Barclays PLC Downgrades Alkermes PLC (ALKS) to Equal Weight
Alkermes PLC (NASDAQ:ALKS) was downgraded by Barclays PLC from an “overweight” rating to an “equal weight” rating in a report released on Monday. They presently have a $50.00 target price on the stock, down from their previous target price of $66.00. Barclays PLC’s target price points to a potential downside of 2.87% from the stock’s previous close.
A number of other equities research analysts have also recently weighed in on the company. Zacks Investment Research raised Alkermes PLC from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. ValuEngine raised Alkermes PLC from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Jefferies Group LLC set a $69.00 price target on Alkermes PLC and gave the company a “buy” rating in a report on Friday, August 25th. BidaskClub cut Alkermes PLC from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Finally, J P Morgan Chase & Co set a $78.00 price target on Alkermes PLC and gave the company a “buy” rating in a report on Saturday, July 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. Alkermes PLC currently has a consensus rating of “Hold” and a consensus target price of $62.56.
Alkermes PLC (ALKS) opened at 51.48 on Monday. The company’s market capitalization is $7.91 billion. Alkermes PLC has a 52 week low of $41.93 and a 52 week high of $63.40. The company’s 50-day moving average price is $51.08 and its 200-day moving average price is $55.51.
Alkermes PLC (NASDAQ:ALKS) last released its quarterly earnings results on Thursday, July 27th. The company reported $0.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.02. Alkermes PLC had a negative return on equity of 9.12% and a negative net margin of 24.33%. The firm had revenue of $218.80 million during the quarter, compared to analysts’ expectations of $216.54 million. During the same period last year, the firm posted ($0.01) EPS. The business’s revenue was up 12.1% on a year-over-year basis. On average, equities analysts forecast that Alkermes PLC will post ($0.04) EPS for the current fiscal year.
ILLEGAL ACTIVITY NOTICE: This report was reported by Daily Political and is the property of of Daily Political. If you are reading this report on another website, it was illegally stolen and republished in violation of U.S. & international copyright law. The correct version of this report can be read at https://www.dailypolitical.com/2017/10/18/barclays-plc-downgrades-alkermes-plc-alks-to-equal-weight.html.
In other Alkermes PLC news, Director Paul J. Mitchell sold 1,500 shares of Alkermes PLC stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $50.64, for a total transaction of $75,960.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Kathryn L. Biberstein sold 13,566 shares of Alkermes PLC stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $51.29, for a total value of $695,800.14. Following the transaction, the chief accounting officer now owns 70,455 shares in the company, valued at $3,613,636.95. The disclosure for this sale can be found here. Insiders sold a total of 18,066 shares of company stock worth $930,280 over the last 90 days. 5.34% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the business. Toronto Dominion Bank lifted its holdings in Alkermes PLC by 12.7% during the second quarter. Toronto Dominion Bank now owns 1,875 shares of the company’s stock worth $109,000 after acquiring an additional 212 shares in the last quarter. WINTON GROUP Ltd bought a new position in Alkermes PLC during the second quarter worth about $249,000. The Manufacturers Life Insurance Company lifted its holdings in Alkermes PLC by 7.6% during the second quarter. The Manufacturers Life Insurance Company now owns 5,804 shares of the company’s stock worth $336,000 after acquiring an additional 409 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in Alkermes PLC by 13,784.0% during the second quarter. Janus Henderson Group PLC now owns 2,330,992 shares of the company’s stock worth $135,128,000 after acquiring an additional 2,314,203 shares in the last quarter. Finally, Macquarie Group Ltd. lifted its holdings in Alkermes PLC by 175.4% during the second quarter. Macquarie Group Ltd. now owns 169,940 shares of the company’s stock worth $9,851,000 after acquiring an additional 108,229 shares in the last quarter. Hedge funds and other institutional investors own 98.51% of the company’s stock.
About Alkermes PLC
Alkermes plc is a biopharmaceutical company. The Company is engaged in the researching, developing and commercializing pharmaceutical products that are designed to address medical needs of patients in therapeutic areas. The Company has a portfolio of marketed drug products and a clinical pipeline of products that address central nervous system (CNS) disorders, such as schizophrenia, depression, addiction and multiple sclerosis (MS).
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.