Alkermes PLC (NASDAQ:ALKS)’s share price dropped 3.2% during trading on Wednesday . The company traded as low as $45.13 and last traded at $45.25, with a volume of 403,928 shares traded. The stock had previously closed at $46.76.

ALKS has been the subject of a number of research reports. Leerink Swann reaffirmed a “buy” rating on shares of Alkermes PLC in a report on Thursday, April 21st. Morgan Stanley reaffirmed a “sell” rating on shares of Alkermes PLC in a report on Saturday, April 30th. Cowen and Company started coverage on shares of Alkermes PLC in a report on Thursday, May 5th. They issued a “market perform” rating for the company. Evercore ISI started coverage on shares of Alkermes PLC in a report on Thursday, May 26th. They set a “buy” rating and a $59.00 price target for the company. Finally, Credit Suisse Group AG reissued a “buy” rating on shares of Alkermes PLC in a report on Thursday, June 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. Alkermes PLC presently has a consensus rating of “Hold” and a consensus target price of $53.30.

The company’s market cap is $6.85 billion. The firm’s 50 day moving average price is $47.84 and its 200 day moving average price is $40.18.

Alkermes PLC (NASDAQ:ALKS) last issued its quarterly earnings results on Thursday, July 28th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.09. The business had revenue of $195.20 million for the quarter, compared to analyst estimates of $174.15 million. During the same quarter last year, the firm earned ($0.09) earnings per share. The firm’s quarterly revenue was up 28.9% compared to the same quarter last year. On average, equities analysts predict that Alkermes PLC will post ($0.21) EPS for the current year.

In related news, CMO Elliot Ehrich sold 35,199 shares of the company’s stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $51.95, for a total value of $1,828,588.05. Following the completion of the transaction, the chief marketing officer now directly owns 46,111 shares in the company, valued at $2,395,466.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul J. Mitchell sold 2,000 shares of the company’s stock in a transaction on Monday, June 6th. The shares were sold at an average price of $44.98, for a total value of $89,960.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at $449,800. The disclosure for this sale can be found here.

Other hedge funds and institutional investors have recently modified their holdings of the company. Utah Retirement Systems raised its position in shares of Alkermes PLC by 0.8% in the fourth quarter. Utah Retirement Systems now owns 26,700 shares of the company’s stock worth $2,119,000 after buying an additional 200 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of Alkermes PLC by 4.8% in the fourth quarter. Advisors Asset Management Inc. now owns 23,604 shares of the company’s stock worth $1,874,000 after buying an additional 1,084 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its position in shares of Alkermes PLC by 8.1% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 18,756 shares of the company’s stock worth $1,489,000 after buying an additional 1,411 shares during the last quarter. Finally, Morgan Stanley raised its position in shares of Alkermes PLC by 90.0% in the fourth quarter. Morgan Stanley now owns 278,819 shares of the company’s stock worth $22,134,000 after buying an additional 132,076 shares during the last quarter.

Alkermes Public Limited Company is a biopharmaceutical company. The Company is engaged in researching, developing and commercializing, both with partners and on its own, pharmaceutical products that are designed to address medical needs of patients in therapeutic areas. The Company has a portfolio of approximately 20 products and a clinical pipeline of product candidates that address central nervous system (CNS) disorders, such as schizophrenia, depression, addiction and multiple sclerosis.

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