ValuEngine cut shares of Alkermes PLC (NASDAQ:ALKS) from a hold rating to a sell rating in a research note released on Thursday.

A number of other research firms also recently weighed in on ALKS. Jefferies Group LLC reissued a buy rating and set a $70.00 price target on shares of Alkermes PLC in a research report on Monday, April 3rd. J P Morgan Chase & Co set a $78.00 price target on shares of Alkermes PLC and gave the stock a buy rating in a research report on Saturday, July 1st. Credit Suisse Group reissued a buy rating and set a $70.00 price target on shares of Alkermes PLC in a research report on Wednesday, June 7th. Cowen and Company reissued a buy rating on shares of Alkermes PLC in a research report on Friday, April 28th. Finally, Morgan Stanley reissued an equal weight rating and set a $62.00 price target on shares of Alkermes PLC in a research report on Monday, April 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. Alkermes PLC currently has a consensus rating of Hold and a consensus target price of $62.20.

Alkermes PLC (NASDAQ:ALKS) opened at 55.22 on Thursday. Alkermes PLC has a 52 week low of $41.93 and a 52 week high of $63.40. The company has a 50-day moving average of $58.22 and a 200-day moving average of $57.44. The stock’s market cap is $8.48 billion.

Alkermes PLC (NASDAQ:ALKS) last issued its quarterly earnings data on Thursday, July 27th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 9.11%. The company had revenue of $218.80 million during the quarter, compared to the consensus estimate of $216.54 million. During the same quarter last year, the company earned ($0.01) earnings per share. Alkermes PLC’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, analysts predict that Alkermes PLC will post ($0.04) EPS for the current fiscal year.

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In related news, Director Richard F. Pops sold 25,000 shares of the firm’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $57.29, for a total transaction of $1,432,250.00. Following the transaction, the director now directly owns 655,406 shares in the company, valued at $37,548,209.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shane Cooke sold 6,500 shares of the firm’s stock in a transaction on Thursday, May 4th. The stock was sold at an average price of $60.05, for a total value of $390,325.00. Following the transaction, the insider now owns 78,448 shares in the company, valued at $4,710,802.40. The disclosure for this sale can be found here. Insiders have sold 139,500 shares of company stock worth $8,086,675 over the last 90 days. 5.34% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in ALKS. FMR LLC boosted its position in shares of Alkermes PLC by 0.4% in the first quarter. FMR LLC now owns 22,882,118 shares of the company’s stock valued at $1,338,604,000 after buying an additional 86,546 shares during the period. Creative Planning boosted its position in shares of Alkermes PLC by 16.2% in the first quarter. Creative Planning now owns 18,012 shares of the company’s stock valued at $1,054,000 after buying an additional 2,510 shares during the period. Sei Investments Co. boosted its position in shares of Alkermes PLC by 32.6% in the first quarter. Sei Investments Co. now owns 90,325 shares of the company’s stock valued at $5,284,000 after buying an additional 22,228 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in shares of Alkermes PLC by 4.8% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 17,505 shares of the company’s stock valued at $1,024,000 after buying an additional 795 shares during the period. Finally, Capstone Asset Management Co. boosted its position in shares of Alkermes PLC by 8.0% in the first quarter. Capstone Asset Management Co. now owns 6,585 shares of the company’s stock valued at $385,000 after buying an additional 490 shares during the period. Hedge funds and other institutional investors own 97.79% of the company’s stock.

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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Analyst Recommendations for Alkermes PLC (NASDAQ:ALKS)

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