Alkermes PLC (ALKS) PT Set at $69.00 by Jefferies Group LLC
Alkermes PLC (NASDAQ:ALKS) has been given a $69.00 price target by stock analysts at Jefferies Group LLC in a research report issued to clients and investors on Friday. The brokerage currently has a “buy” rating on the stock. Jefferies Group LLC’s price target indicates a potential upside of 36.85% from the company’s previous close.
Other research analysts also recently issued research reports about the stock. Cowen and Company reissued a “buy” rating on shares of Alkermes PLC in a research report on Friday, April 28th. ValuEngine downgraded shares of Alkermes PLC from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Zacks Investment Research raised shares of Alkermes PLC from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Credit Suisse Group set a $70.00 price objective on shares of Alkermes PLC and gave the company a “buy” rating in a research report on Friday, May 19th. Finally, BidaskClub downgraded shares of Alkermes PLC from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. Alkermes PLC has a consensus rating of “Hold” and a consensus price target of $62.89.
Alkermes PLC (NASDAQ ALKS) opened at 50.42 on Friday. Alkermes PLC has a 52-week low of $41.93 and a 52-week high of $63.40. The firm has a 50-day moving average price of $54.65 and a 200 day moving average price of $56.99. The stock’s market capitalization is $7.75 billion.
Alkermes PLC (NASDAQ:ALKS) last released its earnings results on Thursday, July 27th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. The business had revenue of $218.80 million during the quarter, compared to the consensus estimate of $216.54 million. Alkermes PLC had a negative net margin of 24.33% and a negative return on equity of 9.12%. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.01) earnings per share. On average, equities research analysts predict that Alkermes PLC will post ($0.04) EPS for the current year.
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In other news, insider Shane Cooke sold 10,000 shares of the firm’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $60.33, for a total transaction of $603,300.00. Following the completion of the sale, the insider now owns 84,708 shares in the company, valued at approximately $5,110,433.64. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Paul J. Mitchell sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $54.91, for a total transaction of $82,365.00. Following the sale, the director now owns 9,500 shares of the company’s stock, valued at approximately $521,645. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,500 shares of company stock valued at $859,065. 5.34% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of the company. Toronto Dominion Bank boosted its stake in Alkermes PLC by 12.7% in the second quarter. Toronto Dominion Bank now owns 1,875 shares of the company’s stock worth $109,000 after buying an additional 212 shares in the last quarter. WINTON GROUP Ltd bought a new stake in Alkermes PLC during the second quarter worth about $249,000. The Manufacturers Life Insurance Company boosted its stake in Alkermes PLC by 7.6% in the second quarter. The Manufacturers Life Insurance Company now owns 5,804 shares of the company’s stock worth $336,000 after buying an additional 409 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Alkermes PLC by 13,784.0% in the second quarter. Janus Henderson Group PLC now owns 2,330,992 shares of the company’s stock worth $135,128,000 after buying an additional 2,314,203 shares in the last quarter. Finally, Macquarie Group Ltd. boosted its stake in Alkermes PLC by 175.4% in the second quarter. Macquarie Group Ltd. now owns 169,940 shares of the company’s stock worth $9,851,000 after buying an additional 108,229 shares in the last quarter. Institutional investors own 97.19% of the company’s stock.
Alkermes PLC Company Profile
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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