Citigroup Gives Alkermes (ALKS) a Higher Rating. Raises its “Neutral” Rating

May 17, 2018 - By Rusty Cady

Investors sentiment decreased to 0.75 in Q4 2017. Its down 0.29, from 1.04 in 2017Q3. It turned negative, 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.

Suntrust Banks reported 47,073 shares. Tortoise Inv Mgmt invested 0.01% in Alkermes plc (NASDAQ:ALKS). Sg Americas Securities Lc reported 2,086 shares. D E Shaw & owns 0.01% invested in Alkermes plc (NASDAQ:ALKS) for 184,144 shares. Advisory Networks Limited Liability has invested 0% in Alkermes plc (NASDAQ:ALKS). Cornerstone holds 0.02% of its portfolio in Alkermes plc (NASDAQ:ALKS) for 523 shares. Moreover, Pnc Group Inc has 0% invested in Alkermes plc (NASDAQ:ALKS) for 1,661 shares. Shine Inv Advisory Ser reported 512 shares. Aperio Grp Inc Limited Liability Company reported 0.01% of its portfolio in Alkermes plc (NASDAQ:ALKS). 145,000 are held by Orbimed Ltd Liability. State Of Alaska Department Of Revenue, a Alaska-based fund reported 11,200 shares. State Bank Of America De holds 0% of its portfolio in Alkermes plc (NASDAQ:ALKS) for 479,296 shares. Opus Point Prns Mgmt Lc has 2.07% invested in Alkermes plc (NASDAQ:ALKS). Hudson Bay Mgmt L P holds 50,000 shares. Bnp Paribas Arbitrage Sa owns 0.01% invested in Alkermes plc (NASDAQ:ALKS) for 110,759 shares.

Alkermes (ALKS) Stock Upgrade

In a report revealed to investors and clients on Wednesday, 16 May, professional analysts at the Citigroup equity division upgraded shares of Alkermes (ALKS) stock from a “Neutral” to a respectable “Buy” 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 (ALKS) has declined 0.51% since May 17, 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: “Alkermes’ ALKS 5461 Moves Closer To Commercialization” on April 24, 2018, also Prnewswire.com with their article: “Alkermes to Host Webcast and Conference Call to Discuss ALKS 3831 Development Program” published on May 03, 2018, Seekingalpha.com published: “Premarket analyst action – healthcare” on May 16, 2018. More interesting news about Alkermes plc (NASDAQ:ALKS) were released by: Seekingalpha.com and their article: “J&J cost cutting plan may pressure suppliers – Bloomberg” published on April 17, 2018 as well as 247Wallst.com‘s news article titled: “Top Analyst Upgrades and Downgrades: AMC, Alkermes, Echostar, Kohls, L Brands, US Bancorp, Sarepta …” with publication date: May 11, 2018.

Alkermes plc (NASDAQ:ALKS) Ratings Chart

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