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.
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).
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