Analyst Rating Update on Alkermes plc (ALKS)

Alkermes plc (NASDAQ:ALKS) : The consensus on Alkermes plc (NASDAQ:ALKS) based on 5 analyst recommendation on the company stock is 1.66, which is interpreted as a Buy recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 4 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 1 analyst sees the stock overvalued at current levels and advises a Strong Sell on the stock.

Alkermes plc (NASDAQ:ALKS) : 5 Wall Street analysts covering Alkermes plc (NASDAQ:ALKS) believe that the average level the stock could reach for the short term is $57.8. The maximum price target given is $77 and the minimum target for short term is around $50, hence the standard deviation is calculated at $11.23.

Company shares have received an average consensus rating of Hold for the current week Also, Evercore ISI Group initiates coverage on Alkermes plc (NASDAQ:ALKS) . Analysts at the Evercore ISI Group have a current rating of Buy on the shares. The rating by the firm was issued on May 26, 2016.

Alkermes plc (NASDAQ:ALKS): stock turned positive on Tuesday. Though the stock opened at $40.79, the bulls momentum made the stock top out at $43.22 level for the day. The stock recorded a low of $40.6303 and closed the trading day at $42.6, in the green by 6.47%. The total traded volume for the day was 1,078,809. The stock had closed at $40.01 in the previous days trading.

In an insider trading activity, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director of Alkermes Plc., Mitchell Paul J had sold 2,000 shares worth of $89,940 in a transaction dated June 6, 2016. In this transaction, 2,000 shares were sold at $44.97 per share.

Alkermes Public Limited Company is a biopharmaceutical company. The Company is engaged in researching, developing and commercializing, both with partners and on its own, pharmaceutical products that are designed to meet unmet medical needs of patients in major therapeutic areas. The Company has a portfolio of more than 20 products and a clinical pipeline of product candidates being developed for the treatment of central nervous system (CNS) disorders, such as addiction, schizophrenia and depression. The Company is conducting clinical studies on new pharmaceutical products. These include Aripiprazole Lauroxil, ALKS 5461, ALKS 3831, ALKS 8700 and RDB 1419. The Companys main marketed products include RISPERDAL CONSTA, INVEGA SUSTENNA/XEPLION, AMPYRA/FAMPYRA, BYDUREON and VIVITROL.

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