Alkermes Receives a Hold from Cantor Fitzgerald

Cantor Fitzgerald analyst William Tanner reiterated a Hold rating on Alkermes (NASDAQ: ALKS) today and set a price target of $51. The company’s shares opened today at $58.17, close to its 52-week high of $60.74.

Tanner said:

“Approvability of 5461 remains uncertain, to us. Management commented that the company recently had a “productive” Type C meeting with the FDA and that NDA filing remains on track for 2017.”

According to TipRanks.com, Tanner is a 3-star analyst with an average return of 4.4% and a 54.4% success rate. Tanner covers the Healthcare sector, focusing on stocks such as Supernus Pharmaceuticals, Intra-Cellular Therapies, and Aquinox Pharmaceuticals.

Alkermes has an analyst consensus of Strong Buy, with a price target consensus of $71.

Based on Alkermes’ latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $180 million and GAAP net loss of $62.69 million. In comparison, last year the company earned revenue of $163 million and had a GAAP net loss of $69.38 million.

Based on the recent corporate insider activity of 98 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.

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. It engages in the development, manufacturing and distribution of medicines. The company was founded on May 4, 2011 and is headquartered in Dublin, Ireland.