Alkermes PLC (ALKS) – Research Analysts’ Recent Ratings Updates
Several analysts have recently updated their ratings and price targets for Alkermes PLC (NASDAQ: ALKS):
- 10/4/2016 – Alkermes PLC is now covered by analysts at Leerink Swann. They set an “outperform” rating and a $57.00 price target on the stock.
- 9/27/2016 – Alkermes PLC was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Alkermes boasts a diversified portfolio of products targeting major CNS disorders including schizophrenia, depression, addiction and multiple sclerosis. Revenues are driven not only by the company’s royalty and manufacturing business, but also by a strong performance of Vivitrol and the commercialization of Aristada. Encouraged by the strong performance of Vivitrol in second-quarter 2016, Alkermes raised and updated its 2016 outlook. While Vivitrol should benefit from the newly passed legislation, CARA, gaining reimbursement and access for Aristada bodes well. Meanwhile, Alkermes’ progress with its pipeline has been impressive. Focus should be on the same as the company expects important data readouts over the next several quarters. Given its history of pipeline setbacks, any obstacle in the process of development of these candidates would weigh heavily on the stock. Stiff competition and high dependence on partners remains a threat.”
- 9/27/2016 – Alkermes PLC had its price target raised by analysts at Citigroup Inc. from $44.00 to $53.00. They now have a “neutral” rating on the stock.
- 9/23/2016 – Alkermes PLC had its “buy” rating reaffirmed by analysts at Cowen and Company.
- 9/2/2016 – Alkermes PLC had its “sell” rating reaffirmed by analysts at Morgan Stanley. They now have a $41.00 price target on the stock. They wrote, “We are raising our PT from $18 (11x old F17e of 1.64) to $23 (16x new F17e of $1.42) since downside from US MFA (antibiotic medicated feed additive) pressures appears limited.””
Alkermes PLC (NASDAQ:ALKS) traded down 1.98% on Friday, hitting $43.00. 413,220 shares of the stock were exchanged. Alkermes PLC has a one year low of $27.14 and a one year high of $80.71. The company has a 50 day moving average of $46.82 and a 200 day moving average of $44.13. The stock’s market capitalization is $6.52 billion.
Alkermes PLC (NASDAQ:ALKS) last issued its quarterly earnings results on Thursday, July 28th. The company reported ($0.01) EPS for the quarter, topping the 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 company earned $195.20 million during the quarter, compared to analysts’ expectations of $174.15 million. During the same quarter in the previous year, the company earned ($0.09) EPS. Alkermes PLC’s revenue was up 28.9% on a year-over-year basis. On average, equities research analysts forecast that Alkermes PLC will post ($0.12) earnings per share for the current fiscal year.
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In related news, SVP David Joseph Gaffin sold 2,382 shares of the business’s stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $45.92, for a total transaction of $109,381.44. Following the completion of the transaction, the senior vice president now owns 22,816 shares in the company, valued at $1,047,710.72. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CMO Elliot Ehrich sold 35,199 shares of the business’s stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $51.95, for a total transaction of $1,828,588.05. Following 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. Insiders own 4.75% of the company’s stock.
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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