Alkermes PLC (NASDAQ:ALKS) Posts Earnings Results, Beats Expectations By $0.02 EPS
Alkermes PLC (NASDAQ:ALKS) announced its quarterly earnings data on Thursday. The company reported $0.01 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.02, MarketWatch Earnings reports. The business had revenue of $218.80 million for the quarter, compared to analyst estimates of $216.54 million. Alkermes PLC had a negative net margin of 25.61% and a negative return on equity of 9.76%. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.01) earnings per share.
Alkermes PLC (NASDAQ:ALKS) traded down 4.53% during mid-day trading on Thursday, reaching $54.96. 1,377,525 shares of the company’s stock traded hands. The stock’s market cap is $8.42 billion. The company has a 50 day moving average price of $58.50 and a 200-day moving average price of $57.50. Alkermes PLC has a 12 month low of $41.93 and a 12 month high of $63.40.
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ALKS has been the topic of a number of research reports. Jefferies Group LLC reissued a “buy” rating and issued a $70.00 price objective on shares of Alkermes PLC in a research report on Monday, April 3rd. Morgan Stanley reissued an “equal weight” rating and issued a $62.00 price objective on shares of Alkermes PLC in a research report on Monday, April 24th. J P Morgan Chase & Co set a $78.00 price objective on shares of Alkermes PLC and gave the stock a “buy” rating in a research report on Thursday, April 27th. Cowen and Company reissued a “buy” rating on shares of Alkermes PLC in a research report on Friday, April 28th. Finally, Credit Suisse Group set a $70.00 price objective on shares of Alkermes PLC and gave the stock a “buy” rating in a research report on Friday, May 19th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. Alkermes PLC presently has a consensus rating of “Hold” and an average target price of $62.55.
In other news, insider Shane Cooke sold 10,000 shares of Alkermes PLC stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $60.33, for a total transaction of $603,300.00. Following the sale, the insider now directly owns 84,708 shares in the company, valued at approximately $5,110,433.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul J. Mitchell sold 1,500 shares of Alkermes PLC stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $58.11, for a total value of $87,165.00. Following the sale, the director now owns 9,500 shares in the company, valued at $552,045. The disclosure for this sale can be found here. Insiders have sold a total of 139,500 shares of company stock worth $8,086,675 over the last quarter. Company insiders own 5.34% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its stake in Alkermes PLC by 23.6% in the first quarter. Russell Investments Group Ltd. now owns 9,835 shares of the company’s stock worth $575,000 after buying an additional 1,877 shares during the last quarter. New Jersey Better Educational Savings Trust acquired a new stake in Alkermes PLC during the first quarter worth approximately $410,000. First Quadrant L P CA acquired a new stake in Alkermes PLC during the first quarter worth approximately $3,704,000. First Citizens Bank & Trust Co. acquired a new stake in Alkermes PLC during the first quarter worth approximately $730,000. Finally, Acadian Asset Management LLC boosted its stake in Alkermes PLC by 545.9% in the first quarter. Acadian Asset Management LLC now owns 33,438 shares of the company’s stock worth $1,956,000 after buying an additional 28,261 shares during the last quarter. Institutional investors own 97.79% of the company’s stock.
Alkermes PLC Company Profile
Alkermes plc is a biopharmaceutical company. The Company is engaged in the researching, developing and commercializing pharmaceutical products that are designed to address medical needs of patients in therapeutic areas. The Company has a portfolio of marketed drug products and a clinical pipeline of products that address central nervous system (CNS) disorders, such as schizophrenia, depression, addiction and multiple sclerosis (MS).
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