Alkermes (ALKS) Shares Gap Up to $44.43

Shares of Alkermes Plc (NASDAQ:ALKS) gapped up before the market opened on Tuesday . The stock had previously closed at $41.09, but opened at $44.43. Alkermes shares last traded at $45.81, with a volume of 839321 shares.

ALKS has been the subject of several research reports. Zacks Investment Research raised Alkermes from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a report on Monday, January 8th. 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. BidaskClub raised Alkermes from a “hold” rating to a “buy” rating in a report on Wednesday, March 28th. JPMorgan Chase set a $63.00 price target on Alkermes and gave the stock a “buy” rating in a report on Tuesday, April 3rd. Finally, Morgan Stanley reissued an “equal weight” rating and set a $67.00 price target (up from $60.00) on shares of Alkermes in a report on Friday, February 23rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $61.50.

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The firm has a market cap of $6,592.20, a price-to-earnings ratio of -123.43 and a beta of 1.81. 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 (NASDAQ:ALKS) last announced its quarterly earnings data on Wednesday, February 14th. The company reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.32. The firm had revenue of $275.37 million during the quarter, compared to analysts’ expectations of $251.23 million. Alkermes had a negative return on equity of 4.32% and a negative net margin of 17.48%. The company’s quarterly revenue was up 29.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.02 EPS. equities research analysts predict that Alkermes Plc will post -0.57 EPS for the current year.

In other news, Director Paul J. Mitchell sold 1,000 shares of Alkermes stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $56.77, for a total value of $56,770.00. Following the transaction, the director now owns 9,000 shares in the company, valued at approximately $510,930. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Shane Cooke sold 3,300 shares of Alkermes stock in a transaction on Monday, January 29th. The shares were sold at an average price of $60.00, for a total value of $198,000.00. Following the completion of the transaction, the insider now owns 76,408 shares in the company, valued at approximately $4,584,480. The disclosure for this sale can be found here. Insiders sold a total of 91,673 shares of company stock valued at $5,635,250 over the last ninety days. Insiders own 5.34% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of ALKS. Goldman Sachs Group Inc. increased its stake in shares of Alkermes by 18.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 4,054,645 shares of the company’s stock valued at $221,911,000 after purchasing an additional 628,299 shares during the last quarter. Amundi Pioneer Asset Management Inc. bought a new stake in Alkermes during the 4th quarter worth $14,015,000. Woodford Investment Management Ltd grew its position in Alkermes by 3.4% during the 4th quarter. Woodford Investment Management Ltd now owns 7,585,683 shares of the company’s stock worth $310,628,000 after acquiring an additional 250,000 shares during the last quarter. State of Wisconsin Investment Board grew its position in Alkermes by 446.1% during the 4th quarter. State of Wisconsin Investment Board now owns 270,949 shares of the company’s stock worth $14,829,000 after acquiring an additional 221,333 shares during the last quarter. Finally, Two Sigma Investments LP grew its position in Alkermes by 3,926.3% during the 4th quarter. Two Sigma Investments LP now owns 214,272 shares of the company’s stock worth $11,727,000 after acquiring an additional 219,872 shares during the last quarter.

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About Alkermes

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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