Analysts’ Weekly Ratings Changes for Alkermes PLC (ALKS)
A number of research firms have changed their ratings and price targets for Alkermes PLC (NASDAQ: ALKS):
- 8/9/2017 – Alkermes PLC was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
- 8/2/2017 – Alkermes PLC was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Alkermes posted narrower-than-expected loss in the second quarter of 2017 while sales marginally surpassed estimates. Vivitrol and Aristada are anticipated to be primary growth drivers. While, Vivitrol should benefit from the newly passed legislation, CARA, securing reimbursement and access for Aristada also bodes well. The company also plans to submit a new drug application (NDA) for ALKS 5461 in major depressive disorder and expects to complete the pivotal efficacy of ALKS3831 in schizophrenia. However, Alkermes is highly dependent on manufacturing and/or royalty revenues on sales of products that are commercialized by the company’s partners. Given its history of pipeline setbacks, any obstacle in the process of development of the candidates could weigh heavily on the stock. Stiff competition and dependence on partners remains a threat. Moreover, Alkermes’ shares have underperformed the Zacks classified industry year to date.”
- 7/31/2017 – Alkermes PLC was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
- 7/27/2017 – Alkermes PLC was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
- 7/1/2017 – Alkermes PLC was given a new $78.00 price target on by analysts at J P Morgan Chase & Co. They now have a “buy” rating on the stock.
- 6/13/2017 – Alkermes PLC was downgraded by analysts at Leerink Swann from an “outperform” rating to a “market perform” rating. They now have a $61.00 price target on the stock, down previously from $68.00.
Shares of Alkermes PLC (NASDAQ ALKS) opened at 51.66 on Friday. The stock’s 50 day moving average is $56.93 and its 200 day moving average is $57.29. Alkermes PLC has a 12 month low of $41.93 and a 12 month high of $63.40. The firm’s market capitalization is $7.94 billion.
Alkermes PLC (NASDAQ:ALKS) last released its quarterly earnings results on Thursday, July 27th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates 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 period last year, the firm earned ($0.01) earnings per share. Alkermes PLC’s revenue for the quarter was up 12.1% compared to the same quarter last year. Equities research analysts forecast that Alkermes PLC will post ($0.04) earnings per share for the current fiscal year.
In related news, Director Paul J. Mitchell sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $54.91, for a total transaction of $82,365.00. Following the transaction, the director now directly owns 9,500 shares of the company’s stock, valued at $521,645. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Shane Cooke sold 10,000 shares of the firm’s stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $60.33, for a total transaction of $603,300.00. Following the transaction, the insider now directly owns 84,708 shares in the company, valued at $5,110,433.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 99,500 shares of company stock worth $5,776,365. 5.34% of the stock is owned by insiders.
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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