Q3 2016 EPS Estimates for Alkermes PLC (ALKS) Reduced by Jefferies Group
Alkermes PLC (NASDAQ:ALKS) – Research analysts at Jefferies Group lowered their Q3 2016 earnings estimates for shares of Alkermes PLC in a report released on Wednesday. Jefferies Group analyst B. Amin now anticipates that the brokerage will post earnings per share of ($0.33) for the quarter, down from their previous forecast of ($0.20). Jefferies Group has a “Buy” rating and a $62.00 price objective on the stock. Jefferies Group also issued estimates for Alkermes PLC’s FY2016 earnings at ($0.98) EPS and FY2017 earnings at ($0.22) EPS.
Alkermes PLC (NASDAQ:ALKS) last posted its earnings results on Thursday, July 28th. The company reported ($0.01) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.09. Alkermes PLC had a negative return on equity of 14.18% and a negative net margin of 41.19%. The company had revenue of $195.20 million for the quarter, compared to the consensus estimate of $174.15 million. During the same quarter in the previous year, the business earned ($0.09) earnings per share. The company’s revenue for the quarter was up 28.9% on a year-over-year basis.
A number of other equities analysts also recently issued reports on ALKS. Morgan Stanley reissued a “sell” rating and set a $41.00 target price on shares of Alkermes PLC in a research note on Friday, September 2nd. Cowen and Company reissued a “buy” rating on shares of Alkermes PLC in a research note on Friday, September 23rd. Barclays PLC increased their target price on Alkermes PLC from $50.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 13th. Zacks Investment Research raised Alkermes PLC from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research note on Friday, August 5th. Finally, JPMorgan Chase & Co. restated a “hold” rating and issued a $51.00 price target on shares of Alkermes PLC in a report on Friday, July 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $55.90.
Alkermes PLC (NASDAQ:ALKS) traded down 1.76% during midday trading on Friday, reaching $43.10. The company’s stock had a trading volume of 392,631 shares. The company has a 50 day moving average price of $46.82 and a 200 day moving average price of $44.13. The firm’s market cap is $6.53 billion. Alkermes PLC has a 1-year low of $27.14 and a 1-year high of $80.71.
In other Alkermes PLC news, Director Paul J. Mitchell sold 2,000 shares of the stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $49.48, for a total transaction of $98,960.00. Following the sale, the director now owns 10,000 shares in the company, valued at approximately $494,800. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CMO Elliot Ehrich sold 35,199 shares of the stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $51.95, for a total value of $1,828,588.05. Following the sale, the chief marketing officer now owns 46,111 shares in the company, valued at approximately $2,395,466.45. The disclosure for this sale can be found here. Company insiders own 4.75% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Mn Services Vermogensbeheer B.V. boosted its stake in shares of Alkermes PLC by 3.4% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 3,829 shares of the company’s stock worth $149,000 after buying an additional 127 shares during the period. Evercore Wealth Management LLC raised its position in shares of Alkermes PLC by 1.2% in the second quarter. Evercore Wealth Management LLC now owns 14,366 shares of the company’s stock worth $621,000 after buying an additional 166 shares in the last quarter. IBM Retirement Fund raised its position in shares of Alkermes PLC by 1.2% in the second quarter. IBM Retirement Fund now owns 15,193 shares of the company’s stock worth $657,000 after buying an additional 177 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its position in shares of Alkermes PLC by 2.1% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 9,651 shares of the company’s stock worth $417,000 after buying an additional 196 shares in the last quarter. Finally, Capstone Asset Management Co. raised its position in shares of Alkermes PLC by 5.5% in the second quarter. Capstone Asset Management Co. now owns 6,285 shares of the company’s stock worth $272,000 after buying an additional 330 shares in the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.
About Alkermes PLC
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.
Receive News & Ratings for Alkermes PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alkermes PLC and related companies with MarketBeat.com's FREE daily email newsletter.