Alkermes PLC (NASDAQ:ALKS) announced its quarterly earnings data on Thursday, July 27th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.02, MarketWatch Earnings reports. The firm had revenue of $218.80 million during the quarter, compared to the consensus estimate of $216.54 million. Alkermes PLC had a negative return on equity of 9.12% and a negative net margin of 24.33%. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the prior year, the business earned ($0.01) EPS.
Alkermes PLC (NASDAQ ALKS) traded down 0.28% during midday trading on Friday, hitting $53.77. The stock had a trading volume of 407,993 shares. The firm’s market cap is $8.26 billion. The stock has a 50-day moving average of $57.87 and a 200-day moving average of $57.45. Alkermes PLC has a 52 week low of $41.93 and a 52 week high of $63.40.
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Several brokerages recently issued reports on ALKS. J P Morgan Chase & Co set a $78.00 price objective on Alkermes PLC and gave the stock a “buy” rating in a research note on Saturday, July 1st. ValuEngine raised Alkermes PLC from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Morgan Stanley reissued an “equal weight” rating and issued a $62.00 price objective on shares of Alkermes PLC in a research note on Monday, April 24th. Leerink Swann downgraded Alkermes PLC from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $68.00 to $61.00 in a research note on Tuesday, June 13th. Finally, BidaskClub downgraded Alkermes PLC from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. Alkermes PLC presently has an average rating of “Hold” and a consensus price target of $63.00.
In related news, Director Paul J. Mitchell sold 1,500 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $54.91, for a total transaction of $82,365.00. Following the sale, the director now owns 9,500 shares in the company, valued at $521,645. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michael J. Landine sold 10,000 shares of the company’s stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $57.01, for a total value of $570,100.00. Following the sale, the senior vice president now owns 172,370 shares in the company, valued at approximately $9,826,813.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 134,500 shares of company stock worth $7,778,715. Corporate insiders own 5.34% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the company. Tocqueville Asset Management L.P. raised its stake in Alkermes PLC by 6.9% in the second quarter. Tocqueville Asset Management L.P. now owns 373,891 shares of the company’s stock valued at $21,674,000 after buying an additional 24,025 shares during the last quarter. State Board of Administration of Florida Retirement System raised its stake in Alkermes PLC by 0.6% in the second quarter. State Board of Administration of Florida Retirement System now owns 211,927 shares of the company’s stock valued at $12,285,000 after buying an additional 1,277 shares during the last quarter. KBC Group NV raised its stake in Alkermes PLC by 13.7% in the second quarter. KBC Group NV now owns 256,880 shares of the company’s stock valued at $14,891,000 after buying an additional 30,914 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in Alkermes PLC by 81.4% in the second quarter. BNP Paribas Arbitrage SA now owns 32,564 shares of the company’s stock valued at $1,888,000 after buying an additional 14,616 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in Alkermes PLC by 10.2% in the second quarter. Legal & General Group Plc now owns 654,744 shares of the company’s stock valued at $37,956,000 after buying an additional 60,624 shares during the last quarter. Institutional investors and hedge funds own 97.67% of the company’s stock.
Alkermes PLC 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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