Alkermes (NASDAQ:ALKS) Downgraded by BidaskClub to “Sell”
ALKS has been the subject of several other reports. ValuEngine raised shares of Alkermes from a sell rating to a hold rating in a report on Thursday, August 1st. Credit Suisse Group set a $28.00 target price on shares of Alkermes and gave the company a sell rating in a report on Friday, April 26th. TheStreet lowered shares of Alkermes from a c- rating to a d rating in a report on Friday, May 17th. Zacks Investment Research lowered shares of Alkermes from a buy rating to a hold rating and set a $26.00 target price for the company. in a report on Friday, July 19th. Finally, Citigroup set a $25.00 target price on shares of Alkermes and gave the company a hold rating in a report on Friday, July 26th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $31.70.
NASDAQ:ALKS opened at $21.65 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.98 and a quick ratio of 2.69. The firm has a market cap of $3.33 billion, a price-to-earnings ratio of -309.29 and a beta of 1.80. The company has a 50 day moving average price of $22.39 and a 200-day moving average price of $27.99. Alkermes has a 1-year low of $19.85 and a 1-year high of $46.98.
In related news, Director Richard F. Pops sold 110,000 shares of Alkermes stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $24.88, for a total value of $2,736,800.00. Following the sale, the director now owns 776,433 shares of the company’s stock, valued at approximately $19,317,653.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michael J. Landine sold 20,000 shares of Alkermes stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $24.93, for a total transaction of $498,600.00. Following the completion of the sale, the senior vice president now directly owns 193,426 shares in the company, valued at approximately $4,822,110.18. The disclosure for this sale can be found here. 4.71% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Clearbridge Investments LLC boosted its stake in Alkermes by 0.8% during the 1st quarter. Clearbridge Investments LLC now owns 1,275,948 shares of the company’s stock worth $46,559,000 after purchasing an additional 9,979 shares during the last quarter. Commerce Bank acquired a new stake in Alkermes during the 1st quarter worth $201,000. S&CO Inc. boosted its stake in Alkermes by 12.2% during the 2nd quarter. S&CO Inc. now owns 9,200 shares of the company’s stock worth $207,000 after purchasing an additional 1,000 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its stake in Alkermes by 214.4% during the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 273,982 shares of the company’s stock worth $9,998,000 after purchasing an additional 186,840 shares during the last quarter. Finally, Quantamental Technologies LLC boosted its stake in Alkermes by 118.4% during the 1st quarter. Quantamental Technologies LLC now owns 10,347 shares of the company’s stock worth $378,000 after purchasing an additional 5,610 shares during the last quarter. 96.06% of the stock is currently owned by institutional investors.
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; RISPERDAL CONSTA for the treatment of schizophrenia and bipolar I disorder; INVEGA SUSTENNA for the treatment of schizophrenia and schizoaffective disorder; XEPLION, INVEGA TRINZA, and TREVICTA for treating schizophrenia; and AMPYRA (dalfampridine)/FAMPYRA (fampridine) to enhance walking in adults with multiple sclerosis (MS) who have walking disability.
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