Shares of Alkermes plc (NASDAQ:ALKS – Get Rating) gapped up prior to trading on Tuesday . The stock had previously closed at $24.22, but opened at $24.80. Alkermes shares last traded at $23.94, with a volume of 3,467 shares changing hands.
Wall Street Analyst Weigh In
Several analysts recently commented on the stock. Mizuho reduced their price target on shares of Alkermes from $36.00 to $34.00 and set a "buy" rating for the company in a research report on Thursday, July 28th. Stifel Nicolaus upped their price target on shares of Alkermes to $28.00 in a research report on Wednesday, July 27th. Piper Sandler initiated coverage on shares of Alkermes in a research note on Tuesday, August 16th. They issued a "neutral" rating and a $26.00 price objective on the stock. Finally, StockNews.com raised shares of Alkermes from a "buy" rating to a "strong-buy" rating in a research note on Monday. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $30.44.
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Alkermes Stock Performance
The company has a current ratio of 2.39, a quick ratio of 2.03 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $3.90 billion, a price-to-earnings ratio of -41.58 and a beta of 0.61. The stock's 50 day moving average price is $26.78 and its two-hundred day moving average price is $27.48.
Alkermes (NASDAQ:ALKS – Get Rating) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.06 earnings per share for the quarter, topping analysts' consensus estimates of $0.01 by $0.05. Alkermes had a negative net
margin of 8.02% and a positive return on equity of 0.79%. The business had revenue of $276.22 million for the quarter, compared to analysts' expectations of $269.01 million. During the same period in the prior year, the company posted $0.13 EPS. The business's revenue for the quarter was down 9.1% on a year-over-year basis. On average, analysts forecast that Alkermes plc will post -0.34 EPS for the current year.
Insider Activity at Alkermes
In related news, SVP Christian Todd Nichols sold 7,474 shares of the stock in a transaction dated Tuesday, June 21st. The shares were sold at an average price of $28.26, for a total value of $211,215.24. Following the sale, the senior vice president now directly owns 21,035 shares of the company's stock, valued at approximately $594,449.10. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 4.76% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Alkermes
Large investors have recently added to or reduced their stakes in the business. Neo Ivy Capital Management acquired a new stake in Alkermes in the 2nd quarter valued at about $27,000. Steward Partners Investment Advisory LLC lifted its holdings in Alkermes by 100.0% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 1,000 shares of the company's stock valued at $26,000 after purchasing an additional 500 shares in the last quarter. Trust Co. of Vermont purchased a new position in Alkermes in the 2nd quarter valued at about $30,000. Credit Agricole S A purchased a new position in Alkermes in the 4th quarter valued at about $35,000. Finally, Exchange Traded Concepts LLC lifted its holdings in Alkermes by 132.0% in the 2nd quarter. Exchange Traded Concepts LLC now owns 1,506 shares of the company's stock valued at $45,000 after purchasing an additional 857 shares in the last quarter. 94.77% of the stock is owned by institutional investors and hedge funds.
About Alkermes
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Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in various therapeutic areas in the United States, Ireland, and internationally. Its marketed products include ARISTADA, an intramuscular injectable suspension for the treatment of schizophrenia; VIVITROL for the treatment of alcohol and prevention of opioid dependence; RISPERDAL CONSTA for the treatment of schizophrenia and bipolar I disorder; INVEGA SUSTENNA for the treatment of schizophrenia and schizoaffective disorder; XEPLION, INVEGA TRINZA, and TREVICTA to treat schizophrenia and schizoaffective; and VUMERITY for the treatment of relapsing forms of multiple sclerosis in adults, including clinically isolated syndrome, relapsing-remitting and active secondary progressive diseases.
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