Alkermes Plc (NASDAQ:ALKS)’s share price rose 5.7% during mid-day trading on Tuesday . The stock traded as high as $56.80 and last traded at $56.64. Approximately 953,248 shares changed hands during mid-day trading, an increase of 26% from the average daily volume of 755,225 shares. The stock had previously closed at $53.61.

ALKS has been the subject of several research analyst reports. Mizuho set a $81.00 price objective on shares of Alkermes and gave the company a “buy” rating in a research note on Saturday, October 21st. Credit Suisse Group set a $66.00 price objective on shares of Alkermes and gave the company a “buy” rating in a research note on Tuesday, November 28th. Zacks Investment Research upgraded shares of Alkermes from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research note on Monday. ValuEngine downgraded shares of Alkermes from a “hold” rating to a “sell” rating in a research note on Monday, October 23rd. Finally, UBS Group set a $54.00 price objective on shares of Alkermes and gave the company a “hold” rating in a research note on Friday, October 27th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $63.33.

The company has a market cap of $9,030.00, a P/E ratio of -52.89 and a beta of 2.13. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.05 and a quick ratio of 2.72.

Alkermes (NASDAQ:ALKS) last announced its earnings results on Thursday, October 26th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.04. Alkermes had a negative net margin of 20.12% and a negative return on equity of 7.27%. The business had revenue of $217.40 million during the quarter, compared to the consensus estimate of $231.29 million. During the same quarter in the prior year, the firm earned ($0.09) earnings per share. The business’s quarterly revenue was up 20.6% compared to the same quarter last year. equities analysts anticipate that Alkermes Plc will post -0.59 earnings per share for the current year.

In other news, SVP Michael J. Landine sold 15,000 shares of the stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $48.71, for a total transaction of $730,650.00. Following the completion of the sale, the senior vice president now owns 178,693 shares in the company, valued at $8,704,136.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Paul J. Mitchell sold 1,000 shares of the stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $51.98, for a total transaction of $51,980.00. Following the transaction, the director now directly owns 9,000 shares of the company’s stock, valued at $467,820. The disclosure for this sale can be found here. Insiders have sold 136,417 shares of company stock valued at $7,259,391 in the last quarter. Insiders own 5.34% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of ALKS. Toronto Dominion Bank raised its holdings in Alkermes by 12.7% during the second quarter. Toronto Dominion Bank now owns 1,875 shares of the company’s stock worth $109,000 after purchasing an additional 212 shares in the last quarter. Quantbot Technologies LP purchased a new position in Alkermes during the third quarter worth about $126,000. Virtu Financial LLC purchased a new position in Alkermes during the third quarter worth about $201,000. Dynamic Technology Lab Private Ltd purchased a new position in Alkermes during the third quarter worth about $214,000. Finally, Trexquant Investment LP purchased a new position in Alkermes during the third quarter worth about $218,000. 99.17% of the stock is owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY NOTICE: “Alkermes (ALKS) Trading 5.7% Higher” was first posted by Daily Political and is the property of of Daily Political. If you are viewing this report on another publication, it was stolen and reposted in violation of international trademark & copyright law. The correct version of this report can be read at https://www.dailypolitical.com/2018/01/11/alkermes-alks-trading-5-7-higher.html.

About Alkermes

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 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.