Alkermes PLC (ALKS) Given a $81.00 Price Target at Mizuho
Alkermes PLC (NASDAQ:ALKS) has been assigned a $81.00 target price by stock analysts at Mizuho in a report released on Saturday. The firm presently has a “buy” rating on the stock. Mizuho’s target price suggests a potential upside of 60.14% from the company’s current price.
Other equities research analysts have also issued research reports about the stock. Jefferies Group LLC set a $69.00 price target on shares of Alkermes PLC and gave the company a “buy” rating in a report on Friday, August 25th. J P Morgan Chase & Co set a $78.00 price target on shares of Alkermes PLC and gave the company a “buy” rating in a report on Saturday, July 1st. Barclays PLC lowered shares of Alkermes PLC from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $66.00 to $50.00 in a report on Monday, October 16th. ValuEngine upgraded shares of Alkermes PLC from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Finally, Zacks Investment Research upgraded shares of Alkermes PLC from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $64.40.
Shares of Alkermes PLC (NASDAQ ALKS) traded up 0.04% during mid-day trading on Friday, reaching $50.58. 809,148 shares of the company were exchanged. Alkermes PLC has a 12 month low of $48.90 and a 12 month high of $63.40. The company’s 50 day moving average price is $51.19 and its 200 day moving average price is $55.28. The firm’s market capitalization is $7.77 billion.
Alkermes PLC (NASDAQ:ALKS) last released its quarterly earnings results on Thursday, July 27th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.02. Alkermes PLC had a negative net margin of 24.33% and a negative return on equity of 9.12%. The business had revenue of $218.80 million for the quarter, compared to analyst estimates of $216.54 million. During the same quarter in the previous year, the business earned ($0.01) earnings per share. The firm’s revenue was up 12.1% compared to the same quarter last year. Equities analysts anticipate that Alkermes PLC will post ($0.04) earnings per share for the current year.
In other Alkermes PLC news, Director Paul J. Mitchell sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $50.77, for a total value of $76,155.00. Following the transaction, the director now owns 9,500 shares in the company, valued at approximately $482,315. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Kathryn L. Biberstein sold 13,566 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $51.29, for a total transaction of $695,800.14. Following the completion of the transaction, the chief accounting officer now owns 70,455 shares in the company, valued at approximately $3,613,636.95. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,066 shares of company stock worth $930,280. Company insiders own 5.34% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Toronto Dominion Bank grew its position in Alkermes PLC by 12.7% in the second quarter. Toronto Dominion Bank now owns 1,875 shares of the company’s stock worth $109,000 after acquiring an additional 212 shares in the last quarter. Daiwa SB Investments Ltd. bought a new stake in Alkermes PLC in the second quarter worth approximately $166,000. Greenwood Capital Associates LLC grew its position in Alkermes PLC by 1.1% in the second quarter. Greenwood Capital Associates LLC now owns 3,770 shares of the company’s stock worth $219,000 after acquiring an additional 41 shares in the last quarter. US Bancorp DE grew its position in Alkermes PLC by 366.4% in the second quarter. US Bancorp DE now owns 3,974 shares of the company’s stock worth $231,000 after acquiring an additional 3,122 shares in the last quarter. Finally, Insight Capital Research & Management Inc. bought a new stake in Alkermes PLC in the second quarter worth approximately $232,000. 98.51% of the stock is owned by institutional investors.
About Alkermes PLC
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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