Barclays PLC Lowers Alkermes PLC (ALKS) to Equal Weight
Barclays PLC downgraded shares of Alkermes PLC (NASDAQ:ALKS) from an overweight rating to an equal weight rating in a research report sent to investors on Monday, MarketBeat reports. Barclays PLC currently has $50.00 price objective on the stock, down from their previous price objective of $66.00.
Several other analysts have also recently issued reports on the company. ValuEngine upgraded Alkermes PLC from a sell rating to a hold rating in a research report on Friday, September 1st. Jefferies Group LLC set a $69.00 target price on Alkermes PLC and gave the stock a buy rating in a research report on Friday, August 25th. BidaskClub cut Alkermes PLC from a sell rating to a strong sell rating in a research report on Wednesday, August 9th. Zacks Investment Research upgraded Alkermes PLC from a sell rating to a hold rating in a research report on Wednesday, August 2nd. Finally, J P Morgan Chase & Co set a $78.00 target price on Alkermes PLC and gave the stock a buy rating in a research report on Saturday, July 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $62.56.
Alkermes PLC (NASDAQ ALKS) opened at 51.09 on Monday. Alkermes PLC has a 52 week low of $42.75 and a 52 week high of $63.40. The firm has a 50-day moving average price of $51.16 and a 200 day moving average price of $55.37. The company’s market cap is $7.85 billion.
Alkermes PLC (NASDAQ:ALKS) last released its earnings results on Thursday, July 27th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.02. Alkermes PLC had a negative return on equity of 9.12% and a negative net margin of 24.33%. The firm had revenue of $218.80 million during the quarter, compared to analysts’ expectations of $216.54 million. During the same quarter last year, the business posted ($0.01) earnings per share. The firm’s revenue was up 12.1% on a year-over-year basis. Analysts expect that Alkermes PLC will post ($0.04) EPS for the current fiscal year.
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In related news, CAO Kathryn L. Biberstein sold 13,566 shares of the stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $51.29, for a total transaction of $695,800.14. Following the completion of the transaction, the chief accounting officer now directly owns 70,455 shares of the company’s stock, valued at $3,613,636.95. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Paul J. Mitchell sold 1,500 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $54.91, for a total value 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 18,066 shares of company stock valued at $930,280. 5.34% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the company. Toronto Dominion Bank lifted its stake in shares of Alkermes PLC by 12.7% in the 2nd quarter. Toronto Dominion Bank now owns 1,875 shares of the company’s stock valued at $109,000 after purchasing an additional 212 shares during the last quarter. Daiwa SB Investments Ltd. bought a new stake in shares of Alkermes PLC in the 2nd quarter valued at approximately $166,000. Greenwood Capital Associates LLC lifted its stake in shares of Alkermes PLC by 1.1% in the 2nd quarter. Greenwood Capital Associates LLC now owns 3,770 shares of the company’s stock valued at $219,000 after purchasing an additional 41 shares during the last quarter. US Bancorp DE lifted its stake in shares of Alkermes PLC by 366.4% in the 2nd quarter. US Bancorp DE now owns 3,974 shares of the company’s stock valued at $231,000 after purchasing an additional 3,122 shares during the last quarter. Finally, Insight Capital Research & Management Inc. bought a new stake in shares of Alkermes PLC in the 2nd quarter valued at approximately $232,000. 98.51% of the stock is owned by institutional investors and hedge funds.
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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