Alkermes PLC (NASDAQ:ALKS) had its price objective lifted by Citigroup Inc. from $44.00 to $53.00 in a research note issued to investors on Tuesday morning. They currently have a neutral rating on the stock.
Several other research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Alkermes PLC from a buy rating to a hold rating in a research report on Tuesday. Barclays PLC reissued a buy rating and issued a $65.00 price target (up previously from $50.00) on shares of Alkermes PLC in a research report on Tuesday, July 12th. Leerink Swann reissued an outperform rating and issued a $54.00 price target (down previously from $58.00) on shares of Alkermes PLC in a research report on Tuesday, June 28th. JPMorgan Chase & Co. reissued a hold rating and issued a $51.00 price target on shares of Alkermes PLC in a research report on Friday, July 29th. Finally, Cowen and Company reaffirmed a buy rating on shares of Alkermes PLC in a report on Friday, September 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $55.60.
Shares of Alkermes PLC (NASDAQ:ALKS) opened at 49.79 on Tuesday. Alkermes PLC has a 12 month low of $27.14 and a 12 month high of $80.71. The stock’s 50 day moving average price is $46.86 and its 200-day moving average price is $43.10. The stock’s market capitalization is $7.55 billion.
Alkermes PLC (NASDAQ:ALKS) last posted its quarterly earnings results on Thursday, July 28th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.09. Alkermes PLC had a negative net margin of 41.19% and a negative return on equity of 14.18%. The firm earned $195.20 million during the quarter, compared to analyst estimates of $174.15 million. During the same quarter in the prior year, the business posted ($0.09) earnings per share. The company’s quarterly revenue was up 28.9% compared to the same quarter last year. Equities analysts forecast that Alkermes PLC will post ($0.12) earnings per share for the current fiscal year.
In other Alkermes PLC news, CMO Elliot Ehrich sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $50.83, for a total value of $254,150.00. Following the transaction, the chief marketing officer now directly owns 46,477 shares of the company’s stock, valued at $2,362,425.91. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Iain Michael Brown sold 29,976 shares of the firm’s stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $45.92, for a total transaction of $1,376,497.92. Following the completion of the transaction, the chief accounting officer now directly owns 25,696 shares in the company, valued at $1,179,960.32. The disclosure for this sale can be found here. 4.75% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in ALKS. LS Investment Advisors LLC boosted its position in shares of Alkermes PLC by 23.6% in the second quarter. LS Investment Advisors LLC now owns 2,846 shares of the company’s stock worth $123,000 after buying an additional 544 shares during the last quarter. Glenmede Trust Co. NA boosted its position in shares of Alkermes PLC by 2,458.1% in the second quarter. Glenmede Trust Co. NA now owns 3,300 shares of the company’s stock worth $142,000 after buying an additional 3,171 shares during the last quarter. Mn Services Vermogensbeheer B.V. boosted its position in shares of Alkermes PLC by 3.4% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 3,829 shares of the company’s stock worth $149,000 after buying an additional 127 shares during the last quarter. Strs Ohio boosted its position in shares of Alkermes PLC by 29.6% in the second quarter. Strs Ohio now owns 4,050 shares of the company’s stock worth $175,000 after buying an additional 925 shares during the last quarter. Finally, Independent Portfolio Consultants Inc. acquired a new position in shares of Alkermes PLC during the second quarter worth about $179,000. 95.13% of the stock is currently owned by hedge funds and other institutional investors.
Alkermes PLC Company Profile
Alkermes Public Limited Company is a biopharmaceutical company. The Company is engaged in researching, developing and commercializing, both with partners and on its own, pharmaceutical products that are designed to address medical needs of patients in therapeutic areas. The Company has a portfolio of approximately 20 products and a clinical pipeline of product candidates that address central nervous system (CNS) disorders, such as schizophrenia, depression, addiction and multiple sclerosis.
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