Q3 2016 EPS Estimates for Alkermes PLC Reduced by Analyst (ALKS)
Alkermes PLC (NASDAQ:ALKS) – Equities research analysts at Jefferies Group decreased their Q3 2016 earnings per share estimates for Alkermes PLC in a note issued to investors on Wednesday. Jefferies Group analyst B. Amin now forecasts that the firm will earn ($0.33) per share for the quarter, down from their previous estimate of ($0.20). Jefferies Group has a “Buy” rating and a $62.00 price target on the stock. Jefferies Group also issued estimates for Alkermes PLC’s FY2016 earnings at ($0.98) EPS and FY2017 earnings at ($0.22) EPS.
A number of other research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Alkermes PLC from a “hold” rating to a “sell” rating in a report on Friday. Leerink Swann began coverage on shares of Alkermes PLC in a report on Tuesday, October 4th. They issued an “outperform” rating and a $57.00 target price on the stock. Citigroup Inc. upped their target price on shares of Alkermes PLC from $44.00 to $53.00 and gave the company a “neutral” rating in a report on Tuesday, September 27th. Cowen and Company restated a “buy” rating on shares of Alkermes PLC in a report on Friday, September 23rd. Finally, Morgan Stanley restated a “sell” rating and issued a $41.00 target price on shares of Alkermes PLC in a report on Friday, September 2nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $55.90.
Alkermes PLC (NASDAQ:ALKS) opened at 42.30 on Friday. Alkermes PLC has a 1-year low of $27.14 and a 1-year high of $80.71. The stock’s market cap is $6.41 billion. The stock has a 50 day moving average of $46.77 and a 200 day moving average of $44.21.
Alkermes PLC (NASDAQ:ALKS) last posted 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 business earned $195.20 million during the quarter, compared to analyst estimates of $174.15 million. During the same quarter last year, the firm posted ($0.09) earnings per share. The business’s revenue for the quarter was up 28.9% compared to the same quarter last year.
In related news, CMO Elliot Ehrich sold 5,000 shares of the 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 owns 46,477 shares of the company’s stock, valued at approximately $2,362,425.91. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Paul J. Mitchell sold 2,000 shares of the 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 directly owns 10,000 shares of the company’s stock, valued at approximately $474,200. 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 bought and sold shares of ALKS. British Columbia Investment Management Corp increased its stake in Alkermes PLC by 15.7% in the third quarter. British Columbia Investment Management Corp now owns 46,953 shares of the company’s stock worth $2,208,000 after buying an additional 6,365 shares during the period. Fisher Asset Management LLC increased its stake in Alkermes PLC by 5.3% in the third quarter. Fisher Asset Management LLC now owns 129,607 shares of the company’s stock worth $6,095,000 after buying an additional 6,513 shares during the period. Evercore Wealth Management LLC increased its stake in Alkermes PLC by 1.2% in the second quarter. Evercore Wealth Management LLC now owns 14,366 shares of the company’s stock worth $621,000 after buying an additional 166 shares during the period. Calvert Investment Management Inc. acquired a new stake in Alkermes PLC during the second quarter worth about $399,000. Finally, Schwab Charles Investment Management Inc. increased its stake in Alkermes PLC by 13.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 364,839 shares of the company’s stock worth $15,769,000 after buying an additional 43,630 shares during the period. 95.13% of the stock is owned by hedge funds and other institutional investors.
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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