In a report released today, Douglas Tsao from H.C. Wainwright reiterated a Hold rating on Alkermes (ALKS), with a price target of $23.00. The company’s shares closed last Wednesday at $18.91.
According to TipRanks.com, Tsao is a 4-star analyst with an average return of 7.8% and a 49.4% success rate. Tsao covers the Healthcare sector, focusing on stocks such as Crinetics Pharmaceuticals, Protagonist Therapeutics, and Minerva Neurosciences.
Alkermes has an analyst consensus of Hold, with a price target consensus of $19.40, a -1.5% downside from current levels. In a report released yesterday, Cantor Fitzgerald also maintained a Hold rating on the stock with a $20.00 price target.
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Based on Alkermes’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $246 million and GAAP net loss of $38.65 million. In comparison, last year the company earned revenue of $223 million and had a GAAP net loss of $96.4 million.
Based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ALKS in relation to earlier this year. Earlier this month, Michael Landine, the SVP, Corp Dev., Alkermes, Inc. of ALKS bought 5,523 shares for a total of $99,966.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Alkermes Plc is a biopharmaceutical company, which engages in the development, research, and commercialization of medicines that are designed to address unmet medical needs of patients in major therapeutic areas. Its products include Aristada, which is used for the treatment of schizophrenia in adults; and Vivitrol, which is an injectable medication for the treatment of alcohol dependence and for the prevention of relapse to opioid dependence, following opioid detoxification. The company was founded on May 4, 2011 and is headquartered in Dublin, Ireland.