UBS Reiterates a Hold Rating on Alkermes

By George MacDonald

According to The Fly, in a report issued on April 28, Marc Goodman from UBS reiterated a Hold rating on Alkermes (NASDAQ: ALKS), with a price target of $34. The company’s shares closed yesterday at $39.75.

Goodman wrote, “(1) For Aristada mgt guided to $7-9M for 2Q16 and noted that it expects the product to gain momentum in the back half of the year as more plans come online. Currently, Aristada has been placed at parity with competition at 3 Medicare and 3 Medicaid programs falling within top 10 plans.”

Alkermes has an analyst consensus of Moderate Buy, with a price target consensus of $44.33.

Based on Alkermes` latest earnings report from March 31, the company posted quarterly revenue of $156.8M and quarterly net profit of -$77.42M. In comparison, last year the company earned revenue of $161.2M and had a net profit of -$30.66M.

Unlike UBS`s latest rating, based on the recent corporate insider activity of 129 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, Iain Michael Brown, a the VP, Finance & CAO of ALKS bought 3,132 shares for a total of $65,114.

According to, Goodman is a 4-star analyst with an average return of 4.0% and a 59.7% success rate. Goodman covers the Healthcare sector, focusing on stocks such as Jazz Pharmaceuticals, Horizon Pharma Inc., and Endo International.

Alkermes Plc is a biopharmaceutical company, which engages in the development, manufacturing and distribution of medicines. It operates through the United States and European Union segments. The company was founded on May 4, 2011 and is headquartered in Dublin, Ireland.