Alkermes Plc (ALKS) Stock Rating Reaffirmed by Cantor Fitzgerald
Alkermes Plc (NASDAQ:ALKS)‘s stock had its “neutral” rating reissued by equities research analysts at Cantor Fitzgerald in a research report issued on Thursday. They currently have a $51.00 target price on the stock. Cantor Fitzgerald’s price target would suggest a potential downside of 14.01% from the company’s previous close.
A number of other equities research analysts have also recently issued reports on the stock. TheStreet raised shares of Alkermes Plc from a “d+” rating to a “c” rating in a research note on Wednesday, February 15th. Zacks Investment Research raised shares of Alkermes Plc from a “sell” rating to a “hold” rating in a research note on Tuesday, December 13th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $70.00 price target on shares of Alkermes Plc in a research note on Thursday, November 17th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $63.09.
Alkermes Plc (NASDAQ:ALKS) opened at 59.31 on Thursday. Alkermes Plc has a 12-month low of $30.00 and a 12-month high of $62.50. The company’s market capitalization is $9.05 billion. The stock has a 50 day moving average of $56.10 and a 200-day moving average of $53.55.
Alkermes Plc (NASDAQ:ALKS) last released its quarterly earnings results on Wednesday, February 15th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.11. Alkermes Plc had a negative net margin of 36.92% and a negative return on equity of 12.75%. The firm had revenue of $213.50 million for the quarter, compared to analysts’ expectations of $206.38 million. During the same quarter last year, the company earned ($0.14) EPS. The firm’s revenue for the quarter was up 30.9% compared to the same quarter last year. Equities analysts expect that Alkermes Plc will post $0.07 earnings per share for the current year.
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In other Alkermes Plc news, SVP David Joseph Gaffin sold 2,500 shares of the firm’s stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $55.40, for a total value of $138,500.00. Following the transaction, the senior vice president now owns 27,207 shares in the company, valued at approximately $1,507,267.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Elliot Ehrich sold 10,000 shares of the firm’s stock in a transaction on Friday, January 6th. The shares were sold at an average price of $59.44, for a total value of $594,400.00. Following the completion of the transaction, the chief marketing officer now owns 60,140 shares in the company, valued at approximately $3,574,721.60. The disclosure for this sale can be found here. Insiders sold a total of 123,983 shares of company stock worth $7,240,137 in the last 90 days. 4.75% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Camber Capital Management LLC raised its position in Alkermes Plc by 6.7% in the fourth quarter. Camber Capital Management LLC now owns 1,000,000 shares of the company’s stock valued at $55,580,000 after buying an additional 62,700 shares in the last quarter. Norges Bank bought a new position in Alkermes Plc during the fourth quarter valued at approximately $44,274,000. Soros Fund Management LLC raised its position in Alkermes Plc by 56.5% in the fourth quarter. Soros Fund Management LLC now owns 7,200 shares of the company’s stock valued at $400,000 after buying an additional 2,600 shares in the last quarter. GLG LLC raised its position in Alkermes Plc by 6.8% in the fourth quarter. GLG LLC now owns 9,354 shares of the company’s stock valued at $520,000 after buying an additional 594 shares in the last quarter. Finally, Two Sigma Investments LP raised its position in Alkermes Plc by 33.3% in the fourth quarter. Two Sigma Investments LP now owns 129,055 shares of the company’s stock valued at $7,173,000 after buying an additional 32,204 shares in the last quarter. Institutional investors and hedge funds own 95.52% 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.
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