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.

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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).

Analyst Recommendations for Alkermes PLC (NASDAQ:ALKS)

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