Revenue Update on Alkermes Plc(NASDAQ:ALKS)

Alkermes Plc(NASDAQ:ALKS) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 28, 2016. Company reported revenue of $195.16M. Analysts estimated a revenue of $174.15M. Earnings per share were $-0.01. Analysts had estimated an EPS of $-0.10.

In a different note, On Jul 26, 2016, Cowen & Company said it Upgrades its rating on Alkermes Plc. The shares have been rated ‘Market Perform’ by the firm. 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) shares turned negative on Thursdays trading session with the shares closing down -0.64 points or -1.29% at a volume of 4,08,379. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $50.09. The peak price level was also seen at $50.09 while the days lowest was $48.84. Finally the shares closed at $48.91. The 52-week high of the shares is $80.71 while the 52-week low is $27.14. According to the latest information available, the market cap of the company is $7,413 M.

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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