Alkermes’ (ALKS) “Buy” Rating Reaffirmed at JPMorgan Chase & Co.

Alkermes (NASDAQ:ALKS)‘s stock had its “buy” rating reiterated by equities research analysts at JPMorgan Chase & Co. in a research note issued on Monday.

Several other research analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Alkermes from a “buy” rating to a “hold” rating in a report on Monday, May 28th. Citigroup raised shares of Alkermes from a “neutral” rating to a “buy” rating in a report on Thursday, May 31st. BidaskClub raised shares of Alkermes from a “hold” rating to a “buy” rating in a report on Wednesday, March 28th. Credit Suisse Group reaffirmed a “buy” rating and issued a $53.00 price target on shares of Alkermes in a report on Monday, April 2nd. They noted that the move was a valuation call. Finally, ValuEngine raised shares of Alkermes from a “strong sell” rating to a “sell” rating in a report on Thursday, May 31st. Two research analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $57.15.

NASDAQ:ALKS opened at $41.91 on Monday. The firm has a market cap of $6.38 billion, a price-to-earnings ratio of -113.27 and a beta of 1.81. Alkermes has a 1 year low of $39.54 and a 1 year high of $71.22. The company has a current ratio of 2.83, a quick ratio of 2.52 and a debt-to-equity ratio of 0.24.

Alkermes (NASDAQ:ALKS) last posted its earnings results on Thursday, April 26th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.02). The company had revenue of $225.20 million for the quarter, compared to analysts’ expectations of $219.51 million. Alkermes had a negative return on equity of 3.13% and a negative net margin of 16.18%. The company’s revenue was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.18) EPS. analysts predict that Alkermes will post -0.66 earnings per share for the current fiscal year.

In related news, Director Paul J. Mitchell sold 1,000 shares of the stock in a transaction on Friday, June 1st. The stock was sold at an average price of $47.34, for a total value of $47,340.00. Following the transaction, the director now owns 8,000 shares of the company’s stock, valued at $378,720. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP James M. Frates sold 16,842 shares of the stock in a transaction on Tuesday, June 12th. The shares were sold at an average price of $50.00, for a total value of $842,100.00. The disclosure for this sale can be found here. In the last three months, insiders sold 227,842 shares of company stock worth $10,361,840. 5.51% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. increased its stake in Alkermes by 18.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 4,054,645 shares of the company’s stock valued at $221,911,000 after acquiring an additional 628,299 shares during the last quarter. Geode Capital Management LLC increased its stake in Alkermes by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 1,333,429 shares of the company’s stock valued at $72,934,000 after acquiring an additional 21,608 shares during the last quarter. Frontier Capital Management Co. LLC increased its stake in Alkermes by 7.4% in the first quarter. Frontier Capital Management Co. LLC now owns 720,866 shares of the company’s stock valued at $41,781,000 after acquiring an additional 49,818 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in Alkermes by 8.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 536,788 shares of the company’s stock valued at $31,113,000 after acquiring an additional 43,273 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in Alkermes by 1.8% in the first quarter. Wells Fargo & Company MN now owns 363,014 shares of the company’s stock valued at $21,041,000 after acquiring an additional 6,559 shares during the last quarter.

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; INVEGA SUSTENNA for the treatment of schizophrenia and schizoaffective disorder; XEPLION, INVEGA TRINZA, and TREVICTA for treating schizophrenia; RISPERDAL CONSTA for the treatment of schizophrenia and bipolar I disorder; AMPYRA (dalfampridine)/FAMPYRA (fampridine) to enhance walking in adults with multiple sclerosis (MS) who have walking disability; and BYDUREON (exenatide extended-release for injectable suspension) and BYDUREON BCise for the treatment of type 2 diabetes.

Analyst Recommendations for Alkermes (NASDAQ:ALKS)

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