Credit Suisse Group AG reissued their buy rating on shares of Alkermes Plc (NASDAQ:ALKS) in a research note published on Wednesday. Credit Suisse Group AG currently has a $70.00 price target on the stock.
Other research analysts also recently issued reports about the stock. ValuEngine raised shares of 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 set a $62.00 target price on shares of Alkermes Plc in a research report on Monday, April 24th. Jefferies Group LLC reissued a buy rating and set a $70.00 target price on shares of Alkermes Plc in a research report on Monday, April 3rd. Cantor Fitzgerald reaffirmed a neutral rating and issued a $51.00 price objective on shares of Alkermes Plc in a report on Thursday, March 16th. Finally, JPMorgan Chase & Co. set a $78.00 price objective on shares of Alkermes Plc and gave the stock a buy rating in a report on Thursday, April 27th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $64.00.
Shares of Alkermes Plc (NASDAQ ALKS) traded up 1.24% during trading on Wednesday, hitting $60.31. The stock had a trading volume of 717,097 shares. Alkermes Plc has a 1-year low of $39.65 and a 1-year high of $62.50. The company’s market capitalization is $9.24 billion. The firm has a 50-day moving average of $58.04 and a 200 day moving average of $57.11.
Alkermes Plc (NASDAQ:ALKS) last released its earnings results on Thursday, April 27th. The company reported ($0.31) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.24) by $0.07. Alkermes Plc had a negative net margin of 36.92% and a negative return on equity of 12.75%. The company had revenue of $191.80 million for the quarter, compared to the consensus estimate of $195.79 million. During the same period in the prior year, the company earned ($0.16) earnings per share. The firm’s revenue was up 22.3% on a year-over-year basis. Equities research analysts predict that Alkermes Plc will post ($0.04) earnings per share for the current fiscal year.
In other Alkermes Plc news, CMO Elliot Ehrich sold 11,000 shares of Alkermes Plc stock in a transaction dated Wednesday, March 15th. The shares were sold at an average price of $56.74, for a total value of $624,140.00. Following the completion of the transaction, the chief marketing officer now directly owns 66,071 shares of the company’s stock, valued at $3,748,868.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard F. Pops sold 50,000 shares of Alkermes Plc stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $58.19, for a total transaction of $2,909,500.00. Following the completion of the transaction, the director now directly owns 680,406 shares of the company’s stock, valued at $39,592,825.14. The disclosure for this sale can be found here. Insiders have sold a total of 175,800 shares of company stock worth $10,157,246 in the last ninety days. Insiders own 4.75% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Greenwood Capital Associates LLC bought a new position in Alkermes Plc during the fourth quarter valued at $202,000. Mn Services Vermogensbeheer B.V. raised its stake in shares of Alkermes Plc by 5.9% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 4,053 shares of the company’s stock valued at $222,000 after buying an additional 224 shares during the period. Achmea Investment Management B.V. acquired a new stake in shares of Alkermes Plc during the first quarter valued at about $247,000. Nomura Holdings Inc. acquired a new stake in shares of Alkermes Plc during the first quarter valued at about $266,000. Finally, Decatur Capital Management Inc. acquired a new stake in shares of Alkermes Plc during the first quarter valued at about $267,000. 95.52% 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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