Trade Report: The Brokers Issue Forecasts for Alkermes PLC’s Q3 2016 Earnings (ALKS)

The Brokers Issue Forecasts for Alkermes PLC’s Q3 2016 Earnings (ALKS)

Alkermes PLC (NASDAQ:ALKS) – Analysts at Leerink Swann issued their Q3 2016 EPS estimates for shares of Alkermes PLC in a research report issued on Tuesday. Leerink Swann analyst P. Matteis forecasts that the brokerage will post earnings per share of ($0.17) for the quarter. Leerink Swann has a “Outperform” rating and a $57.00 price target on the stock. Leerink Swann also issued estimates for Alkermes PLC’s Q4 2016 earnings at ($0.14) EPS, FY2016 earnings at ($0.79) EPS and FY2017 earnings at ($0.84) EPS.

A number of other analysts have also commented on ALKS. Jefferies Group restated a “buy” rating on shares of Alkermes PLC in a report on Sunday, July 17th. Morgan Stanley restated a “sell” rating and issued a $41.00 price target on shares of Alkermes PLC in a report on Friday, September 2nd. Cowen and Company restated a “buy” rating on shares of Alkermes PLC in a report on Friday, September 23rd. Barclays PLC boosted their price target on Alkermes PLC from $50.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, July 13th. Finally, Zacks Investment Research upgraded Alkermes PLC from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Friday, August 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. Alkermes PLC has a consensus rating of “Hold” and an average price target of $55.90.

Shares of Alkermes PLC (NASDAQ:ALKS) opened at 45.71 on Friday. The firm’s market cap is $6.93 billion. The firm has a 50-day moving average price of $46.88 and a 200-day moving average price of $43.84. Alkermes PLC has a 12-month low of $27.14 and a 12-month high of $80.71.

Alkermes PLC (NASDAQ:ALKS) last released its earnings results on Thursday, July 28th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.09. The firm had revenue of $195.20 million for the quarter, compared to analyst estimates of $174.15 million. Alkermes PLC had a negative return on equity of 14.18% and a negative net margin of 41.19%. The company’s revenue was up 28.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.09) EPS.

Institutional investors have recently made changes to their positions in the company. FMR LLC increased its position in shares of Alkermes PLC by 0.3% in the second quarter. FMR LLC now owns 22,674,809 shares of the company’s stock worth $980,005,000 after buying an additional 63,567 shares during the period. Wellington Management Group LLP increased its position in shares of Alkermes PLC by 5.0% in the first quarter. Wellington Management Group LLP now owns 21,097,768 shares of the company’s stock worth $721,333,000 after buying an additional 995,186 shares during the period. Vanguard Group Inc. increased its position in Alkermes PLC by 3.2% in the second quarter. Vanguard Group Inc. now owns 11,050,080 shares of the company’s stock valued at $477,585,000 after buying an additional 343,746 shares during the last quarter. Franklin Resources Inc. increased its position in Alkermes PLC by 149.4% in the first quarter. Franklin Resources Inc. now owns 4,230,000 shares of the company’s stock valued at $144,624,000 after buying an additional 2,534,197 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its position in Alkermes PLC by 3.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 3,869,344 shares of the company’s stock valued at $167,233,000 after buying an additional 119,597 shares during the last quarter. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

In other Alkermes PLC news, CMO Elliot Ehrich sold 35,199 shares of the business’s stock in a transaction that occurred on Wednesday, July 27th. The stock was sold at an average price of $51.95, for a total transaction of $1,828,588.05. Following the transaction, the chief marketing officer now owns 46,111 shares of the company’s stock, valued at $2,395,466.45. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP David Joseph Gaffin sold 2,382 shares of the business’s stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $45.92, for a total value of $109,381.44. Following the transaction, the senior vice president now directly owns 22,816 shares in the company, valued at approximately $1,047,710.72. The disclosure for this sale can be found here. Company insiders own 4.75% of the company’s stock.

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