Alkermes PLC (ALKS) to Post Q3 2016 Earnings of ($0.17) Per Share, Leerink Swann Forecasts
Alkermes PLC (NASDAQ:ALKS) – Equities researchers at Leerink Swann issued their Q3 2016 earnings per share (EPS) estimates for Alkermes PLC in a research report issued to clients and investors on Tuesday. Leerink Swann analyst P. Matteis anticipates that the brokerage will post earnings of ($0.17) per share for the quarter. Leerink Swann currently has a “Outperform” rating and a $57.00 target price on the stock. Leerink Swann also issued estimates for Alkermes PLC’s Q4 2016 earnings at ($0.14) EPS, FY2016 earnings at ($0.79) EPS and FY2017 earnings at ($0.84) EPS.
Alkermes PLC (NASDAQ:ALKS) last announced its quarterly earnings results on Thursday, July 28th. The company reported ($0.01) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.09. Alkermes PLC had a negative net margin of 41.19% and a negative return on equity of 14.18%. The business had revenue of $195.20 million for the quarter, compared to analyst estimates of $174.15 million. During the same quarter in the prior year, the business earned ($0.09) EPS. Alkermes PLC’s quarterly revenue was up 28.9% on a year-over-year basis.
A number of other research analysts have also weighed in on the stock. Barclays PLC reissued a “buy” rating and set a $65.00 price target (up from $50.00) on shares of Alkermes PLC in a research report on Tuesday, July 12th. Jefferies Group reissued a “buy” rating on shares of Alkermes PLC in a research report on Sunday, July 17th. Cowen and Company reissued a “buy” rating on shares of Alkermes PLC in a research report on Friday, September 23rd. Zacks Investment Research raised shares of Alkermes PLC from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Friday, August 5th. Finally, JPMorgan Chase & Co. reissued a “hold” rating and set a $51.00 price target on shares of Alkermes PLC in a research report on Friday, July 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $55.90.
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Shares of Alkermes PLC (NASDAQ:ALKS) traded down 0.22% on Friday, reaching $45.11. 200,844 shares of the company were exchanged. The company’s 50 day moving average is $46.87 and its 200 day moving average is $43.74. Alkermes PLC has a 12-month low of $27.14 and a 12-month high of $80.71. The firm’s market capitalization is $6.84 billion.
In other news, Director Paul J. Mitchell sold 2,000 shares of Alkermes PLC stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $45.92, for a total value of $91,840.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at $459,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Elliot Ehrich sold 35,199 shares of Alkermes PLC stock in a transaction dated Wednesday, July 27th. The stock was sold at an average price of $51.95, for a total transaction of $1,828,588.05. Following the completion of the transaction, the chief marketing officer now owns 46,111 shares of the company’s stock, valued at approximately $2,395,466.45. The disclosure for this sale can be found here. 4.75% of the stock is currently owned by insiders.
Several institutional investors have recently bought and sold shares of ALKS. Opus Point Partners Management LLC increased its position in Alkermes PLC by 17.0% in the first quarter. Opus Point Partners Management LLC now owns 102,277 shares of the company’s stock valued at $3,497,000 after buying an additional 14,862 shares during the last quarter. Granahan Investment Management Inc. MA increased its position in Alkermes PLC by 47.8% in the first quarter. Granahan Investment Management Inc. MA now owns 535,878 shares of the company’s stock valued at $18,322,000 after buying an additional 173,378 shares during the last quarter. Bogle Investment Management L P DE acquired a new position in Alkermes PLC during the first quarter valued at $14,745,000. Wellington Management Group LLP increased its position in Alkermes PLC by 5.0% in the first quarter. Wellington Management Group LLP now owns 21,097,768 shares of the company’s stock valued at $721,333,000 after buying an additional 995,186 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Alkermes PLC by 6.3% in the first quarter. Geode Capital Management LLC now owns 971,829 shares of the company’s stock valued at $33,208,000 after buying an additional 57,965 shares during the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.
Alkermes PLC Company Profile
Alkermes Public Limited Company is a biopharmaceutical company. The Company is engaged in researching, developing and commercializing, both with partners and on its own, pharmaceutical products that are designed to address medical needs of patients in therapeutic areas. The Company has a portfolio of approximately 20 products and a clinical pipeline of product candidates that address central nervous system (CNS) disorders, such as schizophrenia, depression, addiction and multiple sclerosis.
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