Alkermes (NASDAQ:ALKS) Rating Increased to Hold at ValuEngine

Alkermes (NASDAQ:ALKS) was upgraded by equities research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday, ValuEngine reports.

ALKS has been the topic of several other research reports. Zacks Investment Research lowered Alkermes from a “buy” rating to a “hold” rating and set a $26.00 target price on the stock. in a report on Friday, July 19th. HC Wainwright began coverage on Alkermes in a report on Friday, May 31st. They issued a “neutral” rating and a $28.00 target price on the stock. BidaskClub raised Alkermes from a “sell” rating to a “hold” rating in a report on Thursday. TheStreet lowered Alkermes from a “c-” rating to a “d” rating in a report on Friday, May 17th. Finally, Credit Suisse Group set a $28.00 target price on Alkermes and gave the company a “sell” rating in a report on Friday, April 26th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $31.70.

Shares of Alkermes stock traded down $0.70 during trading hours on Thursday, reaching $22.30. 1,032,495 shares of the company were exchanged, compared to its average volume of 1,637,553. Alkermes has a 1 year low of $19.85 and a 1 year high of $46.98. The firm has a fifty day moving average of $22.48. The company has a current ratio of 2.98, a quick ratio of 2.69 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $3.64 billion, a price-to-earnings ratio of -318.57 and a beta of 1.80.

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

In other Alkermes news, SVP David Joseph Gaffin sold 5,373 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $26.89, for a total value of $144,479.97. Following the completion of the transaction, the senior vice president now owns 53,923 shares in the company, valued at $1,449,989.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michael J. Landine sold 20,000 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $24.93, for a total transaction of $498,600.00. Following the completion of the transaction, the senior vice president now owns 193,426 shares of the company’s stock, valued at approximately $4,822,110.18. The disclosure for this sale can be found here. Insiders sold 195,373 shares of company stock valued at $4,905,080 in the last 90 days. 4.71% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Trust Advisors LP boosted its stake in Alkermes by 29.1% in the first quarter. First Trust Advisors LP now owns 2,906,860 shares of the company’s stock valued at $106,071,000 after acquiring an additional 655,873 shares in the last quarter. Geode Capital Management LLC boosted its stake in Alkermes by 5.2% in the fourth quarter. Geode Capital Management LLC now owns 1,546,255 shares of the company’s stock valued at $45,602,000 after acquiring an additional 76,621 shares in the last quarter. Clearbridge Investments LLC boosted its stake in Alkermes by 0.8% in the first quarter. Clearbridge Investments LLC now owns 1,275,948 shares of the company’s stock valued at $46,559,000 after acquiring an additional 9,979 shares in the last quarter. Norges Bank acquired a new position in Alkermes in the fourth quarter valued at $31,645,000. Finally, Deutsche Bank AG boosted its stake in Alkermes by 88.6% in the fourth quarter. Deutsche Bank AG now owns 798,796 shares of the company’s stock valued at $23,570,000 after acquiring an additional 375,322 shares in the last quarter. Institutional investors own 97.34% 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.

Read More: The Role of a Fiduciary and Individual Investors

To view ValuEngine’s full report, visit ValuEngine’s official website.

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.