Alkermes (ALKS) Downgraded to “D” at TheStreet

TheStreet lowered shares of Alkermes (NASDAQ:ALKS) from a c- rating to a d rating in a report published on Friday, TheStreetRatingsTable reports.

Other analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Alkermes from a hold rating to a buy rating and set a $42.00 price target on the stock in a research report on Monday, April 8th. Citigroup lowered shares of Alkermes from a buy rating to a neutral rating and lowered their price target for the company from $62.00 to $33.00 in a research report on Wednesday, May 1st. ValuEngine raised shares of Alkermes from a sell rating to a hold rating in a research report on Monday, April 1st. BidaskClub lowered shares of Alkermes from a hold rating to a sell rating in a research report on Tuesday, May 14th. Finally, Stifel Nicolaus lowered their price target on shares of Alkermes from $40.00 to $34.00 and set a hold rating on the stock in a research report on Friday, February 15th. Six equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $40.50.

Alkermes stock opened at $24.54 on Friday. Alkermes has a fifty-two week low of $24.36 and a fifty-two week high of $51.70. The stock has a market cap of $3.90 billion, a P/E ratio of -350.57 and a beta of 1.72. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.65 and a current ratio of 2.94.

Alkermes (NASDAQ:ALKS) last released its quarterly earnings results on Thursday, April 25th. The company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.38) by $0.21. The business had revenue of $223.10 million for the quarter, compared to analysts’ expectations of $218.84 million. Alkermes had a negative net margin of 15.86% and a negative return on equity of 2.08%. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.09) earnings per share. As a group, research analysts anticipate that Alkermes will post -0.37 earnings per share for the current year.

In related news, SVP Michael J. Landine sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $32.07, for a total transaction of $641,400.00. Following the sale, the senior vice president now owns 205,122 shares of the company’s stock, valued at approximately $6,578,262.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP David Joseph Gaffin sold 5,373 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $26.89, for a total transaction of $144,479.97. Following the sale, the senior vice president now directly owns 53,923 shares in the company, valued at approximately $1,449,989.47. The disclosure for this sale can be found here. Insiders have sold a total of 162,373 shares of company stock worth $5,362,950 in the last ninety days. 4.71% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the stock. Meeder Asset Management Inc. increased its holdings in shares of Alkermes by 155.3% in the 4th quarter. Meeder Asset Management Inc. now owns 1,810 shares of the company’s stock worth $53,000 after buying an additional 1,101 shares during the last quarter. Pendal Group Ltd bought a new position in shares of Alkermes in the 1st quarter worth $82,000. Globeflex Capital L P bought a new position in shares of Alkermes in the 1st quarter worth $148,000. Quantamental Technologies LLC bought a new position in shares of Alkermes in the 4th quarter worth $140,000. Finally, LPL Financial LLC bought a new position in shares of Alkermes in the 3rd quarter worth $212,000. 97.55% of the stock is currently owned by institutional investors and hedge funds.

About Alkermes

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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