Barclays PLC downgraded shares of Alkermes PLC (NASDAQ:ALKS) from an overweight rating to an equal weight rating in a research report sent to investors on Monday, MarketBeat.com reports. They currently have $50.00 price objective on the stock, down from their prior price objective of $66.00.
Several other equities analysts also recently commented on ALKS. J P Morgan Chase & Co set a $78.00 price target on shares of Alkermes PLC and gave the company a buy rating in a research note on Saturday, July 1st. ValuEngine downgraded shares of Alkermes PLC from a hold rating to a sell rating in a research note on Thursday, July 27th. BidaskClub downgraded shares of Alkermes PLC from a hold rating to a sell rating in a research note on Monday, July 31st. Zacks Investment Research upgraded shares of Alkermes PLC from a sell rating to a hold rating in a research note on Wednesday, August 2nd. Finally, Jefferies Group LLC set a $69.00 price target on shares of Alkermes PLC and gave the company a buy rating in a research note on Friday, August 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $62.56.
Shares of Alkermes PLC (NASDAQ:ALKS) opened at 50.56 on Monday. Alkermes PLC has a 12 month low of $48.90 and a 12 month high of $63.40. The stock’s 50 day moving average is $51.19 and its 200 day moving average is $55.33. The firm’s market capitalization is $7.77 billion.
Alkermes PLC (NASDAQ:ALKS) last released its quarterly earnings results on Thursday, July 27th. The company reported $0.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. Alkermes PLC had a negative net margin of 24.33% and a negative return on equity of 9.12%. The business had revenue of $218.80 million for the quarter, compared to the consensus estimate of $216.54 million. During the same period in the prior year, the company posted ($0.01) earnings per share. Alkermes PLC’s revenue was up 12.1% compared to the same quarter last year. Equities research analysts forecast that Alkermes PLC will post ($0.04) earnings per share for the current fiscal year.
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In other news, CAO Kathryn L. Biberstein sold 13,566 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $51.29, for a total value of $695,800.14. Following the sale, the chief accounting officer now directly owns 70,455 shares in the company, valued at approximately $3,613,636.95. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Paul J. Mitchell sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $50.77, for a total transaction of $76,155.00. Following the completion of the sale, the director now owns 9,500 shares in the company, valued at $482,315. The disclosure for this sale can be found here. Insiders have sold 18,066 shares of company stock worth $930,280 over the last quarter. Corporate insiders own 5.34% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of ALKS. Toronto Dominion Bank boosted its stake in shares of Alkermes PLC by 12.7% in the 2nd quarter. Toronto Dominion Bank now owns 1,875 shares of the company’s stock valued at $109,000 after purchasing an additional 212 shares in the last quarter. Daiwa SB Investments Ltd. acquired a new stake in shares of Alkermes PLC in the 2nd quarter valued at approximately $166,000. Greenwood Capital Associates LLC boosted its stake in shares of Alkermes PLC by 1.1% in the 2nd quarter. Greenwood Capital Associates LLC now owns 3,770 shares of the company’s stock valued at $219,000 after purchasing an additional 41 shares in the last quarter. US Bancorp DE boosted its stake in shares of Alkermes PLC by 366.4% in the 2nd quarter. US Bancorp DE now owns 3,974 shares of the company’s stock valued at $231,000 after purchasing an additional 3,122 shares in the last quarter. Finally, Insight Capital Research & Management Inc. acquired a new stake in shares of Alkermes PLC in the 2nd quarter valued at approximately $232,000. Institutional investors own 98.51% of the company’s stock.
Alkermes PLC Company Profile
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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