Stifel Nicolaus Cuts Alkermes (ALKS) Price Target to $34.00

Alkermes (NASDAQ:ALKS) had its price objective trimmed by Stifel Nicolaus from $40.00 to $34.00 in a research note released on Friday, The Fly reports. The firm currently has a hold rating on the stock.

A number of other research firms also recently issued reports on ALKS. Cantor Fitzgerald set a $33.00 target price on shares of Alkermes and gave the company a hold rating in a research report on Wednesday, January 23rd. Wolfe Research started coverage on shares of Alkermes in a research report on Friday, December 14th. They set an underperform rating on the stock. Goldman Sachs Group downgraded shares of Alkermes from a neutral rating to a sell rating and cut their target price for the company from $49.00 to $26.00 in a research report on Tuesday, December 18th. JPMorgan Chase & Co. restated a buy rating on shares of Alkermes in a research report on Thursday, January 10th. Finally, Cowen restated a buy rating and set a $58.00 target price on shares of Alkermes in a research report on Tuesday, October 30th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. The company has an average rating of Hold and an average target price of $45.71.

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Alkermes stock opened at $32.54 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.56 and a current ratio of 2.85. Alkermes has a 1 year low of $27.54 and a 1 year high of $71.22. The stock has a market cap of $5.06 billion, a price-to-earnings ratio of -87.95 and a beta of 1.79.

Alkermes (NASDAQ:ALKS) last released its earnings results on Thursday, February 14th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.39. Alkermes had a negative net margin of 13.23% and a negative return on equity of 0.12%. The company had revenue of $316.00 million for the quarter, compared to the consensus estimate of $255.71 million. During the same period in the prior year, the company posted $0.31 EPS. The company’s revenue was up 14.9% compared to the same quarter last year. On average, analysts forecast that Alkermes will post -0.49 earnings per share for the current year.

In related news, Director David W. Anstice sold 8,787 shares of the stock in a transaction that occurred on Wednesday, December 12th. The shares were sold at an average price of $35.59, for a total value of $312,729.33. Following the sale, the director now directly owns 70,000 shares in the company, valued at approximately $2,491,300. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul J. Mitchell sold 1,000 shares of the stock in a transaction that occurred on Friday, January 4th. The shares were sold at an average price of $30.00, for a total transaction of $30,000.00. Following the completion of the sale, the director now owns 8,000 shares in the company, valued at $240,000. The disclosure for this sale can be found here. Insiders sold a total of 11,787 shares of company stock worth $411,909 over the last quarter. 5.51% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Alkermes by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 13,224,145 shares of the company’s stock worth $561,231,000 after purchasing an additional 196,776 shares in the last quarter. Vanguard Group Inc increased its stake in Alkermes by 1.5% during the 3rd quarter. Vanguard Group Inc now owns 13,224,145 shares of the company’s stock worth $561,231,000 after purchasing an additional 196,776 shares in the last quarter. BlackRock Inc. increased its stake in Alkermes by 1.1% during the 4th quarter. BlackRock Inc. now owns 10,075,972 shares of the company’s stock worth $297,341,000 after purchasing an additional 108,852 shares in the last quarter. Franklin Resources Inc. increased its stake in Alkermes by 5.1% during the 3rd quarter. Franklin Resources Inc. now owns 4,265,800 shares of the company’s stock worth $181,040,000 after purchasing an additional 206,300 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in Alkermes by 2.5% during the 4th quarter. First Trust Advisors LP now owns 2,250,987 shares of the company’s stock worth $66,427,000 after purchasing an additional 54,853 shares in the last quarter.

About Alkermes

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. The company's marketed products include ARISTADA (aripiprazole lauroxil), an extended-release intramuscular injectable suspension for the treatment of schizophrenia; VIVITROL (naltrexone for extended-release injectable suspension) for the treatment of alcohol and opioid dependence; INVEGA SUSTENNA for the treatment of schizophrenia and schizoaffective disorder; XEPLION, INVEGA TRINZA, and TREVICTA for treating schizophrenia; RISPERDAL CONSTA for the treatment of schizophrenia and bipolar I disorder; AMPYRA (dalfampridine)/FAMPYRA (fampridine) to enhance walking in adults with multiple sclerosis (MS) who have walking disability; and BYDUREON (exenatide extended-release for injectable suspension) and BYDUREON BCise for the treatment of type 2 diabetes.

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