Alkermes (ALKS) Given a $63.00 Price Target at JPMorgan Chase

JPMorgan Chase set a $63.00 target price on Alkermes (NASDAQ:ALKS) in a research report report published on Tuesday. The firm currently has a buy rating on the stock.

A number of other equities research analysts also recently weighed in on the stock. ValuEngine downgraded shares of Alkermes from a hold rating to a sell rating in a report on Monday, April 2nd. Cowen cut their price target on shares of Alkermes to $55.00 and set an outperform rating for the company in a report on Monday, April 2nd. Credit Suisse Group reissued a buy rating and issued a $53.00 price target on shares of Alkermes in a report on Monday, April 2nd. They noted that the move was a valuation call. Cantor Fitzgerald cut their price target on shares of Alkermes to $45.00 and set a neutral rating for the company in a report on Monday, April 2nd. Finally, BidaskClub raised shares of Alkermes from a hold rating to a buy rating in a report on Wednesday, March 28th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $60.67.

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Shares of ALKS opened at $42.18 on Tuesday. The company has a quick ratio of 2.46, a current ratio of 2.78 and a debt-to-equity ratio of 0.23. Alkermes has a 52-week low of $41.15 and a 52-week high of $71.22.

Alkermes (NASDAQ:ALKS) last issued its quarterly earnings results on Wednesday, February 14th. The company reported $0.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.32. Alkermes had a negative net margin of 17.48% and a negative return on equity of 4.32%. The company had revenue of $275.37 million during the quarter, compared to the consensus estimate of $251.23 million. During the same period in the prior year, the company earned $0.02 EPS. Alkermes’s revenue was up 29.0% on a year-over-year basis. equities analysts anticipate that Alkermes will post -0.57 EPS for the current year.

In other Alkermes news, SVP Mark Stejbach sold 10,880 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $70.50, for a total transaction of $767,040.00. Following the completion of the sale, the senior vice president now directly owns 54,893 shares of the company’s stock, valued at $3,869,956.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Shane Cooke sold 72,793 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $60.55, for a total transaction of $4,407,616.15. Following the sale, the insider now directly owns 147,501 shares of the company’s stock, valued at $8,931,185.55. The disclosure for this sale can be found here. Insiders have sold 97,880 shares of company stock valued at $6,009,036 over the last ninety days. Insiders own 5.34% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. First Trust Advisors LP lifted its stake 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 buying an additional 125,309 shares in the last quarter. Bailard Inc. purchased a new stake in shares of Alkermes in the fourth quarter worth approximately $274,000. Schwab Charles Investment Management Inc. lifted its position 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 worth $27,011,000 after purchasing an additional 23,712 shares in the last quarter. Janus Henderson Group PLC lifted its position 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 worth $134,726,000 after purchasing an additional 319,014 shares in the last quarter. Finally, AMP Capital Investors Ltd lifted its position 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 worth $2,732,000 after purchasing an additional 5,306 shares in the last quarter.

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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).

Analyst Recommendations for Alkermes (NASDAQ:ALKS)

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