Q4 2017 EPS Estimates for Alkermes PLC (ALKS) Decreased by Analyst
Alkermes PLC (NASDAQ:ALKS) – Analysts at Leerink Swann dropped their Q4 2017 earnings per share estimates for Alkermes PLC in a report released on Tuesday. Leerink Swann analyst P. Matteis now anticipates that the company will post earnings per share of ($0.05) for the quarter, down from their prior estimate of ($0.04). Leerink Swann currently has a “Market Perform” rating and a $61.00 target price on the stock. Leerink Swann also issued estimates for Alkermes PLC’s FY2018 earnings at ($0.40) EPS.
A number of other equities research analysts have also recently commented on ALKS. Cantor Fitzgerald restated a “neutral” rating and set a $51.00 target price on shares of Alkermes PLC in a research report on Thursday, March 16th. Cowen and Company restated a “positive” rating and set a $65.00 target price on shares of Alkermes PLC in a research report on Tuesday, March 21st. Jefferies Group LLC restated a “buy” rating and set a $70.00 target price on shares of Alkermes PLC in a research report on Monday, April 3rd. Morgan Stanley restated an “equal weight” rating and set a $62.00 target price on shares of Alkermes PLC in a research report on Monday, April 24th. Finally, J P Morgan Chase & Co set a $78.00 target price on Alkermes PLC and gave the company a “buy” rating in a research report on Thursday, April 27th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $63.10.
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Alkermes PLC (NASDAQ ALKS) opened at 57.15 on Thursday. The stock’s market capitalization is $8.75 billion. Alkermes PLC has a 12 month low of $39.65 and a 12 month high of $63.40. The stock has a 50 day moving average price of $58.62 and a 200 day moving average price of $57.17.
Alkermes PLC (NASDAQ:ALKS) last announced its quarterly earnings data on Thursday, April 27th. The company reported ($0.31) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by $0.07. Alkermes PLC had a negative net margin of 25.61% and a negative return on equity of 9.76%. The business had revenue of $191.80 million during the quarter, compared to analysts’ expectations of $195.79 million. During the same quarter in the previous year, the firm earned ($0.16) earnings per share. Alkermes PLC’s revenue was up 22.3% on a year-over-year basis.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Creative Planning raised its position in Alkermes PLC by 16.2% in the first quarter. Creative Planning now owns 18,012 shares of the company’s stock worth $1,054,000 after buying an additional 2,510 shares during the period. Norges Bank acquired a new position in Alkermes PLC during the fourth quarter worth $44,274,000. Capstone Asset Management Co. raised its position in Alkermes PLC by 8.0% in the first quarter. Capstone Asset Management Co. now owns 6,585 shares of the company’s stock worth $385,000 after buying an additional 490 shares during the period. FMR LLC raised its position in Alkermes PLC by 0.4% in the first quarter. FMR LLC now owns 22,882,118 shares of the company’s stock worth $1,338,604,000 after buying an additional 86,546 shares during the period. Finally, KBC Group NV raised its position in Alkermes PLC by 141.8% in the first quarter. KBC Group NV now owns 225,966 shares of the company’s stock worth $13,219,000 after buying an additional 132,525 shares during the period. 97.33% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Shane Cooke sold 1,900 shares of Alkermes PLC stock in a transaction dated Tuesday, March 21st. The stock was sold at an average price of $60.09, for a total value of $114,171.00. Following the sale, the insider now directly owns 72,048 shares in the company, valued at approximately $4,329,364.32. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Richard F. Pops sold 50,000 shares of Alkermes PLC stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $58.19, for a total value of $2,909,500.00. Following the completion of the sale, the director now owns 680,406 shares in the company, valued at $39,592,825.14. The disclosure for this sale can be found here. Over the last quarter, insiders sold 174,800 shares of company stock worth $10,136,406. 5.34% of the stock is currently owned by insiders.
About Alkermes PLC
Alkermes plc is a biopharmaceutical company. The Company is engaged in the researching, developing and commercializing pharmaceutical products that are designed to address medical needs of patients in therapeutic areas. The Company has a portfolio of marketed drug products and a clinical pipeline of products that address central nervous system (CNS) disorders, such as schizophrenia, depression, addiction and multiple sclerosis (MS).
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