Alkermes Plc Coverage Initiated by Analysts at Jefferies Group (ALKS)
Jefferies Group started coverage on shares of Alkermes Plc (NASDAQ:ALKS) in a research note issued on Friday, AnalystRatingsNetwork.com reports. The firm set a “buy” rating and a $53.00 price target on the stock. Jefferies Group’s target price indicates a potential upside of 20.40% from the company’s current price.
In other Alkermes Plc news, Director Floyd Bloom unloaded 10,000 shares of the stock on the open market in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $46.16, for a total value of $461,600.00. Following the sale, the director now directly owns 90,281 shares in the company, valued at approximately $4,167,371. The sale was disclosed in a filing with the SEC, which is available at this link.
Alkermes Plc (NASDAQ:ALKS) opened at 44.02 on Friday. Alkermes Plc has a one year low of $26.47 and a one year high of $54.25. The stock has a 50-day moving average of $44.72 and a 200-day moving average of $44.02. The company’s market cap is $6.362 billion.
Alkermes Plc (NASDAQ:ALKS) last announced its earnings results on Wednesday, April 30th. The company reported $0.11 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.10 by $0.01. The company had revenue of $130.21 million for the quarter, compared to the consensus estimate of $135.79 million. During the same quarter in the prior year, the company posted $0.40 earnings per share. The company’s quarterly revenue was down 20.3% on a year-over-year basis. On average, analysts predict that Alkermes Plc will post $0.50 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on ALKS. Analysts at Zacks reiterated a “neutral” rating on shares of Alkermes Plc in a research note on Friday, May 2nd. They now have a $50.00 price target on the stock. Finally, analysts at Mizuho upgraded shares of Alkermes Plc from a “neutral” rating to a “buy” rating in a research note on Thursday, April 10th. They now have a $61.00 price target on the stock, up previously from $56.00. Two analysts have rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Alkermes Plc presently has a consensus rating of “Hold” and an average price target of $47.00.
Alkermes Public Limited Company is an integrated, global biopharmaceutical company. The Company has a portfolio of more than 20 commercial drug products and a clinical pipeline of product candidates that address central nervous system (NASDAQ:ALKS) disorders such as addiction, schizophrenia and depression.
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