Research Analysts Offer Predictions for Alkermes PLC’s Q3 2016 Earnings (ALKS)
Alkermes PLC (NASDAQ:ALKS) – Stock analysts at Leerink Swann issued their Q3 2016 EPS estimates for Alkermes PLC in a research note issued on Tuesday. Leerink Swann analyst P. Matteis anticipates that the firm will post earnings per share of ($0.17) for the quarter. Leerink Swann currently has a “Outperform” rating and a $57.00 target price on the stock. Leerink Swann also issued estimates for Alkermes PLC’s Q4 2016 earnings at ($0.14) EPS, FY2016 earnings at ($0.79) EPS and FY2017 earnings at ($0.84) EPS.
A number of other equities research analysts have also commented on ALKS. Jefferies Group reiterated a “buy” rating on shares of Alkermes PLC in a report on Sunday, July 17th. Morgan Stanley reiterated a “sell” rating and set a $41.00 price target on shares of Alkermes PLC in a report on Friday, September 2nd. Cowen and Company restated a “buy” rating on shares of Alkermes PLC in a report on Friday, September 23rd. Barclays PLC upped their price objective on shares of Alkermes PLC from $50.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, July 13th. Finally, Zacks Investment Research upgraded shares of Alkermes PLC from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a report on Friday, August 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $55.90.
Alkermes PLC (NASDAQ:ALKS) opened at 45.71 on Friday. The stock’s market capitalization is $6.93 billion. The company’s 50-day moving average is $46.88 and its 200 day moving average is $43.84. Alkermes PLC has a 12-month low of $27.14 and a 12-month high of $80.71.
Alkermes PLC (NASDAQ:ALKS) last issued its quarterly earnings data on Thursday, July 28th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.09. The firm earned $195.20 million during the quarter, compared to analysts’ expectations of $174.15 million. Alkermes PLC had a negative net margin of 41.19% and a negative return on equity of 14.18%. The business’s revenue was up 28.9% on a year-over-year basis. During the same period last year, the company earned ($0.09) earnings per share.
In related news, Director Paul J. Mitchell sold 2,000 shares of the stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $49.48, for a total transaction of $98,960.00. Following the sale, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $494,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP David Joseph Gaffin sold 2,382 shares of the stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $45.92, for a total transaction of $109,381.44. Following the sale, the senior vice president now directly owns 22,816 shares in the company, valued at $1,047,710.72. The disclosure for this sale can be found here. Corporate insiders own 4.75% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. FMR LLC increased its stake in shares of Alkermes PLC by 0.3% in the second quarter. FMR LLC now owns 22,674,809 shares of the company’s stock valued at $980,005,000 after buying an additional 63,567 shares during the period. Wellington Management Group LLP increased its stake in shares of Alkermes PLC by 5.0% in the first quarter. Wellington Management Group LLP now owns 21,097,768 shares of the company’s stock valued at $721,333,000 after buying an additional 995,186 shares during the period. Vanguard Group Inc. increased its stake in shares of Alkermes PLC by 3.2% in the second quarter. Vanguard Group Inc. now owns 11,050,080 shares of the company’s stock valued at $477,585,000 after buying an additional 343,746 shares during the period. 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 valued at $144,624,000 after buying an additional 2,534,197 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its stake in shares of Alkermes PLC by 3.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 3,869,344 shares of the company’s stock valued at $167,233,000 after buying an additional 119,597 shares during the period. 95.13% of the stock is currently owned by institutional investors.
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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