Alkermes (ALKS) Stock Rating Lowered by BidaskClub

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.

Alkermes (NASDAQ:ALKS) last issued its quarterly earnings data on Thursday, October 26th. The company reported $0.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.04. The business had revenue of $217.40 million for the quarter, compared to the consensus estimate of $231.29 million. Alkermes had a negative return on equity of 12.18% and a negative net margin of 16.69%. The firm’s revenue was up 20.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.09) EPS. equities research analysts predict that Alkermes will post -0.59 EPS for the current fiscal year.

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.

COPYRIGHT VIOLATION NOTICE: This piece of content was originally posted by American Banking News and is the sole property of of American Banking News. If you are reading this piece of content on another domain, it was stolen and republished in violation of United States & international trademark & copyright law. The legal version of this piece of content can be read at https://www.americanbankingnews.com/2018/01/20/alkermes-alks-stock-rating-lowered-by-bidaskclub.html.

About Alkermes

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).

Analyst Recommendations for Alkermes (NASDAQ:ALKS)

Receive News & Ratings for Alkermes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alkermes and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply