Alkermes PLC (NASDAQ:ALKS) Receives $51.00 Consensus Price Target from Analysts
Alkermes PLC (NASDAQ:ALKS) has been assigned an average recommendation of “Hold” from the twelve ratings firms that are currently covering the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $52.63.
ALKS has been the topic of a number of research analyst reports. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Alkermes PLC in a research note on Thursday, June 2nd. Jefferies Group reiterated a “buy” rating on shares of Alkermes PLC in a report on Thursday, June 2nd. Leerink Swann reiterated an “outperform” rating and set a $54.00 price target (down previously from $58.00) on shares of Alkermes PLC in a report on Tuesday, June 28th. Barclays PLC reiterated a “buy” rating and set a $65.00 price target (up previously from $50.00) on shares of Alkermes PLC in a report on Tuesday, July 12th. Finally, JPMorgan Chase & Co. reiterated a “hold” rating and set a $51.00 price target on shares of Alkermes PLC in a report on Friday, July 29th.
In other Alkermes PLC news, CMO Elliot Ehrich sold 35,199 shares of the stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $51.95, for a total value of $1,828,588.05. Following the completion of the transaction, the chief marketing officer now owns 46,111 shares in the company, valued at $2,395,466.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Paul J. Mitchell sold 2,000 shares of the stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $49.48, for a total value of $98,960.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at approximately $494,800. The disclosure for this sale can be found here. 4.75% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of ALKS. LS Investment Advisors LLC raised its stake in Alkermes PLC by 23.6% in the second quarter. LS Investment Advisors LLC now owns 2,846 shares of the company’s stock worth $123,000 after buying an additional 544 shares during the last quarter. Glenmede Trust Co. NA raised its stake in shares of Alkermes PLC by 2,458.1% in the second quarter. Glenmede Trust Co. NA now owns 3,300 shares of the company’s stock worth $142,000 after buying an additional 3,171 shares during the last quarter. Mn Services Vermogensbeheer B.V. raised its stake in shares of Alkermes PLC by 3.4% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 3,829 shares of the company’s stock worth $149,000 after buying an additional 127 shares during the last quarter. Strs Ohio raised its stake in shares of Alkermes PLC by 29.6% in the second quarter. Strs Ohio now owns 4,050 shares of the company’s stock worth $175,000 after buying an additional 925 shares during the last quarter. Finally, Independent Portfolio Consultants Inc. acquired a new stake in shares of Alkermes PLC during the second quarter worth about $179,000. 95.13% of the stock is currently owned by institutional investors.
Alkermes PLC (NASDAQ:ALKS) opened at 48.81 on Monday. The stock’s 50 day moving average is $46.90 and its 200 day moving average is $43.14. The firm’s market cap is $7.40 billion. Alkermes PLC has a one year low of $27.14 and a one year high of $80.71.
Alkermes PLC (NASDAQ:ALKS) last posted its quarterly earnings results on Thursday, July 28th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.09. Alkermes PLC had a negative net margin of 41.19% and a negative return on equity of 14.18%. The company earned $195.20 million during the quarter, compared to analyst estimates of $174.15 million. Alkermes PLC’s revenue for the quarter was up 28.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.09) EPS. On average, analysts predict that Alkermes PLC will post ($0.12) earnings per share for the current fiscal year.
Alkermes PLC Company Profile
Alkermes Public Limited Company is a biopharmaceutical company. The Company is engaged in researching, developing and commercializing, both with partners and on its own, pharmaceutical products that are designed to address medical needs of patients in therapeutic areas. The Company has a portfolio of approximately 20 products and a clinical pipeline of product candidates that address central nervous system (CNS) disorders, such as schizophrenia, depression, addiction and multiple sclerosis.
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