Alkermes PLC (ALKS) Coverage Initiated at Leerink Swann
Equities researchers at Leerink Swann assumed coverage on shares of Alkermes PLC (NASDAQ:ALKS) in a research report issued to clients and investors on Tuesday. The firm set an “outperform” rating on the stock.
Several other equities research analysts have also weighed in on the stock. Citigroup Inc. upped their target price on shares of Alkermes PLC from $44.00 to $53.00 and gave the stock a “neutral” rating in a report on Tuesday, September 27th. Zacks Investment Research lowered shares of Alkermes PLC from a “buy” rating to a “hold” rating in a report on Tuesday, September 27th. Barclays PLC reissued a “buy” rating and set a $65.00 price objective (up previously from $50.00) on shares of Alkermes PLC in a report on Tuesday, July 12th. JPMorgan Chase & Co. reissued a “hold” rating and set a $51.00 price objective on shares of Alkermes PLC in a report on Friday, July 29th. Finally, Cowen and Company reissued a “buy” rating on shares of Alkermes PLC in a report on Friday, September 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $55.60.
Shares of Alkermes PLC (NASDAQ:ALKS) opened at 46.94 on Tuesday. Alkermes PLC has a 12-month low of $27.14 and a 12-month high of $80.71. The company has a 50 day moving average of $46.93 and a 200-day moving average of $43.59. The company’s market capitalization is $7.11 billion.
Alkermes PLC (NASDAQ:ALKS) last posted its earnings results on Thursday, July 28th. The company reported ($0.01) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 business had revenue of $195.20 million for the quarter, compared to analyst estimates of $174.15 million. During the same quarter in the prior year, the firm earned ($0.09) EPS. The firm’s quarterly revenue was up 28.9% compared to the same quarter last year. On average, equities analysts anticipate that Alkermes PLC will post ($0.12) EPS for the current fiscal year.
In related news, CMO Elliot Ehrich sold 35,199 shares of the stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $51.95, for a total value of $1,828,588.05. Following the sale, the chief marketing officer now directly owns 46,111 shares in the company, valued at approximately $2,395,466.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul J. Mitchell sold 2,000 shares of the stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $45.92, for a total transaction of $91,840.00. Following the completion of the sale, the director now owns 10,000 shares in the company, valued at $459,200. The disclosure for this sale can be found here. Company insiders own 4.75% of the company’s stock.
Several hedge funds have recently made changes to their positions in ALKS. Teachers Advisors Inc. increased its stake in shares of Alkermes PLC by 0.5% in the first quarter. Teachers Advisors Inc. now owns 120,176 shares of the company’s stock worth $4,109,000 after buying an additional 554 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Alkermes PLC by 149.4% in the first quarter. Franklin Resources Inc. now owns 4,230,000 shares of the company’s stock worth $144,624,000 after buying an additional 2,534,197 shares in the last quarter. BlackRock Fund Advisors increased its stake in shares of Alkermes PLC by 5.1% in the first quarter. BlackRock Fund Advisors now owns 3,373,609 shares of the company’s stock worth $115,344,000 after buying an additional 164,120 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Alkermes PLC by 81.3% in the first quarter. JPMorgan Chase & Co. now owns 249,649 shares of the company’s stock worth $8,536,000 after buying an additional 111,961 shares in the last quarter. Finally, Spark Investment Management LLC purchased a new stake in shares of Alkermes PLC during the first quarter worth $902,000. Institutional investors and hedge funds own 95.13% of the company’s stock.
About Alkermes PLC
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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