Alkermes (NASDAQ:ALKS)‘s stock had its “neutral” rating reaffirmed by equities researchers at Cantor Fitzgerald in a note issued to investors on Monday, Marketbeat Ratings reports. They presently have a $41.00 target price on the stock, down from their previous target price of $46.00. Cantor Fitzgerald’s target price would suggest a potential upside of 5.34% from the stock’s current price.
The analysts wrote, “: We reiterate the Neutral rating for ALKS stock and are reducing our PT by $5 to $41. We believe the FDA advisory panel view of the ALKS-5461 NDA is a major setback not only for the drug but also to the ability of ALKS to convince investors that the company can develop proprietary therapies of meaningful commercial potential.””
A number of other analysts also recently weighed in on the stock. Piper Jaffray Companies began coverage on shares of Alkermes in a research report on Monday. They set a “neutral” rating and a $40.00 price target for the company. Stifel Nicolaus decreased their price target on shares of Alkermes from $44.00 to $40.00 and set a “hold” rating for the company in a research report on Friday, November 2nd. Cowen reissued a “buy” rating and set a $58.00 price target on shares of Alkermes in a research report on Tuesday, October 30th. ValuEngine raised shares of Alkermes from a “sell” rating to a “hold” rating in a research report on Friday, October 26th. Finally, Zacks Investment Research raised shares of Alkermes from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research report on Wednesday, October 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. Alkermes presently has a consensus rating of “Buy” and an average target price of $52.08.
ALKS stock opened at $38.92 on Monday. Alkermes has a twelve month low of $36.67 and a twelve month high of $71.22. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.85 and a quick ratio of 2.56. The company has a market cap of $5.86 billion, a PE ratio of 3,774.00 and a beta of 1.61.
Alkermes (NASDAQ:ALKS) last released its quarterly earnings results on Tuesday, October 23rd. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.15. Alkermes had a negative net margin of 13.23% and a negative return on equity of 0.12%. The business had revenue of $248.72 million during the quarter, compared to the consensus estimate of $236.70 million. During the same quarter last year, the company earned $0.03 earnings per share. The business’s quarterly revenue was up 14.4% compared to the same quarter last year. On average, analysts anticipate that Alkermes will post -0.5 EPS for the current year.
In related news, Director Paul J. Mitchell sold 1,000 shares of the firm’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $42.42, for a total transaction of $42,420.00. Following the transaction, the director now directly owns 8,000 shares in the company, valued at $339,360. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 3,000 shares of company stock worth $124,510 over the last 90 days. 5.51% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in ALKS. Dimensional Fund Advisors LP lifted its stake in Alkermes by 5.5% during the first quarter. Dimensional Fund Advisors LP now owns 212,275 shares of the company’s stock worth $12,303,000 after purchasing an additional 11,091 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Alkermes by 5.0% in the first quarter. Principal Financial Group Inc. now owns 47,703 shares of the company’s stock valued at $2,764,000 after buying an additional 2,264 shares during the last quarter. LPL Financial LLC bought a new stake in Alkermes in the first quarter valued at $426,000. Millennium Management LLC lifted its stake in Alkermes by 292.1% in the first quarter. Millennium Management LLC now owns 109,038 shares of the company’s stock valued at $6,320,000 after buying an additional 81,231 shares during the last quarter. Finally, Royal Bank of Canada lifted its stake in Alkermes by 104.2% in the first quarter. Royal Bank of Canada now owns 74,653 shares of the company’s stock valued at $4,327,000 after buying an additional 38,095 shares during the last quarter.
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.
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