Alkermes PLC (NASDAQ:ALKS) had its target price dropped by equities research analysts at Credit Suisse Group from $70.00 to $66.00 in a note issued to investors on Friday, October 27th. The brokerage currently has an “outperform” rating on the stock. Credit Suisse Group’s price target points to a potential upside of 38.39% from the stock’s previous close.
A number of other equities analysts have also recently issued reports on ALKS. J P Morgan Chase & Co set a $78.00 target price on Alkermes PLC and gave the stock a “buy” rating in a report on Saturday, July 1st. BidaskClub cut Alkermes PLC from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 9th. ValuEngine cut Alkermes PLC from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Barclays PLC cut Alkermes PLC from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $66.00 to $50.00 in a research note on Monday, October 16th. Finally, Jefferies Group LLC set a $69.00 price target on Alkermes PLC and gave the company a “buy” rating in a research note on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. Alkermes PLC has a consensus rating of “Hold” and an average price target of $63.55.
Alkermes PLC (ALKS) traded down $1.48 during trading hours on Friday, hitting $47.69. The stock had a trading volume of 1,157,600 shares, compared to its average volume of 832,980. The company has a quick ratio of 2.72, a current ratio of 3.05 and a debt-to-equity ratio of 0.23. Alkermes PLC has a 1 year low of $46.80 and a 1 year high of $63.40.
Alkermes PLC (NASDAQ:ALKS) last posted its quarterly earnings results on Thursday, October 26th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.04. Alkermes PLC had a negative return on equity of 7.27% and a negative net margin of 20.12%. The company had revenue of $217.40 million during the quarter, compared to analysts’ expectations of $231.29 million. During the same quarter in the previous year, the firm earned ($0.09) EPS. Alkermes PLC’s revenue was up 20.6% on a year-over-year basis. research analysts expect that Alkermes PLC will post -0.59 earnings per share for the current year.
In related news, CAO Kathryn L. Biberstein sold 13,566 shares of the stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $51.29, for a total transaction of $695,800.14. Following the completion of the sale, the chief accounting officer now directly owns 70,455 shares of the company’s stock, valued at $3,613,636.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard F. Pops sold 50,000 shares of the stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $48.87, for a total value of $2,443,500.00. The disclosure for this sale can be found here. Insiders sold 102,498 shares of company stock worth $5,018,010 in the last 90 days. Corporate insiders own 5.34% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Toronto Dominion Bank increased its position in Alkermes PLC by 12.7% in the second quarter. Toronto Dominion Bank now owns 1,875 shares of the company’s stock worth $109,000 after buying an additional 212 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Alkermes PLC in the third quarter worth $126,000. Daiwa SB Investments Ltd. purchased a new stake in Alkermes PLC in the second quarter worth $166,000. Virtu Financial LLC purchased a new stake in Alkermes PLC in the third quarter worth $201,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Alkermes PLC in the third quarter worth $214,000. 98.11% of the stock is owned by institutional investors and hedge funds.
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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