Alkermes (NASDAQ:ALKS) Stock Price Up 5.3%

Alkermes Plc (NASDAQ:ALKS) shares rose 5.3% during trading on Thursday . The company traded as high as $22.99 and last traded at $22.87, approximately 1,104,213 shares traded hands during mid-day trading. A decline of 6% from the average daily volume of 1,180,735 shares. The stock had previously closed at $21.72.

ALKS has been the subject of a number of analyst reports. Citigroup set a $25.00 price objective on shares of Alkermes and gave the company a “hold” rating in a research report on Friday, July 26th. Zacks Investment Research downgraded shares of Alkermes from a “buy” rating to a “hold” rating and set a $26.00 price objective for the company. in a research report on Friday, July 19th. TheStreet downgraded shares of Alkermes from a “c-” rating to a “d” rating in a research report on Friday, May 17th. BidaskClub raised shares of Alkermes from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Goldman Sachs Group raised shares of Alkermes from a “sell” rating to a “neutral” rating and set a $27.00 price objective for the company in a research report on Monday, July 15th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $31.70.

The firm has a 50 day moving average price of $22.44. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.69 and a current ratio of 2.98. The company has a market cap of $3.41 billion, a P/E ratio of -317.00 and a beta of 1.80.

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

In other Alkermes news, CEO Richard F. Pops sold 60,000 shares of Alkermes stock in a transaction dated 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 in the company, valued at approximately $19,736,926.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard F. Pops sold 110,000 shares of Alkermes stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $24.88, for a total transaction of $2,736,800.00. Following the completion of the sale, the director now owns 776,433 shares of the company’s stock, valued at approximately $19,317,653.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 190,000 shares of company stock valued at $4,760,600. 4.71% of the stock is currently owned by corporate insiders.

Institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its holdings in shares of Alkermes by 7.3% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 760,660 shares of the company’s stock valued at $17,146,000 after purchasing an additional 51,881 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec bought a new stake in shares of Alkermes during the 2nd quarter valued at approximately $349,000. Trexquant Investment LP bought a new stake in shares of Alkermes during the 2nd quarter valued at approximately $1,163,000. Atria Investments LLC bought a new stake in Alkermes during the 2nd quarter worth approximately $877,000. Finally, Panagora Asset Management Inc. grew its holdings in Alkermes by 1,049.6% during the 2nd quarter. Panagora Asset Management Inc. now owns 21,486 shares of the company’s stock worth $485,000 after acquiring an additional 19,617 shares during the last quarter. Institutional investors and hedge funds own 97.00% of the company’s stock.

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.

Recommended Story: G-20

Receive News & Ratings for Alkermes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alkermes and related companies with MarketBeat.com's FREE daily email newsletter.