Cowen & Company Upgrades Alkermes Plc to Market Perform

Brokerage firm Cowen & Company Upgrades its rating on Alkermes Plc(NASDAQ:ALKS). The shares have been rated Market Perform. Previously, the analysts had a Outperform rating on the shares. The rating by Cowen & Company was issued on Jul 26, 2016.

In a different note, On Jul 13, 2016, Barclays said it Maintains its rating on Alkermes Plc. In the research note, the firm Raises the price-target to $50.00 per share. The shares have been rated ‘Overweight’ by the firm. Evercore ISI Group said it Initiates Coverage on Alkermes Plc, according to a research note issued on May 26, 2016. The shares have been rated ‘Buy’ by the firm. On May 5, 2016, Cowen & Company said it Assumes its rating on Alkermes Plc. The shares have been rated ‘Market Perform’ by the firm.

Alkermes Plc (ALKS) made into the market gainers list on Fridays trading session with the shares advancing 3.68% or 1.77 points. Due to strong positive momentum, the stock ended at $49.9, which is also near the day’s high of $50.059. The stock began the session at $49 and the volume stood at 14,35,697 shares. The 52-week high of the shares is $80.71 and the 52 week low is $27.14. The company has a current market capitalization of $7,543 M and it has 15,11,65,400 shares in outstanding.

Alkermes Plc(ALKS) last announced its earnings results on Apr 28, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $156.77M. Analysts had an estimated revenue of $153.66M. Earnings per share were $-0.16. Analysts had estimated an EPS of $-0.20.

Several Insider Transactions has been reported to the SEC. On Jul 6, 2016, Paul J Mitchell (director) sold 2,000 shares at $45.81 per share price.Also, On Apr 20, 2016, Richard F Pops (Director and CEO, Alkermes plc) sold 18,750 shares at $40.15 per share price.On Apr 20, 2016, Michael J Landine (SVP, Corp Dev., Alkermes, Inc.) sold 16,875 shares at $41.12 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.

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