysts expect that Alkermes will post -0.5 earnings per share for the current fiscal year.
In related news, Director Paul J. Mitchell sold 1,000 shares of the stock in a transaction on Monday, October 1st. The stock was sold at an average price of $42.42, for a total value of $42,420.00. Following the sale, the director now owns 8,000 shares in the company, valued at $339,360. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 3,000 shares of company stock worth $124,510 in the last quarter. 5.34% of the stock is currently owned by company insiders.
Several hedge funds have recently modified their holdings of the stock. Macquarie Group Ltd. raised its position in shares of Alkermes by 1.3% in the second quarter. Macquarie Group Ltd. now owns 88,242 shares of the company’s stock worth $3,631,000 after buying an additional 1,132 shares in the last quarter. Daiwa SB Investments Ltd. raised its position in Alkermes by 6.6% during the second quarter. Daiwa SB Investments Ltd. now owns 21,113 shares of the company’s stock valued at $869,000 after purchasing an additional 1,300 shares in the last quarter. Bank of Montreal Can raised its position in Alkermes by 7.9% during the third quarter. Bank of Montreal Can now owns 18,992 shares of the company’s stock valued at $807,000 after purchasing an additional 1,391 shares in the last quarter. United Services Automobile Association raised its position in Alkermes by 1.2% during the second quarter. United Services Automobile Association now owns 150,335 shares of the company’s stock valued at $6,188,000 after purchasing an additional 1,775 shares in the last quarter. Finally, Clarus Wealth Advisors raised its position in Alkermes by 46.2% during the third quarter. Clarus Wealth Advisors now owns 5,700 shares of the company’s stock valued at $242,000 after purchasing an additional 1,800 shares in the last quarter.
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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