Alkermes (NASDAQ:ALKS) Upgraded to Hold at BidaskClub

BidaskClub upgraded shares of Alkermes (NASDAQ:ALKS) from a sell rating to a hold rating in a report issued on Thursday morning, BidAskClub reports.

A number of other analysts have also recently commented on ALKS. Piper Jaffray Companies lowered their target price on shares of Alkermes from $30.00 to $22.00 and set a neutral rating for the company in a research note on Thursday, July 25th. JPMorgan Chase & Co. reiterated a buy rating on shares of Alkermes in a research note on Wednesday, April 10th. ValuEngine cut shares of Alkermes from a hold rating to a sell rating in a research note on Wednesday, May 1st. Citigroup set a $25.00 target price on shares of Alkermes and gave the stock a hold rating in a research note on Friday, July 26th. Finally, Credit Suisse Group set a $28.00 target price on shares of Alkermes and gave the stock a sell rating in a research note on Friday, April 26th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. The company has an average rating of Hold and an average target price of $31.70.

Shares of NASDAQ:ALKS traded down $0.70 during trading on Thursday, reaching $22.30. The stock had a trading volume of 1,083,300 shares, compared to its average volume of 1,167,796. Alkermes has a one year low of $19.85 and a one year high of $46.98. The firm has a market cap of $3.64 billion, a P/E ratio of -318.57 and a beta of 1.83. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.98 and a quick ratio of 2.69. The stock has a 50-day moving average of $22.48.

Alkermes (NASDAQ:ALKS) last released its earnings results on Thursday, July 25th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.20. The company had revenue of $279.90 million during the quarter, compared to analysts’ expectations of $251.40 million. Alkermes had a negative net margin of 17.10% and a negative return on equity of 4.13%. Alkermes’s revenue for the quarter was down 8.1% on a year-over-year basis. During the same period last year, the business earned $0.29 EPS. As a group, analysts forecast that Alkermes will post -0.35 earnings per share for the current year.

In related news, SVP David Joseph Gaffin sold 5,373 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $26.89, for a total value 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Richard F. Pops sold 60,000 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $25.42, for a total transaction of $1,525,200.00. Following the sale, the chief executive officer now owns 776,433 shares in the company, valued at $19,736,926.86. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 195,373 shares of company stock worth $4,905,080. 4.71% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of the business. First Trust Advisors LP increased its stake in Alkermes by 29.1% during the first quarter. First Trust Advisors LP now owns 2,906,860 shares of the company’s stock worth $106,071,000 after purchasing an additional 655,873 shares during the period. Geode Capital Management LLC increased its stake in Alkermes by 5.2% during the fourth quarter. Geode Capital Management LLC now owns 1,546,255 shares of the company’s stock worth $45,602,000 after purchasing an additional 76,621 shares during the period. Clearbridge Investments LLC increased its stake in Alkermes by 0.8% during the first quarter. Clearbridge Investments LLC now owns 1,275,948 shares of the company’s stock worth $46,559,000 after purchasing an additional 9,979 shares during the period. Norges Bank purchased a new stake in Alkermes during the fourth quarter worth about $31,645,000. Finally, Deutsche Bank AG increased its stake in Alkermes by 88.6% during the fourth quarter. Deutsche Bank AG now owns 798,796 shares of the company’s stock worth $23,570,000 after purchasing an additional 375,322 shares during the period. Institutional investors own 97.34% of the company’s stock.

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.

Read More: The mechanics of the bid-ask spread in trading

Analyst Recommendations for Alkermes (NASDAQ:ALKS)

Receive News & Ratings for Alkermes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alkermes and related companies with MarketBeat.com's FREE daily email newsletter.