Alkermes Plc (NASDAQ:ALKS) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Alkermes Plc (NASDAQ:ALKS) have been given an average rating of “Hold” by the sixteen ratings firms that are currently covering the firm, Marketbeat.com reports. Thirteen research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $21.23.

A number of equities analysts recently weighed in on ALKS shares. HC Wainwright reaffirmed a “neutral” rating and issued a $23.00 target price (down from $25.00) on shares of Alkermes in a research note on Thursday, April 30th. Morgan Stanley reduced their target price on shares of Alkermes from $20.00 to $16.00 and set an “equal weight” rating for the company in a research note on Thursday, April 2nd. Stifel Nicolaus reduced their price objective on shares of Alkermes from $20.00 to $17.00 and set a “hold” rating for the company in a research note on Wednesday, April 29th. Piper Sandler reduced their price objective on shares of Alkermes from $22.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, April 29th. Finally, BidaskClub upgraded shares of Alkermes from a “hold” rating to a “buy” rating in a research note on Tuesday, June 23rd.

In other news, CEO Richard F. Pops sold 75,000 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $15.00, for a total value of $1,125,000.00. Following the sale, the chief executive officer now directly owns 834,094 shares of the company’s stock, valued at approximately $12,511,410. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Richard F. Pops sold 50,000 shares of the stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $14.63, for a total transaction of $731,500.00. Following the completion of the transaction, the chief executive officer now directly owns 809,094 shares in the company, valued at $11,837,045.22. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 174,250 shares of company stock worth $2,587,688. 4.49% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in ALKS. Sarissa Capital Management LP raised its holdings in Alkermes by 89.0% in the 1st quarter. Sarissa Capital Management LP now owns 7,193,000 shares of the company’s stock valued at $103,723,000 after acquiring an additional 3,388,000 shares during the period. Maverick Capital Ltd. bought a new position in shares of Alkermes during the first quarter worth approximately $35,969,000. Camber Capital Management LP increased its holdings in shares of Alkermes by 46.7% during the first quarter. Camber Capital Management LP now owns 6,050,000 shares of the company’s stock worth $87,241,000 after purchasing an additional 1,925,000 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Alkermes by 35.4% during the fourth quarter. Renaissance Technologies LLC now owns 6,636,753 shares of the company’s stock worth $135,390,000 after purchasing an additional 1,735,545 shares during the period. Finally, Norges Bank bought a new position in shares of Alkermes during the fourth quarter worth approximately $33,046,000. 97.90% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ ALKS traded down $0.17 on Friday, reaching $19.59. The company had a trading volume of 938,137 shares, compared to its average volume of 1,470,596. The firm has a market capitalization of $3.11 billion, a price-to-earnings ratio of -22.26 and a beta of 1.50. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.36 and a current ratio of 2.69. Alkermes has a 1-year low of $11.98 and a 1-year high of $25.35. The company’s fifty day moving average is $17.23 and its 200-day moving average is $17.45.

Alkermes (NASDAQ:ALKS) last announced its earnings results on Wednesday, April 29th. The company reported $0.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.07. The firm had revenue of $246.20 million during the quarter, compared to analyst estimates of $230.53 million. Alkermes had a negative net margin of 11.63% and a positive return on equity of 4.99%. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.17) EPS. On average, research analysts forecast that Alkermes will post -0.94 earnings per share for the current year.

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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Analyst Recommendations for Alkermes (NASDAQ:ALKS)

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