Citigroup Gives Alkermes (NASDAQ:ALKS) a Higher Rating. Will Other Analysts Follow Suit?

May 16, 2018 - By Stephen Andrade

Investors sentiment decreased to 0.75 in Q4 2017. Its down 0.29, from 1.04 in 2017Q3. It fall, as 42 investors sold Alkermes plc shares while 75 reduced holdings. 38 funds opened positions while 50 raised stakes. 152.34 million shares or 5.29% more from 144.69 million shares in 2017Q3 were reported.

Primecap Mngmt Ca reported 21.87M shares stake. Tocqueville Asset Management Limited Partnership holds 0.03% or 42,255 shares. Principal Financial Group Inc owns 45,439 shares for 0% of their portfolio. M&T Savings Bank stated it has 0% of its portfolio in Alkermes plc (NASDAQ:ALKS). 1,661 were reported by Pnc Services Group. Utd Serv Automobile Association reported 0.02% stake. Brown Brothers Harriman And, a New York-based fund reported 25 shares. Columbia Wanger Asset Mgmt Lc holds 464,000 shares or 0.38% of its portfolio. Teachers Retirement System Of The State Of Kentucky owns 77,701 shares. reported 0% in Alkermes plc (NASDAQ:ALKS). Opus Point Prtn Limited Liability Corporation holds 2.07% of its portfolio in Alkermes plc (NASDAQ:ALKS) for 43,763 shares. Tudor Investment Corp Et Al holds 0.02% or 12,708 shares. Atlantic Grp Inc Ltd Llc has 169,292 shares for 0.04% of their portfolio. 356,455 are owned by Wells Fargo Com Mn. Suntrust Banks Inc holds 47,073 shares.

Alkermes (NASDAQ:ALKS) Stock Upgrade

Citigroup has upgraded shares of Alkermes (NASDAQ:ALKS) to a “Buy” and at this point in time has a $62.0000 target on the stock. This was disclosed in a research report earlier today. Citigroup’s target indicates a possible upside of 30.03 %.

Alkermes plc (NASDAQ:ALKS) Ratings Coverage

Among 6 analysts covering Alkermes (NASDAQ:ALKS), 2 have Buy rating, 0 Sell and 4 Hold. Therefore 33% are positive. Alkermes has $67 highest and $4400 lowest target. $55.80’s average target is 17.03% above currents $47.68 stock price. Alkermes had 8 analyst reports since November 28, 2017 according to SRatingsIntel. The stock of Alkermes plc (NASDAQ:ALKS) earned “Buy” rating by Credit Suisse on Tuesday, November 28. The rating was maintained by Morgan Stanley with “Equal-Weight” on Friday, February 23. The rating was maintained by Cantor Fitzgerald with “Hold” on Thursday, May 10. The company was maintained on Monday, April 2 by Cantor Fitzgerald. Cantor Fitzgerald maintained the shares of ALKS in report on Tuesday, February 20 with “Hold” rating. Jefferies downgraded Alkermes plc (NASDAQ:ALKS) on Thursday, February 22 to “Hold” rating.

The stock increased 3.11% or $1.44 during the last trading session, reaching $47.68. About 1.33M shares traded or 8.74% up from the average. Alkermes plc (NASDAQ:ALKS) has declined 0.51% since May 16, 2017 and is downtrending. It has underperformed by 12.06% the S&P500.

Analysts await Alkermes plc (NASDAQ:ALKS) to report earnings on July, 26. They expect $-0.28 earnings per share, down 115.38 % or $0.15 from last year’s $-0.13 per share. After $-0.20 actual earnings per share reported by Alkermes plc for the previous quarter, Wall Street now forecasts 40.00 % negative EPS growth.

Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products that are designed to address unmet medical needs of patients in various therapeutic areas worldwide. The company has market cap of $7.39 billion. The companyÂ’s marketed products include ARISTADA 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; AMPYRA (dalfampridine)/FAMPYRA (fampridine) to enhance walking in adults with multiple sclerosis who have walking disability; and BYDUREON (exenatide extended-release for injectable suspension) for the treatment of type 2 diabetes. It currently has negative earnings. It is also developing ALKS 5461 that is in Phase III clinical trials for the treatment of depressive disorder; ALKS 3831, which is in Phase III clinical trials to treat schizophrenia; ALKS 8700, a monomethyl fumarate molecule, which is in Phase III clinical trials to treat multiple sclerosis; ALKS 6428, which is in Phase III clinical trials to help physicians transition patients from physical dependence on opioids; and Aripiprazole lauroxil, an injectable atypical antipsychotic, which has completed a Phase I clinical trials for the treatment of schizophrenia, as well as ALKS 4230, a cell activator that is in Phase I clinical trials for cancer immunotherapy.

More notable recent Alkermes plc (NASDAQ:ALKS) news were published by: Seekingalpha.com which released: “Premarket analyst action – healthcare” on May 16, 2018, also Seekingalpha.com with their article: “Key events next week – healthcare” published on May 04, 2018, 247Wallst.com published: “Top Analyst Upgrades and Downgrades: AMC, Alkermes, Echostar, Kohls, L Brands, US Bancorp, Sarepta …” on May 11, 2018. More interesting news about Alkermes plc (NASDAQ:ALKS) were released by: Seekingalpha.com and their article: “Alkermes’ ALKS 5461 Moves Closer To Commercialization” published on April 24, 2018 as well as Seekingalpha.com‘s news article titled: “J&J cost cutting plan may pressure suppliers – Bloomberg” with publication date: April 17, 2018.

Alkermes plc (NASDAQ:ALKS) Ratings Chart

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