Alkermes (NASDAQ:ALKS) Cut to Sell at Goldman Sachs Group

Goldman Sachs Group lowered shares of Alkermes (NASDAQ:ALKS) from a neutral rating to a sell rating in a research report report published on Thursday, Briefing.com Automated Import reports. Goldman Sachs Group currently has $15.00 target price on the stock, down from their prior target price of $19.00.

Several other equities analysts also recently weighed in on the company. HC Wainwright reissued a neutral rating and set a $23.00 target price (down previously from $25.00) on shares of Alkermes in a research report on Thursday, April 30th. Stifel Nicolaus reduced their target price on shares of Alkermes from $20.00 to $17.00 and set a hold rating on the stock in a research note on Wednesday, April 29th. BidaskClub cut shares of Alkermes from a buy rating to a hold rating in a research note on Tuesday, July 14th. Piper Sandler reduced their price objective on shares of Alkermes from $22.00 to $21.00 and set a neutral rating on the stock in a research report on Wednesday, April 29th. Finally, Morgan Stanley dropped their target price on Alkermes from $20.00 to $16.00 and set an equal weight rating for the company in a research report on Thursday, April 2nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $20.00.

ALKS stock opened at $18.01 on Thursday. The company has a fifty day simple moving average of $18.96 and a two-hundred day simple moving average of $17.35. Alkermes has a 52 week low of $11.98 and a 52 week high of $23.48. The company has a quick ratio of 2.36, a current ratio of 2.95 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $2.86 billion, a P/E ratio of -22.51 and a beta of 1.50.

Alkermes (NASDAQ:ALKS) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.06 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.19. Alkermes had a negative net margin of 10.87% and a positive return on equity of 4.47%. The firm had revenue of $247.53 million during the quarter, compared to the consensus estimate of $232.70 million. During the same quarter last year, the firm earned $0.09 EPS. The firm’s revenue for the quarter was down 11.6% compared to the same quarter last year. As a group, analysts anticipate that Alkermes will post -0.52 EPS for the current year.

In other Alkermes news, SVP Michael J. Landine sold 25,000 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $14.06, for a total transaction of $351,500.00. Following the transaction, the senior vice president now directly owns 226,822 shares in the company, valued at approximately $3,189,117.32. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Iain Michael Brown sold 6,250 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $15.39, for a total transaction of $96,187.50. Following the transaction, the chief accounting officer now directly owns 44,831 shares in the company, valued at approximately $689,949.09. The disclosure for this sale can be found here. In the last three months, insiders sold 174,250 shares of company stock worth $2,587,688. 4.49% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sarissa Capital Management LP raised its stake in Alkermes by 89.0% in the first quarter. Sarissa Capital Management LP now owns 7,193,000 shares of the company’s stock worth $103,723,000 after buying an additional 3,388,000 shares in the last quarter. Maverick Capital Ltd. bought a new position in shares of Alkermes in the 1st quarter worth $35,969,000. Camber Capital Management LP lifted its stake in shares of Alkermes by 46.7% during the 1st quarter. Camber Capital Management LP now owns 6,050,000 shares of the company’s stock worth $87,241,000 after purchasing an additional 1,925,000 shares during the last quarter. Norges Bank bought a new stake in Alkermes during the fourth quarter valued at about $33,046,000. Finally, UBS Group AG grew its stake in Alkermes by 414.3% in the second quarter. UBS Group AG now owns 1,960,886 shares of the company’s stock valued at $38,051,000 after purchasing an additional 1,579,622 shares during the last quarter. Hedge funds and other institutional investors own 97.24% of the company’s stock.

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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