According to Zacks, “Alkermes boasts a diversified portfolio of products targeting major CNS disorders including schizophrenia, depression, addiction and multiple sclerosis. Revenues are driven not only by the company’s royalty and manufacturing business, but also by a strong performance of Vivitrol and the commercialization of Aristada. Encouraged by the strong performance of Vivitrol in second-quarter 2016, Alkermes raised and updated its 2016 outlook. While Vivitrol should benefit from the newly passed legislation, CARA, gaining reimbursement and access for Aristada bodes well. Meanwhile, Alkermes’ progress with its pipeline has been impressive. Focus should be on the same as the company expects important data readouts over the next several quarters. Given its history of pipeline setbacks, any obstacle in the process of development of these candidates would weigh heavily on the stock. Stiff competition and high dependence on partners remains a threat.”
Other research analysts have also issued reports about the company. Jefferies Group reaffirmed a buy rating on shares of Alkermes PLC in a research report on Sunday, July 17th. Credit Suisse Group AG reaffirmed a buy rating on shares of Alkermes PLC in a research report on Thursday, June 2nd. Barclays PLC reaffirmed a buy rating and issued a $65.00 target price (up from $50.00) on shares of Alkermes PLC in a research report on Tuesday, July 12th. Cowen and Company reaffirmed a buy rating on shares of Alkermes PLC in a research report on Friday, September 23rd. Finally, JPMorgan Chase & Co. reaffirmed a hold rating and issued a $51.00 target price on shares of Alkermes PLC in a research report on Friday, July 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. Alkermes PLC currently has an average rating of Hold and an average price target of $55.60.
Alkermes PLC (NASDAQ:ALKS) last issued its quarterly earnings results on Thursday, July 28th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.09. Alkermes PLC had a negative return on equity of 14.18% and a negative net margin of 41.19%. The company had revenue of $195.20 million for the quarter, compared to analyst estimates of $174.15 million. During the same quarter in the prior year, the company posted ($0.09) EPS. The business’s revenue for the quarter was up 28.9% compared to the same quarter last year.
In related news, Director Paul J. Mitchell sold 2,000 shares of Alkermes PLC stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $45.81, for a total value of $91,620.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at $458,100. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP David Joseph Gaffin sold 2,382 shares of Alkermes PLC stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $45.92, for a total value of $109,381.44. Following the completion of the transaction, the senior vice president now owns 22,816 shares of the company’s stock, valued at $1,047,710.72. The disclosure for this sale can be found here. Insiders own 4.75% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in Alkermes PLC by 10.1% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 46,040 shares of the company’s stock worth $1,574,000 after buying an additional 4,232 shares during the period. Teachers Advisors Inc. increased its position in Alkermes PLC by 0.5% in the first quarter. Teachers Advisors Inc. now owns 120,176 shares of the company’s stock worth $4,109,000 after buying an additional 554 shares during the period. Franklin Resources Inc. increased its position in Alkermes PLC by 149.4% in the first quarter. Franklin Resources Inc. now owns 4,230,000 shares of the company’s stock worth $144,624,000 after buying an additional 2,534,197 shares during the period. BlackRock Fund Advisors increased its position in Alkermes PLC by 5.1% in the first quarter. BlackRock Fund Advisors now owns 3,373,609 shares of the company’s stock worth $115,344,000 after buying an additional 164,120 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Alkermes PLC by 81.3% in the first quarter. JPMorgan Chase & Co. now owns 249,649 shares of the company’s stock worth $8,536,000 after buying an additional 111,961 shares during the period. Institutional investors and hedge funds own 95.13% of the company’s stock.
About Alkermes PLC
Alkermes Public Limited Company is a biopharmaceutical company. The Company is engaged in researching, developing and commercializing, both with partners and on its own, pharmaceutical products that are designed to address medical needs of patients in therapeutic areas. The Company has a portfolio of approximately 20 products and a clinical pipeline of product candidates that address central nervous system (CNS) disorders, such as schizophrenia, depression, addiction and multiple sclerosis.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.