Alkermes PLC (NASDAQ:ALKS) Cut to “Sell” at ValuEngine

Alkermes PLC (NASDAQ:ALKS) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday, July 27th.

Other analysts have also recently issued reports about the stock. Jefferies Group LLC reissued a “buy” rating and issued a $70.00 price objective on shares of Alkermes PLC in a research note on Monday, April 3rd. J P Morgan Chase & Co set a $78.00 price objective on shares of Alkermes PLC and gave the stock a “buy” rating in a research note on Saturday, July 1st. Credit Suisse Group reissued a “buy” rating and issued a $70.00 price objective on shares of Alkermes PLC in a research note on Wednesday, June 7th. Cowen and Company reissued a “buy” rating on shares of Alkermes PLC in a research note on Friday, April 28th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $62.00 price objective on shares of Alkermes PLC in a research note on Monday, April 24th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $63.00.

Alkermes PLC (NASDAQ:ALKS) traded down 0.0298% on Thursday, reaching $51.5846. 295,898 shares of the company were exchanged. The firm’s market capitalization is $7.93 billion. The firm has a 50-day moving average of $56.35 and a 200 day moving average of $57.24. Alkermes PLC has a 12-month low of $41.93 and a 12-month high of $63.40.

Alkermes PLC (NASDAQ:ALKS) last released its quarterly earnings results on Thursday, July 27th. The company reported $0.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. The business had revenue of $218.80 million for the quarter, compared to the consensus estimate of $216.54 million. Alkermes PLC had a negative net margin of 24.33% and a negative return on equity of 9.12%. The company’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period last year, the firm earned ($0.01) earnings per share. On average, equities analysts predict that Alkermes PLC will post ($0.04) earnings per share for the current year.

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In related news, Director Paul J. Mitchell sold 1,500 shares of Alkermes PLC stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $54.91, for a total transaction of $82,365.00. Following the completion of the sale, the director now owns 9,500 shares in the company, valued at approximately $521,645. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Michael J. Landine sold 10,000 shares of Alkermes PLC stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $57.23, for a total transaction of $572,300.00. Following the sale, the senior vice president now owns 167,370 shares of the company’s stock, valued at approximately $9,578,585.10. The disclosure for this sale can be found here. Insiders have sold 49,500 shares of company stock valued at $2,866,865 in the last quarter. 5.34% of the stock is owned by company insiders.

Large investors have recently made changes to their positions in the stock. Decatur Capital Management Inc. bought a new stake in shares of Alkermes PLC during the first quarter worth $267,000. Russell Investments Group Ltd. raised its stake in shares of Alkermes PLC by 23.6% in the first quarter. Russell Investments Group Ltd. now owns 9,835 shares of the company’s stock worth $575,000 after buying an additional 1,877 shares during the last quarter. New Jersey Better Educational Savings Trust bought a new stake in shares of Alkermes PLC during the first quarter worth $410,000. First Quadrant L P CA bought a new stake in shares of Alkermes PLC during the first quarter worth $3,704,000. Finally, First Citizens Bank & Trust Co. bought a new stake in shares of Alkermes PLC during the first quarter worth $730,000. Institutional investors own 97.19% 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).

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Alkermes PLC (NASDAQ:ALKS)

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