Alkermes (ALKS) Gets a Buy Rating from J.P. Morgan

By Ryan Adsit

In a report released yesterday, Cory Kasimov from J.P. Morgan assigned a Buy rating to Alkermes (ALKSResearch Report). The company’s shares opened today at $36.29.

According to TipRanks.com, Kasimov is a 3-star analyst with an average return of 1.2% and a 42.2% success rate. Kasimov covers the Healthcare sector, focusing on stocks such as ACADIA Pharmaceuticals Inc, Global Blood Therapeutics, and Allogene Therapeutics Inc.

Currently, the analyst consensus on Alkermes is a Hold with an average price target of $35.83.

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Based on Alkermes’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $9.71 million. In comparison, last year the company had a GAAP net loss of $62.51 million.

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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 the brands Aristada and Vivitrol. The company was founded on May 4, 2011 and is headquartered in Dublin, Ireland.