Alkermes PLC (NASDAQ:ALKS) has received an average rating of “Hold” from the twelve analysts that are currently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $63.88.
Several research analysts have commented on the company. Leerink Swann lowered Alkermes PLC from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $68.00 to $61.00 in a research report on Tuesday, June 13th. ValuEngine raised Alkermes PLC from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Morgan Stanley reissued an “equal weight” rating and issued a $62.00 price objective on shares of Alkermes PLC in a research report on Monday, April 24th. Credit Suisse Group reissued a “buy” rating and issued a $70.00 price objective on shares of Alkermes PLC in a research report on Wednesday, June 7th. Finally, Cowen and Company reissued a “buy” rating on shares of Alkermes PLC in a research report on Friday, April 28th.
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Alkermes PLC (NASDAQ:ALKS) opened at 58.68 on Friday. Alkermes PLC has a 1-year low of $39.65 and a 1-year high of $63.40. The firm’s market capitalization is $8.99 billion. The company’s 50-day moving average price is $58.54 and its 200 day moving average price is $57.19.
Alkermes PLC (NASDAQ:ALKS) last released its quarterly earnings data on Thursday, April 27th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.24) by $0.07. Alkermes PLC had a negative net margin of 25.61% and a negative return on equity of 9.76%. The company had revenue of $191.80 million during the quarter, compared to analysts’ expectations of $195.79 million. During the same period last year, the business earned ($0.16) earnings per share. The company’s revenue for the quarter was up 22.3% compared to the same quarter last year. On average, equities analysts anticipate that Alkermes PLC will post ($0.04) EPS for the current year.
In other news, insider Shane Cooke sold 2,070 shares of the firm’s stock in a transaction dated Wednesday, March 29th. The stock was sold at an average price of $60.00, for a total transaction of $124,200.00. Following the completion of the sale, the insider now directly owns 72,148 shares in the company, valued at $4,328,880. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul J. Mitchell sold 1,500 shares of the firm’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $58.31, for a total value of $87,465.00. Following the sale, the director now owns 9,500 shares of the company’s stock, valued at $553,945. The disclosure for this sale can be found here. Insiders have sold 166,570 shares of company stock valued at $9,642,375 over the last 90 days. Insiders own 5.34% of the company’s stock.
Several hedge funds have recently made changes to their positions in ALKS. Creative Planning increased its position in Alkermes PLC by 16.2% in the first quarter. Creative Planning now owns 18,012 shares of the company’s stock worth $1,054,000 after buying an additional 2,510 shares during the period. Norges Bank purchased a new position in Alkermes PLC during the fourth quarter worth approximately $44,274,000. Sei Investments Co. increased its position in Alkermes PLC by 32.6% in the first quarter. Sei Investments Co. now owns 90,325 shares of the company’s stock worth $5,284,000 after buying an additional 22,228 shares during the period. FMR LLC increased its position in Alkermes PLC by 0.4% in the first quarter. FMR LLC now owns 22,882,118 shares of the company’s stock worth $1,338,604,000 after buying an additional 86,546 shares during the period. Finally, Capstone Asset Management Co. increased its position in Alkermes PLC by 8.0% in the first quarter. Capstone Asset Management Co. now owns 6,585 shares of the company’s stock worth $385,000 after buying an additional 490 shares during the period. Institutional investors own 97.75% of the company’s stock.
About Alkermes PLC
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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