JPMorgan Chase & Co. reaffirmed their buy rating on shares of Alkermes (NASDAQ:ALKS) in a research note issued to investors on Thursday morning.
ALKS has been the topic of several other reports. Piper Jaffray Companies began coverage on Alkermes in a report on Monday, November 5th. They issued a neutral rating and a $40.00 target price on the stock. Leerink Swann began coverage on Alkermes in a report on Monday, November 12th. They issued a market perform rating and a $36.00 target price on the stock. Cantor Fitzgerald reaffirmed a neutral rating and issued a $41.00 target price (down from $46.00) on shares of Alkermes in a report on Monday, November 5th. ValuEngine raised Alkermes from a sell rating to a hold rating in a report on Friday, October 26th. Finally, BidaskClub raised Alkermes from a hold rating to a buy rating in a report on Friday, September 28th. Five research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. Alkermes has a consensus rating of Hold and a consensus target price of $47.36.
Shares of ALKS stock opened at $32.51 on Thursday. Alkermes has a 12-month low of $27.54 and a 12-month high of $71.22. The company has a current ratio of 2.85, a quick ratio of 2.56 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $5.00 billion, a PE ratio of -87.86 and a beta of 1.62.
Alkermes (NASDAQ:ALKS) last issued its earnings results on Tuesday, October 23rd. The company reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.15. Alkermes had a negative return on equity of 0.12% and a negative net margin of 13.23%. The firm had revenue of $248.72 million for the quarter, compared to analysts’ expectations of $236.70 million. During the same period in the previous year, the firm posted $0.03 earnings per share. The business’s revenue was up 14.4% compared to the same quarter last year. As a group, analysts predict that Alkermes will post -0.5 EPS for the current year.
In other Alkermes news, Director David W. Anstice sold 8,787 shares of the business’s stock in a transaction that occurred on Wednesday, December 12th. The stock was sold at an average price of $35.59, for a total transaction of $312,729.33. Following the sale, the director now directly owns 70,000 shares of the company’s stock, valued at $2,491,300. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Paul J. Mitchell sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $36.45, for a total value of $36,450.00. Following the sale, the director now directly owns 8,000 shares in the company, valued at $291,600. The disclosure for this sale can be found here. Insiders have sold 11,787 shares of company stock worth $416,689 over the last three months. 5.51% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC increased its stake in Alkermes by 123.7% during the third quarter. Tower Research Capital LLC TRC now owns 2,908 shares of the company’s stock worth $123,000 after acquiring an additional 1,608 shares during the last quarter. Nordea Investment Management AB bought a new stake in Alkermes during the third quarter worth approximately $183,000. LPL Financial LLC bought a new stake in Alkermes during the third quarter worth approximately $212,000. Crossmark Global Holdings Inc. bought a new stake in Alkermes during the third quarter worth approximately $220,000. Finally, Hsbc Holdings PLC bought a new stake in Alkermes during the third quarter worth approximately $235,000.
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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