Alkermes PLC (NASDAQ:ALKS) received a $62.00 price target from equities research analysts at Citigroup Inc. in a note issued to investors on Thursday, October 26th. The brokerage presently has a “hold” rating on the stock. Citigroup Inc.’s price objective suggests a potential upside of 29.57% from the stock’s current price.
A number of other equities analysts have also weighed in on the company. Mizuho set a $81.00 target price on Alkermes PLC and gave the stock a “buy” rating in a research note on Saturday, October 21st. Zacks Investment Research upgraded Alkermes PLC from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. ValuEngine lowered Alkermes PLC from a “hold” rating to a “sell” rating in a research note on Monday, October 23rd. Jefferies Group LLC set a $69.00 target price on Alkermes PLC and gave the stock a “buy” rating in a research note on Friday, August 25th. Finally, Barclays PLC lowered Alkermes PLC from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $66.00 to $50.00 in a research report on Monday, October 16th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. Alkermes PLC presently has a consensus rating of “Hold” and a consensus price target of $63.55.
Shares of Alkermes PLC (NASDAQ:ALKS) traded down $0.20 on Thursday, reaching $47.85. The company had a trading volume of 1,285,300 shares, compared to its average volume of 831,124. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.72 and a current ratio of 3.05. Alkermes PLC has a twelve month low of $46.80 and a twelve month high of $63.40.
Alkermes PLC (NASDAQ:ALKS) last issued its quarterly earnings data on Thursday, October 26th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.04. The business had revenue of $217.40 million for the quarter, compared to analysts’ expectations of $231.29 million. Alkermes PLC had a negative return on equity of 7.27% and a negative net margin of 20.12%. The firm’s quarterly revenue was up 20.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.09) EPS. research analysts expect that Alkermes PLC will post -0.59 EPS for the current year.
In other news, CAO Kathryn L. Biberstein sold 13,566 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $51.29, for a total value of $695,800.14. Following the completion of the transaction, the chief accounting officer now owns 70,455 shares in the company, valued at approximately $3,613,636.95. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Richard F. Pops sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $48.87, for a total value of $2,443,500.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 102,498 shares of company stock valued at $5,018,010. Company insiders own 5.34% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Toronto Dominion Bank increased its position in Alkermes PLC by 12.7% during the 2nd quarter. Toronto Dominion Bank now owns 1,875 shares of the company’s stock valued at $109,000 after buying an additional 212 shares in the last quarter. Quantbot Technologies LP bought a new position in Alkermes PLC during the 3rd quarter valued at approximately $126,000. Daiwa SB Investments Ltd. bought a new position in Alkermes PLC during the 2nd quarter valued at approximately $166,000. Dynamic Technology Lab Private Ltd bought a new position in Alkermes PLC during the 3rd quarter valued at approximately $214,000. Finally, Trexquant Investment LP bought a new position in Alkermes PLC during the 3rd quarter valued at approximately $218,000. 98.11% of the stock is owned by institutional investors.
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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