Finally Time To Raise Your Stake? Citigroup Upgrades Alkermes (NASDAQ:ALKS) Shares

May 17, 2018 - By Kurt Siggers

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

Van Eck Assoc owns 171,116 shares for 0.05% of their portfolio. 84,833 are owned by Aviva Public Ltd. Stifel Finance reported 17,542 shares. Rhumbline Advisers invested in 166,118 shares or 0.02% of the stock. Brown Brothers Harriman And holds 0% or 25 shares in its portfolio. Bankshares Of New York Mellon Corporation reported 1.25 million shares. Metropolitan Life Ins Ny invested in 11,379 shares. Teachers Retirement Of The State Of Kentucky reported 77,701 shares. Group Inc holds 0% or 7,711 shares in its portfolio. The Illinois-based Ubs Asset Americas has invested 0.06% in Alkermes plc (NASDAQ:ALKS). Fmr Llc has invested 0.14% in Alkermes plc (NASDAQ:ALKS). 270,949 are owned by State Of Wisconsin Board. California Pub Employees Retirement Systems holds 0.03% of its portfolio in Alkermes plc (NASDAQ:ALKS) for 373,146 shares. Winfield Associates Inc accumulated 0% or 40 shares. Meditor Limited has 7.26% invested in Alkermes plc (NASDAQ:ALKS).

Alkermes (NASDAQ:ALKS) Stock Upgrade

In an analyst report revealed to clients today, Citigroup upped shares of Alkermes (NASDAQ:ALKS) to a solid “Buy” rating from their previous “Neutral” rating.

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. Morgan Stanley maintained Alkermes plc (NASDAQ:ALKS) on Friday, February 23 with “Equal-Weight” rating. The firm has “Buy” rating by Credit Suisse given on Tuesday, November 28. Jefferies downgraded the stock to “Hold” rating in Thursday, February 22 report. The company was maintained on Thursday, May 10 by Cantor Fitzgerald. The stock has “Hold” rating by Cantor Fitzgerald on Monday, April 2. The company was maintained on Tuesday, February 20 by Cantor Fitzgerald.

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 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: “Premarket analyst action – healthcare” on May 16, 2018, also 247Wallst.com with their article: “Top Analyst Upgrades and Downgrades: AMC, Alkermes, Echostar, Kohls, L Brands, US Bancorp, Sarepta …” published on May 11, 2018, Seekingalpha.com published: “Alkermes’ ALKS 5461 Moves Closer To Commercialization” on April 24, 2018. More interesting news about Alkermes plc (NASDAQ:ALKS) were released by: Seekingalpha.com and their article: “FDA OKs first non-opioid treatment for opioid withdrawal” published on May 16, 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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