A number of other equities analysts have also weighed in on the company. Credit Suisse Group reaffirmed a buy rating and issued a $53.00 price objective on shares of Alkermes in a research note on Monday. They noted that the move was a valuation call. Cantor Fitzgerald dropped their price objective on Alkermes to $45.00 and set a neutral rating for the company in a research note on Monday. BidaskClub raised Alkermes from a hold rating to a buy rating in a research note on Wednesday, March 28th. Morgan Stanley reaffirmed an equal weight rating and issued a $67.00 price objective (up previously from $60.00) on shares of Alkermes in a research note on Friday, February 23rd. Finally, Jefferies Group lowered Alkermes from a buy rating to a hold rating and increased their price target for the company from $63.19 to $66.00 in a research note on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. Alkermes has a consensus rating of Hold and a consensus target price of $60.67.
NASDAQ ALKS opened at $42.69 on Monday. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.78 and a quick ratio of 2.46. Alkermes has a twelve month low of $41.15 and a twelve month high of $71.22.
In other Alkermes news, SVP Mark Stejbach sold 10,880 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $70.50, for a total transaction of $767,040.00. Following the sale, the senior vice president now directly owns 54,893 shares in the company, valued at $3,869,956.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Shane Cooke sold 6,207 shares of the company’s stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $60.22, for a total value of $373,785.54. Following the sale, the insider now owns 80,915 shares in the company, valued at $4,872,701.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 97,880 shares of company stock valued at $6,009,036. 5.34% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the business. First Trust Advisors LP raised its position in Alkermes by 18.6% during 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 during the period. Bailard Inc. purchased a new stake in Alkermes during the fourth quarter valued at approximately $274,000. Schwab Charles Investment Management Inc. raised its position in Alkermes by 5.0% during 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 during the period. Janus Henderson Group PLC raised its position in Alkermes by 13.7% during 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 during the period. Finally, AMP Capital Investors Ltd raised its position in Alkermes by 11.0% during 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 during the period.
Alkermes Company Profile
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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