Alkermes (NASDAQ:ALKS) Upgraded by Goldman Sachs Group to “Neutral”
Goldman Sachs Group upgraded shares of Alkermes (NASDAQ:ALKS) from a sell rating to a neutral rating in a research note published on Monday, 24/7 WallStreet reports. Goldman Sachs Group currently has $27.00 price target on the stock.
A number of other analysts also recently issued reports on the company. HC Wainwright set a $25.00 price target on Epizyme and gave the company a buy rating in a research report on Friday, May 31st. BidaskClub upgraded Zillow Group from a buy rating to a strong-buy rating in a research report on Tuesday, July 2nd. TheStreet downgraded Trinseo from a b- rating to a c+ rating in a research report on Friday, May 17th. ValuEngine downgraded Zosano Pharma from a buy rating to a hold rating in a research report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. downgraded Engie to a hold rating in a research report on Wednesday, April 10th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $37.55.
Shares of ALKS opened at $24.28 on Monday. The business has a 50-day moving average price of $22.56. Alkermes has a fifty-two week low of $21.29 and a fifty-two week high of $46.98. The stock has a market cap of $3.64 billion, a price-to-earnings ratio of -346.86 and a beta of 1.83. The company has a current ratio of 2.94, a quick ratio of 2.65 and a debt-to-equity ratio of 0.25.
In other Alkermes news, SVP Michael J. Landine sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $24.93, for a total value of $498,600.00. Following the completion of the sale, the senior vice president now owns 193,426 shares in the company, valued at $4,822,110.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard F. Pops sold 60,000 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $25.42, for a total value of $1,525,200.00. Following the completion of the sale, the chief executive officer now owns 776,433 shares of the company’s stock, valued at approximately $19,736,926.86. The disclosure for this sale can be found here. Insiders sold a total of 195,373 shares of company stock valued at $4,905,080 in the last 90 days. 4.71% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in ALKS. Pendal Group Ltd bought a new stake in Alkermes in the first quarter valued at approximately $82,000. Globeflex Capital L P purchased a new position in shares of Alkermes during the first quarter valued at approximately $148,000. Commerce Bank purchased a new position in shares of Alkermes during the first quarter valued at approximately $201,000. CIBC Asset Management Inc increased its stake in shares of Alkermes by 12.2% during the first quarter. CIBC Asset Management Inc now owns 8,382 shares of the company’s stock valued at $306,000 after buying an additional 910 shares during the period. Finally, NumerixS Investment Technologies Inc increased its stake in shares of Alkermes by 15.5% during the first quarter. NumerixS Investment Technologies Inc now owns 8,910 shares of the company’s stock valued at $318,000 after buying an additional 1,198 shares during the period. Hedge funds and other institutional investors own 97.38% of the company’s stock.
Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in various therapeutic areas in the United States, Ireland, and internationally. The company's marketed products include ARISTADA (aripiprazole lauroxil), an extended-release intramuscular injectable suspension for the treatment of schizophrenia; VIVITROL (naltrexone for extended-release injectable suspension) for the treatment of alcohol and opioid dependence; RISPERDAL CONSTA for the treatment of schizophrenia and bipolar I disorder; INVEGA SUSTENNA for the treatment of schizophrenia and schizoaffective disorder; XEPLION, INVEGA TRINZA, and TREVICTA for treating schizophrenia; and AMPYRA (dalfampridine)/FAMPYRA (fampridine) to enhance walking in adults with multiple sclerosis (MS) who have walking disability.
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