Credit Suisse Lowers Alkermes Plc Price Target to $56.00 (ALKS)
Analysts at Credit Suisse cut their target price on shares of Alkermes Plc (NASDAQ:ALKS) from $57.00 to $56.00 in a research report issued to clients and investors on Friday. Credit Suisse’s target price indicates a potential upside of 30.32% from the company’s current price.
A number of other firms have also recently commented on ALKS. Analysts at Mizuho cut their price target on shares of Alkermes Plc from $61.00 to $59.00 in a research note on Thursday. They now have a “buy” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Alkermes Plc in a research note on Friday, July 11th. They now have a $50.00 price target on the stock. Finally, analysts at Jefferies Group initiated coverage on shares of Alkermes Plc in a research note on Friday, May 16th. They set a “buy” rating and a $53.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $49.13.
Alkermes Plc (NASDAQ:ALKS) traded up 0.49% on Friday, hitting $42.97. 1,259,816 shares of the company’s stock traded hands. Alkermes Plc has a 1-year low of $29.36 and a 1-year high of $54.25. The stock has a 50-day moving average of $47.60 and a 200-day moving average of $47.09. The company’s market cap is $6.210 billion.
Alkermes Plc (NASDAQ:ALKS) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.11 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.14 by $0.03. The company had revenue of $153.40 million for the quarter, compared to the consensus estimate of $146.91 million. During the same quarter last year, the company posted $0.30 earnings per share. Alkermes Plc’s revenue was up 10.7% compared to the same quarter last year. Analysts expect that Alkermes Plc will post $0.49 EPS for the current fiscal year.
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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