Alkermes Plc (NASDAQ:ALKS) Receives $26.00 Consensus Target Price from Analysts

Shares of Alkermes Plc (NASDAQ:ALKS) have been given a consensus recommendation of “Hold” by the fourteen analysts that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $26.00.

A number of analysts recently commented on the stock. HC Wainwright lowered their price objective on shares of Alkermes from $28.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. BidaskClub cut shares of Alkermes from a “sell” rating to a “strong sell” rating in a research report on Friday, December 20th. Stifel Nicolaus lowered their price objective on shares of Alkermes from $25.00 to $23.00 and set a “hold” rating for the company in a research report on Wednesday, October 23rd. Cowen set a $34.00 price objective on shares of Alkermes and gave the company a “buy” rating in a research report on Friday, September 13th. Finally, Zacks Investment Research cut shares of Alkermes from a “strong-buy” rating to a “hold” rating and set a $22.00 price objective for the company. in a research report on Thursday, January 2nd.

Shares of ALKS stock traded down $0.18 during trading hours on Friday, reaching $19.11. The company had a trading volume of 35,401 shares, compared to its average volume of 1,043,837. The company has a 50 day moving average of $20.64 and a 200 day moving average of $20.83. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.69 and a quick ratio of 2.42. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of -273.00 and a beta of 1.76. Alkermes has a 1-year low of $17.11 and a 1-year high of $37.75.

Alkermes (NASDAQ:ALKS) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.04) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.21) by $0.17. Alkermes had a negative return on equity of 6.08% and a negative net margin of 18.71%. The company had revenue of $255.24 million for the quarter, compared to the consensus estimate of $252.65 million. During the same quarter in the prior year, the business posted $0.07 EPS. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. As a group, sell-side analysts forecast that Alkermes will post -0.17 EPS for the current fiscal year.

In other news, CEO Richard F. Pops sold 100,000 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $19.50, for a total value of $1,950,000.00. Following the completion of the transaction, the chief executive officer now owns 816,433 shares in the company, valued at approximately $15,920,443.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Richard F. Pops sold 69,795 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $19.81, for a total value of $1,382,638.95. Following the completion of the transaction, the chief executive officer now owns 786,228 shares of the company’s stock, valued at approximately $15,575,176.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 209,795 shares of company stock valued at $4,121,839. Corporate insiders own 4.71% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Advisor Group Inc. grew its holdings in shares of Alkermes by 74.1% in the 2nd quarter. Advisor Group Inc. now owns 1,993 shares of the company’s stock valued at $44,000 after acquiring an additional 848 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Alkermes in the 2nd quarter valued at about $67,000. Meeder Asset Management Inc. grew its holdings in shares of Alkermes by 276.3% in the 3rd quarter. Meeder Asset Management Inc. now owns 8,087 shares of the company’s stock valued at $158,000 after acquiring an additional 5,938 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Alkermes in the 2nd quarter valued at about $163,000. Finally, Virtu Financial LLC bought a new position in shares of Alkermes in the 3rd quarter valued at about $210,000. Institutional investors own 94.65% of the company’s stock.

Alkermes Company Profile

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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