Alkermes (NASDAQ:ALKS) had its target price trimmed by Bank of America from $56.00 to $54.00 in a research note released on Friday, July 27th, MarketBeat Ratings reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts have also commented on the stock. Zacks Investment Research lowered shares of Alkermes from a buy rating to a hold rating in a research report on Monday, May 28th. JPMorgan Chase & Co. set a $63.00 price target on shares of Alkermes and gave the company a buy rating in a research report on Tuesday, April 3rd. Citigroup raised shares of Alkermes from a neutral rating to a buy rating in a research report on Thursday, May 31st. Credit Suisse Group reaffirmed a buy rating and set a $53.00 price target on shares of Alkermes in a research report on Monday, April 2nd. They noted that the move was a valuation call. Finally, ValuEngine raised shares of Alkermes from a strong sell rating to a sell rating in a research report on Thursday, May 31st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $55.71.

Shares of Alkermes traded down $0.76, hitting $44.03, during midday trading on Friday, according to MarketBeat Ratings. 507,948 shares of the company’s stock traded hands, compared to its average volume of 649,065. Alkermes has a 1 year low of $39.54 and a 1 year high of $71.22. The company has a quick ratio of 2.62, a current ratio of 2.92 and a debt-to-equity ratio of 0.24.

Alkermes (NASDAQ:ALKS) last released its quarterly earnings results on Thursday, July 26th. The company reported $0.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.40. Alkermes had a negative net margin of 13.81% and a negative return on equity of 0.29%. The firm had revenue of $304.64 million during the quarter, compared to analyst estimates of $261.58 million. During the same quarter in the prior year, the firm earned $0.01 EPS. The business’s revenue for the quarter was up 39.2% compared to the same quarter last year. equities analysts predict that Alkermes will post -0.67 EPS for the current fiscal year.

In other Alkermes news, CEO Richard F. Pops sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 15th. The stock was sold at an average price of $46.38, for a total value of $2,319,000.00. Following the completion of the transaction, the chief executive officer now directly owns 716,352 shares in the company, valued at approximately $33,224,405.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul J. Mitchell sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $43.68, for a total value of $43,680.00. The disclosure for this sale can be found here. Insiders sold a total of 149,842 shares of company stock valued at $6,909,380 over the last three months. 5.34% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the business. Rockefeller Capital Management L.P. bought a new position in Alkermes in the 1st quarter worth approximately $107,000. First Mercantile Trust Co. bought a new position in Alkermes in the 1st quarter worth approximately $140,000. D.A. Davidson & CO. bought a new position in Alkermes in the 1st quarter worth approximately $204,000. Baird Financial Group Inc. bought a new position in Alkermes in the 1st quarter worth approximately $206,000. Finally, NumerixS Investment Technologies Inc bought a new position in Alkermes in the 2nd quarter worth approximately $233,000.

Alkermes Company Profile

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; INVEGA SUSTENNA for the treatment of schizophrenia and schizoaffective disorder; XEPLION, INVEGA TRINZA, and TREVICTA for treating schizophrenia; RISPERDAL CONSTA for the treatment of schizophrenia and bipolar I disorder; AMPYRA (dalfampridine)/FAMPYRA (fampridine) to enhance walking in adults with multiple sclerosis (MS) who have walking disability; and BYDUREON (exenatide extended-release for injectable suspension) and BYDUREON BCise for the treatment of type 2 diabetes.

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Analyst Recommendations for Alkermes (NASDAQ:ALKS)

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