Alkermes (NASDAQ:ALKS) had its price objective decreased by Cantor Fitzgerald to $45.00 in a research note issued to investors on Monday. Cantor Fitzgerald currently has a neutral rating on the stock.
“FDA response looks like someone may not have been listening. The nature of the FDA response to ALKS stands in stark contrast to a comment by the CEO on the 2Q17 results conference call, Earlier this week, we passed a major milestone with the outcome of our pre-NDA meeting with the FDA, which resulted in an agreement on our NDA submission content and timing.” We generally take with a grain of salt any management comments that FDA meetings went well” or were productive” but we believe investors may have been led to believe that the FDA viewed the ALKS 5461 data as potentially adequate for approval. That the FDA evidently has asked for additional clinical studies strongly calls into question such an assumption, in our opinion.”,” Cantor Fitzgerald’s analyst commented.
Several other equities research analysts have also recently commented on ALKS. BidaskClub raised Alkermes from a sell rating to a hold rating in a research note on Wednesday, December 27th. Zacks Investment Research upgraded Alkermes from a hold rating to a buy rating and set a $61.00 price target on the stock in a report on Monday, January 8th. Citigroup set a $62.00 price target on Alkermes and gave the stock a hold rating in a report on Thursday, February 15th. Credit Suisse Group set a $66.00 price target on Alkermes and gave the stock a buy rating in a report on Wednesday, February 14th. Finally, Jefferies Group lowered Alkermes from a buy rating to a hold rating and increased their price target for the stock from $63.19 to $66.00 in a report on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. Alkermes has a consensus rating of Hold and a consensus price target of $60.67.
Alkermes (NASDAQ:ALKS) last released its earnings results on Wednesday, February 14th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.32. Alkermes had a negative return on equity of 4.32% and a negative net margin of 17.48%. The business had revenue of $275.37 million during the quarter, compared to analysts’ expectations of $251.23 million. During the same quarter last year, the firm posted $0.02 earnings per share. The firm’s revenue was up 29.0% on a year-over-year basis. equities research analysts forecast that Alkermes will post -0.8 EPS for the current fiscal year.
In other news, insider Shane Cooke sold 6,207 shares of the firm’s stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $60.22, for a total value of $373,785.54. Following the transaction, the insider now owns 80,915 shares in the company, valued at $4,872,701.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul J. Mitchell sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $56.77, for a total value of $56,770.00. Following the completion of the transaction, the director now owns 9,000 shares in the company, valued at approximately $510,930. The disclosure for this sale can be found here. In the last quarter, insiders sold 97,880 shares of company stock worth $6,009,036. Corporate insiders own 5.34% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. First Trust Advisors LP lifted its holdings in shares of Alkermes by 18.6% in the fourth quarter. First Trust Advisors LP now owns 800,752 shares of the company’s stock valued at $43,825,000 after purchasing an additional 125,309 shares in the last quarter. Bailard Inc. bought a new position in shares of Alkermes in the fourth quarter valued at approximately $274,000. Schwab Charles Investment Management Inc. lifted its holdings in shares of Alkermes by 5.0% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 493,515 shares of the company’s stock valued at $27,011,000 after purchasing an additional 23,712 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Alkermes by 13.7% in the third quarter. Janus Henderson Group PLC now owns 2,650,006 shares of the company’s stock valued at $134,726,000 after purchasing an additional 319,014 shares in the last quarter. Finally, AMP Capital Investors Ltd lifted its holdings in shares of Alkermes by 11.0% in the third quarter. AMP Capital Investors Ltd now owns 53,745 shares of the company’s stock valued at $2,732,000 after purchasing an additional 5,306 shares in the last quarter.
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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).
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