Alkermes (NASDAQ:ALKS) Upgraded at BidaskClub

BidaskClub upgraded shares of Alkermes (NASDAQ:ALKS) from a sell rating to a hold rating in a research note released on Wednesday morning, BidAskClub reports.

Several other equities research analysts have also issued reports on ALKS. Citigroup set a $25.00 price target on Alkermes and gave the company a hold rating in a research report on Friday, July 26th. HC Wainwright began coverage on Alkermes in a research report on Friday, May 31st. They set a neutral rating and a $28.00 price target on the stock. Morgan Stanley raised Alkermes from an underweight rating to an equal rating and dropped their price target for the company from $30.00 to $20.00 in a research report on Thursday, September 5th. Zacks Investment Research lowered Alkermes from a buy rating to a hold rating and set a $26.00 price target on the stock. in a research report on Friday, July 19th. Finally, TheStreet lowered Alkermes from a c- rating to a d rating in a research report on Friday, May 17th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. Alkermes presently has a consensus rating of Hold and a consensus target price of $28.45.

ALKS stock opened at $22.30 on Wednesday. The company has a current ratio of 2.98, a quick ratio of 2.69 and a debt-to-equity ratio of 0.25. The firm has a market cap of $3.63 billion, a P/E ratio of -318.57 and a beta of 1.82. Alkermes has a 12-month low of $19.36 and a 12-month high of $45.16. The stock’s 50 day simple moving average is $21.31 and its 200 day simple moving average is $26.49.

Alkermes (NASDAQ:ALKS) last posted its quarterly earnings results on Thursday, July 25th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.26) by $0.20. The business had revenue of $279.90 million for the quarter, compared to analyst estimates 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 was down 8.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.29 EPS. On average, research analysts forecast that Alkermes will post -0.39 EPS for the current fiscal year.

In other Alkermes news, CEO Richard F. Pops sold 100,000 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $20.18, for a total value of $2,018,000.00. Following the sale, the chief executive officer now directly owns 816,433 shares of the company’s stock, valued at $16,475,617.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.71% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP increased its holdings in shares of Alkermes by 58.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 361,457 shares of the company’s stock valued at $10,664,000 after purchasing an additional 133,233 shares during the period. Geode Capital Management LLC increased its holdings in shares of Alkermes by 5.2% during the fourth quarter. Geode Capital Management LLC now owns 1,546,255 shares of the company’s stock valued at $45,602,000 after purchasing an additional 76,621 shares during the period. State Board of Administration of Florida Retirement System increased its holdings in shares of Alkermes by 6.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 230,647 shares of the company’s stock valued at $8,416,000 after purchasing an additional 13,436 shares during the period. Nissay Asset Management Corp Japan ADV increased its holdings in shares of Alkermes by 4.7% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 13,531 shares of the company’s stock valued at $494,000 after purchasing an additional 607 shares during the period. Finally, Toronto Dominion Bank increased its holdings in shares of Alkermes by 33.8% during the first quarter. Toronto Dominion Bank now owns 27,977 shares of the company’s stock valued at $1,021,000 after purchasing an additional 7,062 shares during the period. 95.92% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Alkermes (NASDAQ:ALKS)

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