Brokerages Set Alkermes Plc (ALKS) Price Target at $51.44

Shares of Alkermes Plc (NASDAQ:ALKS) have earned an average recommendation of “Buy” from the fifteen analysts that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $50.89.

ALKS has been the topic of a number of recent research reports. Stifel Nicolaus reduced their price objective on shares of Alkermes from $44.00 to $40.00 and set a “hold” rating on the stock in a research note on Friday, November 2nd. Bank of America reduced their price objective on shares of Alkermes from $56.00 to $54.00 and set a “buy” rating on the stock in a research note on Friday, July 27th. ValuEngine raised shares of Alkermes from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 14th. Cowen reaffirmed a “buy” rating and issued a $58.00 price objective on shares of Alkermes in a research note on Tuesday, October 30th. Finally, BidaskClub cut shares of Alkermes from a “hold” rating to a “sell” rating in a research note on Wednesday, September 19th.

Shares of Alkermes stock traded down $1.33 during midday trading on Monday, reaching $37.67. The company had a trading volume of 820,584 shares, compared to its average volume of 1,090,281. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.85 and a quick ratio of 2.56. The firm has a market cap of $6.07 billion, a P/E ratio of -101.81 and a beta of 1.61. Alkermes has a 1-year low of $36.67 and a 1-year high of $71.22.

Alkermes (NASDAQ:ALKS) last issued its quarterly earnings results on Tuesday, October 23rd. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.15. The business had revenue of $248.72 million during the quarter, compared to analyst estimates of $236.70 million. Alkermes had a negative net margin of 13.23% and a negative return on equity of 0.12%. Alkermes’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.03 earnings per share. On average, sell-side analysts expect that Alkermes will post -0.5 EPS for the current year.

In other news, Director Paul J. Mitchell sold 1,000 shares of Alkermes stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $44.58, for a total transaction of $44,580.00. Following the transaction, the director now directly owns 8,000 shares of the company’s stock, valued at $356,640. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last three months, insiders have sold 3,000 shares of company stock worth $124,510. Insiders own 5.34% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in ALKS. Crossmark Global Holdings Inc. bought a new position in shares of Alkermes during the third quarter worth $220,000. NumerixS Investment Technologies Inc bought a new position in shares of Alkermes during the second quarter worth $233,000. Clarus Wealth Advisors boosted its position in shares of Alkermes by 46.2% during the third quarter. Clarus Wealth Advisors now owns 5,700 shares of the company’s stock worth $242,000 after purchasing an additional 1,800 shares in the last quarter. Parametrica Management Ltd bought a new position in shares of Alkermes during the third quarter worth $286,000. Finally, Arlington Partners LLC bought a new position in shares of Alkermes during the third quarter worth $297,000.

Alkermes Company Profile

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; INVEGA SUSTENNA for the treatment of schizophrenia and schizoaffective disorder; XEPLION, INVEGA TRINZA, and TREVICTA for treating schizophrenia; RISPERDAL CONSTA for the treatment of schizophrenia and bipolar I disorder; AMPYRA (dalfampridine)/FAMPYRA (fampridine) to enhance walking in adults with multiple sclerosis (MS) who have walking disability; and BYDUREON (exenatide extended-release for injectable suspension) and BYDUREON BCise for the treatment of type 2 diabetes.

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Analyst Recommendations for Alkermes (NASDAQ:ALKS)

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