Jefferies Group Reiterates “Buy” Rating for Alkermes PLC (ALKS)
Alkermes PLC (NASDAQ:ALKS)‘s stock had its “buy” rating reiterated by Jefferies Group in a research note issued on Thursday. They presently have a $70.00 price target on the stock. Jefferies Group’s price target would suggest a potential upside of 19.78% from the company’s previous close.
Other equities research analysts have also recently issued reports about the company. Leerink Swann lifted their price objective on Alkermes PLC from $57.00 to $70.00 and gave the stock an “outperform” rating in a research note on Friday, October 21st. Morgan Stanley raised Alkermes PLC from an “underweight” rating to a “hold” rating and set a $62.00 price objective for the company in a research note on Friday, October 21st. Zacks Investment Research raised Alkermes PLC from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research note on Friday, August 5th. JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $51.00 price objective on shares of Alkermes PLC in a research note on Friday, July 29th. Finally, Cowen and Company set a $60.00 price objective on Alkermes PLC and gave the stock a “buy” rating in a research note on Thursday, October 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $61.64.
Alkermes PLC (NASDAQ:ALKS) opened at 58.44 on Thursday. Alkermes PLC has a 12 month low of $27.14 and a 12 month high of $80.71. The firm’s market capitalization is $8.88 billion. The firm has a 50-day moving average price of $50.81 and a 200 day moving average price of $46.76.
Alkermes PLC (NASDAQ:ALKS) last announced its quarterly earnings data on Wednesday, November 2nd. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by $0.03. Alkermes PLC had a negative return on equity of 12.75% and a negative net margin of 36.92%. The company had revenue of $180.20 million for the quarter, compared to analyst estimates of $186.39 million. During the same period last year, the firm earned ($0.19) earnings per share. The firm’s revenue for the quarter was up 18.0% on a year-over-year basis. On average, equities analysts forecast that Alkermes PLC will post ($0.20) EPS for the current year.
In related news, SVP David Joseph Gaffin sold 2,382 shares of the company’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $45.92, for a total transaction of $109,381.44. Following the sale, the senior vice president now owns 22,816 shares in the company, valued at $1,047,710.72. The transaction 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 company’s stock in a transaction dated Tuesday, October 4th. The stock was sold at an average price of $47.42, for a total value of $94,840.00. Following the sale, the director now owns 10,000 shares in the company, valued at approximately $474,200. 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 added to or reduced their stakes in the company. 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 valued at $123,000 after buying an additional 544 shares during the last quarter. Glenmede Trust Co. NA raised its stake in Alkermes PLC by 2,458.1% in the second quarter. Glenmede Trust Co. NA now owns 3,300 shares of the company’s stock valued at $142,000 after buying an additional 3,171 shares during the last quarter. Mn Services Vermogensbeheer B.V. raised its stake in Alkermes PLC by 3.4% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 3,829 shares of the company’s stock valued at $149,000 after buying an additional 127 shares during the last quarter. Strs Ohio raised its stake in Alkermes PLC by 29.6% in the second quarter. Strs Ohio now owns 4,050 shares of the company’s stock valued at $175,000 after buying an additional 925 shares during the last quarter. Finally, Independent Portfolio Consultants Inc. bought a new stake in Alkermes PLC during the second quarter valued at about $179,000. Institutional investors and hedge funds own 94.67% 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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