Alkermes Plc (ALKS) is Resumed by Leerink Partners to Outperform, Price Target at $57

Alkermes Plc (ALKS) was Resumed by Leerink Partners to “Outperform” and the brokerage firm has set the Price Target at $57. Leerink Partners advised their investors in a research report released on Oct 4, 2016.

On the company’s financial health, Alkermes Plc reported $-0.01 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $-0.10. The company had revenue of $195.20 million for the quarter, compared to analysts expectations of $174.17 million. The company’s revenue was up 28.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.09 EPS.

Alkermes Plc opened for trading at $47.16 and hit $47.2174 on the upside on Friday, eventually ending the session at $47.03, with a gain of 0.69% or 0.32 points. The heightened volatility saw the trading volume jump to 7,01,140 shares. Company has a market cap of $7,128 M.

In a different news, on Sep 22, 2016, Elliot Ehrich (EVP, R&D & CMO, Alkermes, Inc.) sold 5,000 shares at $50.83 per share price. According to the SEC, on Sep 7, 2016, Iain Michael Brown (SVP Finance & CAO, Alks Inc.) sold 29,976 shares at $46.11 per share price. On Sep 7, 2016, David Joseph Gaffin (SVP, CLO, Alkermes, Inc.) sold 2,382 shares at $45.92 per share price, according to the Form-4 filing with the securities and exchange commission.

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 Company’s main marketed products include RISPERDAL CONSTA INVEGA SUSTENNA/XEPLION AMPYRA/FAMPYRA BYDUREON and VIVITROL.

Alkermes Plc

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