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Alkermes Plc (NASDAQ:ALKS)‘s stock had its “neutral” rating reaffirmed by Zacks in a report issued on Wednesday. They currently have a $45.00 price objective on the stock. Zacks‘s price objective points to a potential upside of 4.05% from the stock’s previous close.

Zacks’ analyst wrote, “Alkermes’ second quarter 2014 adjusted loss of $0.01 per share compared unfavorably to the Zacks Consensus Estimate of earnings of $0.04 and the year ago earnings of 23 cents. Higher costs hurt results in the second quarter of 2014. Total revenues climbed 10.7% to $153.4 million, above the Zacks Consensus Estimate of $148 million. Alkermes now expects to record adjusted earnings per share in the range of $0.19 to $0.32 in 2014. Alkermes’ efforts to develop its pipeline is encouraging. The company intends to seek FDA approval of its schizophrenia candidate aripiprazole lauroxil by Sep 30, 2014. Management is highly bullish on this candidate. We maintain our Neutral recommendation on the stock.”

In other Alkermes Plc news, COO Gordon G. Pugh sold 23,250 shares of the company’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $43.20, for a total value of $1,004,400.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Shares of Alkermes Plc (NASDAQ:ALKS) traded down 3.03% on Wednesday, hitting $41.94. The stock had a trading volume of 545,693 shares. Alkermes Plc has a 52-week low of $29.36 and a 52-week high of $54.25. The stock has a 50-day moving average of $47.38 and a 200-day moving average of $47.0. The company’s market cap is $6.116 billion.

Alkermes Plc (NASDAQ:ALKS) last released its earnings data on Thursday, July 31st. The company reported $0.11 EPS for the quarter, missing the Thomson Reuters 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 in the prior year, the company posted $0.30 earnings per share. The company’s quarterly revenue was up 10.7% on a year-over-year basis. On average, analysts predict that Alkermes Plc will post $0.31 earnings per share for the current fiscal year.

ALKS has been the subject of a number of other recent research reports. Analysts at Credit Suisse cut their price target on shares of Alkermes Plc from $57.00 to $56.00 in a research note on Friday, August 1st. Separately, analysts at Mizuho cut their price target on shares of Alkermes Plc from $61.00 to $59.00 in a research note on Thursday, July 31st. They now have a “buy” rating 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 equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $48.50.

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.

To view Zacks’ full report, visit Zacks’ official website.

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