Alkermes (NASDAQ:ALKS) Trading Down 6.1%

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Alkermes Plc (NASDAQ:ALKS)’s stock price fell 6.1% on Friday . The stock traded as low as $19.95 and last traded at $20.07, 960,726 shares were traded during mid-day trading. A decline of 17% from the average session volume of 1,158,217 shares. The stock had previously closed at $21.37.

Several equities research analysts have issued reports on ALKS shares. Piper Jaffray Companies cut their price target on Alkermes from $30.00 to $22.00 and set a “neutral” rating for the company in a report on Thursday, July 25th. Goldman Sachs Group raised Alkermes from a “sell” rating to a “neutral” rating and set a $27.00 price target for the company in a report on Monday, July 15th. Zacks Investment Research downgraded Alkermes from a “buy” rating to a “hold” rating and set a $26.00 price target for the company. in a report on Friday, July 19th. HC Wainwright started coverage on Alkermes in a report on Friday, May 31st. They set a “neutral” rating and a $28.00 price target for the company. Finally, Citigroup set a $25.00 price target on Alkermes and gave the company a “hold” rating in a report on Friday, July 26th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $31.70.

The firm has a fifty day simple moving average of $22.23 and a 200-day simple moving average of $27.67. The firm has a market cap of $3.36 billion, a price-to-earnings ratio of -286.71 and a beta of 1.80. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.69 and a current ratio of 2.98.

Alkermes (NASDAQ:ALKS) last posted its earnings results on Thursday, July 25th. The company reported ($0.06) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.26) by $0.20. Alkermes had a negative return on equity of 4.13% and a negative net margin of 17.10%. The company had revenue of $279.90 million during the quarter, compared to the consensus estimate of $251.40 million. During the same quarter last year, the firm earned $0.29 earnings per share. The company’s revenue was down 8.1% on a year-over-year basis. Analysts expect that Alkermes Plc will post -0.35 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of ALKS. Renaissance Technologies LLC lifted its holdings in shares of Alkermes by 139.7% during the second quarter. Renaissance Technologies LLC now owns 3,950,586 shares of the company’s stock worth $89,046,000 after buying an additional 2,302,600 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Alkermes by 10.4% during the second quarter. BlackRock Inc. now owns 11,137,923 shares of the company’s stock worth $251,050,000 after buying an additional 1,052,841 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Alkermes by 70.4% during the second quarter. AQR Capital Management LLC now owns 2,375,998 shares of the company’s stock worth $53,080,000 after buying an additional 981,355 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Alkermes by 3.6% during the second quarter. Price T Rowe Associates Inc. MD now owns 20,275,957 shares of the company’s stock worth $457,020,000 after buying an additional 697,027 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of Alkermes by 29.1% during the first quarter. First Trust Advisors LP now owns 2,906,860 shares of the company’s stock worth $106,071,000 after buying an additional 655,873 shares in the last quarter. 96.66% of the stock is owned by institutional investors.

Alkermes Company Profile (NASDAQ:ALKS)

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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