Alkermes (NASDAQ:ALKS) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.
Other analysts also recently issued research reports about the company. Zacks Investment Research raised Alkermes from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a research note on Monday, January 8th. Credit Suisse Group set a $66.00 price objective on Alkermes and gave the stock a “buy” rating in a research note on Tuesday, November 28th. JPMorgan Chase & Co. set a $78.00 price objective on Alkermes and gave the stock a “buy” rating in a research note on Friday, October 27th. Mizuho set a $81.00 price objective on Alkermes and gave the stock a “buy” rating in a research note on Saturday, October 21st. Finally, Barclays downgraded Alkermes from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $66.00 to $50.00 in a research note on Monday, October 16th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $63.33.
Shares of Alkermes (NASDAQ ALKS) traded up $0.91 during trading on Friday, reaching $57.03. The company had a trading volume of 716,716 shares, compared to its average volume of 922,107. The firm has a market cap of $8,910.00, a P/E ratio of -51.38 and a beta of 2.13. Alkermes has a twelve month low of $46.42 and a twelve month high of $63.40. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.05 and a quick ratio of 2.72.
In related news, insider Shane Cooke sold 6,207 shares of Alkermes stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $60.22, for a total transaction of $373,785.54. Following the completion of the transaction, the insider now owns 80,915 shares in the company, valued at $4,872,701.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Iain Michael Brown sold 10,652 shares of Alkermes stock in a transaction dated Friday, December 29th. The stock was sold at an average price of $54.81, for a total value of $583,836.12. The disclosure for this sale can be found here. Insiders sold a total of 142,624 shares of company stock worth $7,633,176 in the last three months. Company insiders own 5.34% of the company’s stock.
A number of institutional investors have recently bought and sold shares of ALKS. M&T Bank Corp boosted its holdings in shares of Alkermes by 2.9% during the second quarter. M&T Bank Corp now owns 7,135 shares of the company’s stock worth $413,000 after acquiring an additional 200 shares during the period. Toronto Dominion Bank boosted its holdings in shares of Alkermes by 12.7% during 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 during the period. Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Alkermes by 0.4% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 78,620 shares of the company’s stock worth $4,558,000 after acquiring an additional 292 shares during the period. People s United Financial Inc. boosted its holdings in shares of Alkermes by 3.3% during the second quarter. People s United Financial Inc. now owns 9,389 shares of the company’s stock worth $544,000 after acquiring an additional 297 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Alkermes by 7.6% during the second quarter. The Manufacturers Life Insurance Company now owns 5,804 shares of the company’s stock worth $336,000 after acquiring an additional 409 shares during the period. Institutional investors and hedge funds own 99.66% of the company’s stock.
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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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