Alkermes (ALKS) Cut to “Sell” at ValuEngine

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Alkermes (NASDAQ:ALKS) was downgraded by research analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Wednesday, ValuEngine reports.

A number of other brokerages have also recently weighed in on ALKS. Zacks Investment Research upgraded Alkermes from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research note on Monday, April 8th. JPMorgan Chase & Co. restated a “buy” rating on shares of Alkermes in a research note on Wednesday, April 10th. TheStreet upgraded Alkermes from a “d” rating to a “c-” rating in a research note on Tuesday, February 19th. BidaskClub cut Alkermes from a “buy” rating to a “hold” rating in a research note on Friday, January 25th. Finally, Credit Suisse Group upgraded Alkermes to a “hold” rating and set a $30.00 price objective for the company in a research note on Friday, February 15th. Five equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $40.50.

Shares of ALKS stock opened at $28.66 on Wednesday. Alkermes has a twelve month low of $27.54 and a twelve month high of $51.70. The firm has a market capitalization of $4.76 billion, a price-to-earnings ratio of -409.43 and a beta of 1.72. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.94 and a quick ratio of 2.65.

Alkermes (NASDAQ:ALKS) last issued its quarterly earnings data on Thursday, April 25th. The company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.21. The firm had revenue of $223.10 million during the quarter, compared to analysts’ expectations of $218.84 million. Alkermes had a negative return on equity of 2.08% and a negative net margin of 15.86%. The firm’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.09) EPS. As a group, equities analysts forecast that Alkermes will post -0.37 EPS for the current year.

In related news, SVP Michael J. Landine sold 20,000 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $32.07, for a total transaction of $641,400.00. Following the transaction, the senior vice president now directly owns 205,122 shares of the company’s stock, valued at approximately $6,578,262.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Nancy Wysenski bought 3,857 shares of Alkermes stock in a transaction that occurred on Thursday, February 21st. The shares were acquired at an average cost of $33.09 per share, for a total transaction of $127,628.13. The disclosure for this purchase can be found here. Insiders have sold a total of 157,000 shares of company stock worth $5,218,470 over the last ninety days. 4.71% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in ALKS. Meeder Asset Management Inc. increased its position in Alkermes by 155.3% during the 4th quarter. Meeder Asset Management Inc. now owns 1,810 shares of the company’s stock valued at $53,000 after buying an additional 1,101 shares in the last quarter. Pendal Group Ltd acquired a new position in shares of Alkermes in the first quarter valued at about $82,000. Quantamental Technologies LLC acquired a new position in shares of Alkermes in the fourth quarter valued at about $140,000. Nordea Investment Management AB acquired a new position in shares of Alkermes in the third quarter valued at about $183,000. Finally, LPL Financial LLC acquired a new position in shares of Alkermes in the third quarter valued at about $212,000. 97.39% of the stock is currently owned by institutional investors.

About Alkermes

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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Analyst Recommendations for Alkermes (NASDAQ:ALKS)

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