Alkermes (NASDAQ:ALKS)‘s stock had its “hold” rating reiterated by research analysts at Cantor Fitzgerald in a report issued on Tuesday. They currently have a $50.00 price target on the stock. Cantor Fitzgerald’s price objective would indicate a potential downside of 25.66% from the stock’s current price.
The analysts wrote, “Story still mainly about fate of ALKS 5461. With NDA recently filed, management believes a potential FDA Adcom and regulatory action could occur by YE18. The hiring of an additional 200 sales reps in 2018 disclosed on the 4Q17 results call seems aggressive to us given uncertainty about approval (unless intended to portray confidence), though we are mindful that they could be shifted to Vivitrol/Aristada. We suppose, too, that the expansion could be done in a step- wise manner.””
Other equities analysts also recently issued research reports about the stock. BidaskClub raised shares of Alkermes from a “sell” rating to a “hold” rating in a research note on Friday, January 26th. Barclays set a $50.00 price target on shares of Alkermes and gave the stock a “hold” rating in a research note on Thursday, October 26th. Citigroup set a $62.00 price target on shares of Alkermes and gave the stock a “hold” rating in a research note on Thursday, February 15th. Credit Suisse Group increased their price target on shares of Alkermes from $66.00 to $70.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, ValuEngine downgraded shares of Alkermes from a “hold” rating to a “sell” rating in a research note on Monday, October 23rd. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $64.42.
Shares of Alkermes (ALKS) traded up $3.51 during midday trading on Tuesday, reaching $67.26. 2,687,400 shares of the company were exchanged, compared to its average volume of 1,085,961. Alkermes has a 1 year low of $46.42 and a 1 year high of $71.22. The firm has a market capitalization of $10,358.64, a price-to-earnings ratio of -65.30 and a beta of 1.94. 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 (NASDAQ:ALKS) last announced its earnings results on Wednesday, February 14th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.32. Alkermes had a negative net margin of 17.48% and a negative return on equity of 4.32%. The firm had revenue of $275.37 million for the quarter, compared to analyst estimates of $251.23 million. During the same quarter last year, the business earned $0.02 earnings per share. Alkermes’s revenue was up 29.0% compared to the same quarter last year. analysts anticipate that Alkermes will post -1.03 EPS for the current fiscal year.
In other news, insider Shane Cooke sold 72,793 shares of the firm’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $60.55, for a total value of $4,407,616.15. Following the transaction, the insider now owns 147,501 shares of the company’s stock, valued at approximately $8,931,185.55. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP James M. Frates sold 20,932 shares of the firm’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $50.51, for a total transaction of $1,057,275.32. Following the completion of the transaction, the senior vice president now directly owns 164,971 shares in the company, valued at approximately $8,332,685.21. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 135,485 shares of company stock worth $8,227,502. 5.34% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the company. Toronto Dominion Bank raised its stake in shares of Alkermes 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 acquiring an additional 212 shares during the period. SG Americas Securities LLC purchased a new position in shares of Alkermes in the 4th quarter valued at $114,000. Quantbot Technologies LP purchased a new position in shares of Alkermes in the 3rd quarter valued at $126,000. Virtu Financial LLC purchased a new position in shares of Alkermes in the 3rd quarter valued at $201,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Alkermes in the 3rd quarter valued at $214,000.
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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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