Several other brokerages also recently issued reports on ALKS. Citigroup set a $25.00 price objective on Alkermes and gave the stock a hold rating in a research note on Friday, July 26th. Goldman Sachs Group raised Alkermes from a sell rating to a neutral rating and set a $27.00 price objective for the company in a research note on Monday, July 15th. Piper Jaffray Companies reduced their price objective on Alkermes from $30.00 to $22.00 and set a neutral rating for the company in a research note on Thursday, July 25th. Zacks Investment Research downgraded Alkermes from a buy rating to a hold rating and set a $26.00 price objective for the company. in a research note on Friday, July 19th. Finally, TheStreet downgraded Alkermes from a c- rating to a d rating in a research note on Friday, May 17th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $28.45.
Shares of Alkermes stock opened at $22.30 on Wednesday. The stock has a 50-day moving average price of $21.31 and a 200 day moving average price of $26.49. The company has a market cap of $3.63 billion, a P/E ratio of -318.57 and a beta of 1.82. The company has a current ratio of 2.98, a quick ratio of 2.69 and a debt-to-equity ratio of 0.25. Alkermes has a 1 year low of $19.36 and a 1 year high of $45.16.
Alkermes (NASDAQ:ALKS) last announced its quarterly earnings data on Thursday, July 25th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.20. The firm had revenue of $279.90 million during the quarter, compared to the consensus estimate of $251.40 million. Alkermes had a negative return on equity of 4.13% and a negative net margin of 17.10%. The business’s revenue for the quarter was down 8.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.29 EPS. On average, equities analysts forecast that Alkermes will post -0.39 earnings per share for the current fiscal year.
In other news, CEO Richard F. Pops sold 100,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $22.68, for a total transaction of $2,268,000.00. Following the completion of the sale, the chief executive officer now directly owns 816,433 shares of the company’s stock, valued at approximately $18,516,700.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.71% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Clearbridge Investments LLC raised its stake in shares of Alkermes by 0.8% in the 1st quarter. Clearbridge Investments LLC now owns 1,275,948 shares of the company’s stock valued at $46,559,000 after acquiring an additional 9,979 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Alkermes by 45.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,584,471 shares of the company’s stock valued at $35,714,000 after acquiring an additional 495,562 shares in the last quarter. Alps Advisors Inc. bought a new position in shares of Alkermes in the 2nd quarter valued at approximately $7,377,000. Commerce Bank bought a new position in shares of Alkermes in the 1st quarter valued at approximately $201,000. Finally, DekaBank Deutsche Girozentrale raised its stake in shares of Alkermes by 74.1% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 147,581 shares of the company’s stock valued at $3,283,000 after acquiring an additional 62,805 shares in the last quarter. 95.92% of the stock is currently owned by institutional investors and hedge funds.
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; 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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