BidaskClub lowered shares of Alkermes (NASDAQ:ALKS) from a hold rating to a sell rating in a research note released on Tuesday morning, BidAskClub reports.
Other analysts have also recently issued reports about the company. Zacks Investment Research raised Alkermes from a hold rating to a buy rating and set a $42.00 price target on the stock in a research report on Monday, April 8th. Citigroup cut Alkermes from a buy rating to a neutral rating and dropped their price target for the stock from $62.00 to $33.00 in a research report on Wednesday, May 1st. ValuEngine upgraded shares of Alkermes from a sell rating to a hold rating in a report on Monday, April 1st. Stifel Nicolaus decreased their price objective on shares of Alkermes from $40.00 to $34.00 and set a hold rating for the company in a report on Friday, February 15th. Finally, JPMorgan Chase & Co. restated a buy rating on shares of Alkermes in a report on Wednesday, April 10th. Six equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of Hold and an average target price of $40.50.
Get Alkermes alerts: Shares of ALKS opened at $24.85 on Tuesday. The company has a current ratio of 2.94, a quick ratio of 2.65 and a debt-to-equity ratio of 0.25. Alkermes has a 52 week low of $24.81 and a 52 week high of $51.70. The company has a market capitalization of $3.97 billion, a PE ratio of -355.00 and a beta of 1.72.
Alkermes (NASDAQ:ALKS) last issued its quarterly earnings results on Thursday, April 25th. The company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.21. Alkermes had a negative return on equity of 2.08% and a negative net margin of 15.86%. The firm had revenue of $223.10 million for the quarter, compared to analysts’ expectations of $218.84 million. During the same period in the previous year, the firm posted ($0.09) EPS. The business’s revenue for the quarter was down .9% compared to the same quarter last year. As a group, analysts forecast that Alkermes will post -0.37 earnings per share for the current fiscal year.
In related news, Director Paul J. Mitchell sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $33.48, for a total value of $33,480.00. Following the completion of the transaction, the director now directly owns 8,000 shares in the company, valued at approximately $267,840. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink . Also, SVP Michael J. Landine sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $32.07, for a total transaction of $641,400.00. Following the completion of the transaction, the senior vice president now owns 205,122 shares of the company’s stock, valued at $6,578,262.54. The disclosure for this sale can be found here . Over the last 90 days, insiders sold 162,373 shares of company stock valued at $5,362,950. 4.71% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its stake in Alkermes by 5.4% in the third quarter. Dimensional Fund Advisors LP now owns 228,224 shares of the company’s stock valued at $9,688,000 after acquiring an additional 11,667 shares in the last quarter. LPL Financial LLC acquired a new stake in shares of Alkermes in the third quarter worth approximately $212,000. Vanguard Group Inc boosted its position in shares of Alkermes by 1.5% in the third quarter. Vanguard Group Inc now owns 13,224,145 shares of the company’s stock worth $561,231,000 after acquiring an additional 196,776 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in shares of Alkermes in the fourth quarter worth approximately $523,000. Finally, Virtu Financial LLC boosted its position in shares of Alkermes by 167.1% in the fourth quarter. Virtu Financial LLC now owns 14,891 shares of the company’s stock worth $439,000 after acquiring an additional 9,315 shares during the last quarter. Institutional investors own 97.55% of the company’s stock.
About Alkermes
Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in various therapeutic areas in the United States, Ireland, and internationally. The company's marketed products include ARISTADA (aripiprazole lauroxil), an extended-release intramuscular injectable suspension for the treatment of schizophrenia; VIVITROL (naltrexone for extended-release injectable suspension) for the treatment of alcohol and opioid dependence; RISPERDAL CONSTA for the treatment of schizophrenia and bipolar I disorder; INVEGA SUSTENNA for the treatment of schizophrenia and schizoaffective disorder; XEPLION, INVEGA TRINZA, and TREVICTA for treating schizophrenia; and AMPYRA (dalfampridine)/FAMPYRA (fampridine) to enhance walking in adults with multiple sclerosis (MS) who have walking disability.
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