BidaskClub downgraded shares of Alkermes (NASDAQ:ALKS) from a buy rating to a hold rating in a research report released on Friday morning.
Other equities research analysts have also recently issued reports about the stock. Cowen restated a buy rating and set a $58.00 price objective on shares of Alkermes in a research note on Tuesday, October 30th. Zacks Investment Research raised Alkermes from a hold rating to a buy rating and set a $48.00 target price on the stock in a report on Wednesday, October 10th. JPMorgan Chase & Co. reaffirmed a buy rating on shares of Alkermes in a report on Thursday, January 10th. Stifel Nicolaus lowered their target price on Alkermes from $44.00 to $40.00 and set a hold rating on the stock in a report on Friday, November 2nd. Finally, ValuEngine raised Alkermes from a sell rating to a hold rating in a report on Friday, October 26th. Five analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. The company presently has an average rating of Hold and an average target price of $46.79.
Shares of NASDAQ ALKS opened at $34.07 on Friday. Alkermes has a fifty-two week low of $27.54 and a fifty-two week high of $71.22. The company has a current ratio of 2.85, a quick ratio of 2.56 and a debt-to-equity ratio of 0.24. The stock has a market cap of $5.29 billion, a P/E ratio of -92.08 and a beta of 1.62.
In related news, Director David W. Anstice sold 8,787 shares of Alkermes stock in a transaction dated Wednesday, December 12th. The stock was sold at an average price of $35.59, for a total value of $312,729.33. Following the transaction, the director now owns 70,000 shares of the company’s stock, valued at approximately $2,491,300. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul J. Mitchell sold 1,000 shares of Alkermes stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $37.51, for a total value of $37,510.00. Following the completion of the transaction, the director now directly owns 8,000 shares in the company, valued at approximately $300,080. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,787 shares of company stock worth $416,689. 5.51% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of ALKS. Dimensional Fund Advisors LP increased its stake in Alkermes by 2.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 216,557 shares of the company’s stock worth $8,913,000 after purchasing an additional 4,282 shares in the last quarter. Voya Investment Management LLC increased its stake in Alkermes by 5.7% in the 2nd quarter. Voya Investment Management LLC now owns 97,327 shares of the company’s stock worth $4,006,000 after purchasing an additional 5,216 shares in the last quarter. Northern Trust Corp increased its stake in Alkermes by 3.0% in the 2nd quarter. Northern Trust Corp now owns 876,000 shares of the company’s stock worth $36,056,000 after purchasing an additional 25,526 shares in the last quarter. Royal London Asset Management Ltd. purchased a new position in Alkermes in the 2nd quarter worth about $2,619,000. Finally, United Services Automobile Association increased its stake in Alkermes by 1.2% in the 2nd quarter. United Services Automobile Association now owns 150,335 shares of the company’s stock worth $6,188,000 after purchasing an additional 1,775 shares in the last quarter.
Alkermes Company Profile
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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