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Alkermes PLC (NASDAQ:ALKS) was downgraded by analysts at UBS AG from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, reports. They currently have a $42.00 target price on the stock, up from their previous target price of $37.00. UBS AG’s price objective would indicate a potential upside of 2.44% from the company’s current price. The analysts noted that the move was a valuation call.

Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Alkermes PLC in a research note to investors on Tuesday, November 5th. They now have a $37.00 price target on the stock. Separately, analysts at Mizuho raised their price target on shares of Alkermes PLC from $30.00 to $33.00 in a research note to investors on Friday, November 1st. They now have a “neutral” rating on the stock. Finally, analysts at FBR Capital Markets initiated coverage on shares of Alkermes PLC in a research note to investors on Wednesday, October 30th. They set a “market perform” rating and a $31.00 price target on the stock. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $34.33.

Alkermes PLC (NASDAQ:ALKS) traded down 3.73% during mid-day trading on Thursday, hitting $39.47. 558,488 shares of the company’s stock traded hands. Alkermes PLC has a 1-year low of $18.21 and a 1-year high of $41.47. The stock’s 50-day moving average is $37.00 and its 200-day moving average is $33.11. The company has a market cap of $5.398 billion and a P/E ratio of 299.27.

Alkermes PLC (NASDAQ:ALKS) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.22 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.22. The company had revenue of $139.80 million for the quarter, compared to the consensus estimate of $137.35 million. During the same quarter in the previous year, the company posted $0.17 earnings per share. The company’s revenue for the quarter was up 12.7% on a year-over-year basis.

Alkermes plc., formerly Alkermes, Inc, is an integrated biotechnology company. The Company is engaged in the business of developing, manufacturing and commercializing medicines for the treatment of prevalent, chronic diseases.

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