Alkermes PLC (NASDAQ:ALKS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Friday.

According to Zacks, “Alkermes’ estimates have been moving down lately ahead of the company’s third-quarter 2016 earnings release. The company is highly dependent on manufacturing and/or royalty revenues on net sales of products that are commercialized by the company’s partners. Partnership-related setbacks may weigh heavily on the company and could have a material adverse effect on its top-line growth. Alkermes expects important data readouts across its pipeline over the next several quarters. Given its history of pipeline setbacks, any obstacle in the process of development of its pipeline candidates would weigh heavily on the stock. Stiff competition remains a threat as well. Meanwhile, Alkermes raised and updated its 2016 outlook on the back of the strong performance of Vivitrol in the second quarter of 2016. While Vivitrol should benefit from the newly passed legislation, CARA, gaining reimbursement and access for Aristada bodes well.”

A number of other equities analysts have also recently issued reports on the stock. Jefferies Group restated a “buy” rating on shares of Alkermes PLC in a research report on Sunday, July 17th. Morgan Stanley restated a “sell” rating and set a $41.00 target price on shares of Alkermes PLC in a research report on Friday, September 2nd. Cowen and Company restated a “buy” rating on shares of Alkermes PLC in a research report on Friday, September 23rd. Barclays PLC lifted their target price on shares of Alkermes PLC from $50.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 13th. Finally, JPMorgan Chase & Co. restated a “hold” rating and set a $51.00 target price on shares of Alkermes PLC in a research report on Friday, July 29th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. Alkermes PLC has an average rating of “Hold” and a consensus target price of $55.90.

Analyst Recommendations for Alkermes PLC (NASDAQ:ALKS)

Alkermes PLC (NASDAQ:ALKS) traded down 2.37% during trading on Friday, hitting $42.83. 457,700 shares of the company were exchanged. The company has a 50-day moving average of $46.82 and a 200-day moving average of $44.13. The company’s market capitalization is $6.49 billion. Alkermes PLC has a 12 month low of $27.14 and a 12 month high of $80.71.

Alkermes PLC (NASDAQ:ALKS) last announced its quarterly earnings data on Thursday, July 28th. The company reported ($0.01) EPS for the quarter, beating 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 firm earned $195.20 million during the quarter, compared to analysts’ expectations of $174.15 million. During the same quarter last year, the business earned ($0.09) earnings per share. The business’s revenue for the quarter was up 28.9% compared to the same quarter last year. Analysts forecast that Alkermes PLC will post ($0.12) EPS for the current year.

In other Alkermes PLC news, CMO Elliot Ehrich sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $50.83, for a total transaction of $254,150.00. Following the completion of the sale, the chief marketing officer now directly owns 46,477 shares in the company, valued at $2,362,425.91. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Paul J. Mitchell sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 4th. The stock was sold at an average price of $47.42, for a total transaction of $94,840.00. Following the sale, the director now owns 10,000 shares of the company’s stock, valued at $474,200. The disclosure for this sale can be found here. 4.75% of the stock is currently owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the company. AMP Capital Investors Ltd increased its stake in Alkermes PLC by 39.0% in the first quarter. AMP Capital Investors Ltd now owns 86,554 shares of the company’s stock valued at $2,788,000 after buying an additional 24,268 shares in the last quarter. Opus Point Partners Management LLC increased its stake in Alkermes PLC by 17.0% in the first quarter. Opus Point Partners Management LLC now owns 102,277 shares of the company’s stock valued at $3,497,000 after buying an additional 14,862 shares in the last quarter. Granahan Investment Management Inc. MA increased its stake in Alkermes PLC by 47.8% in the first quarter. Granahan Investment Management Inc. MA now owns 535,878 shares of the company’s stock valued at $18,322,000 after buying an additional 173,378 shares in the last quarter. Bogle Investment Management L P DE acquired a new stake in Alkermes PLC during the first quarter valued at about $14,745,000. Finally, Wellington Management Group LLP increased its stake in 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 in the last quarter. Institutional investors own 95.13% of the company’s stock.

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.

5 Day Chart for NASDAQ:ALKS

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