Alkermes plc (NASDAQ:ALKS) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Alkermes plc (NASDAQ:ALKS) have been assigned an average rating of “Moderate Buy” from the sixteen research firms that are presently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $44.6923.

ALKS has been the subject of several research reports. Wall Street Zen cut shares of Alkermes from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 9th. Deutsche Bank Aktiengesellschaft lowered their target price on Alkermes from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Alkermes in a report on Monday, December 29th. Mizuho upped their price objective on Alkermes from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, October 27th. Finally, Royal Bank Of Canada raised their target price on Alkermes from $45.00 to $47.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd.

Alkermes Stock Performance

NASDAQ ALKS opened at $30.62 on Thursday. The business has a fifty day moving average price of $29.21 and a 200 day moving average price of $29.07. The company has a market cap of $5.06 billion, a P/E ratio of 15.16 and a beta of 0.48. Alkermes has a one year low of $25.17 and a one year high of $36.45.

Alkermes (NASDAQ:ALKS) last released its earnings results on Tuesday, October 28th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.08. The business had revenue of $394.19 million during the quarter, compared to analyst estimates of $355.23 million. Alkermes had a net margin of 22.27% and a return on equity of 21.81%. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.73 earnings per share. Alkermes has set its FY 2025 guidance at 1.360-1.470 EPS. As a group, sell-side analysts predict that Alkermes will post 1.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other Alkermes news, EVP Craig C. Hopkinson sold 9,000 shares of Alkermes stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $30.38, for a total transaction of $273,420.00. Following the completion of the sale, the executive vice president directly owned 69,740 shares in the company, valued at $2,118,701.20. This trade represents a 11.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 25,748 shares of company stock worth $765,060 over the last ninety days. Company insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Alkermes

Hedge funds have recently made changes to their positions in the stock. Wedge Capital Management L L P NC raised its position in Alkermes by 22.1% in the fourth quarter. Wedge Capital Management L L P NC now owns 172,250 shares of the company’s stock valued at $4,820,000 after purchasing an additional 31,160 shares during the period. Exchange Traded Concepts LLC grew its position in Alkermes by 11.9% in the 4th quarter. Exchange Traded Concepts LLC now owns 50,106 shares of the company’s stock valued at $1,402,000 after acquiring an additional 5,347 shares in the last quarter. SG Americas Securities LLC increased its stake in Alkermes by 17.2% during the fourth quarter. SG Americas Securities LLC now owns 35,872 shares of the company’s stock worth $1,004,000 after purchasing an additional 5,255 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Alkermes by 3.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 110,282 shares of the company’s stock valued at $3,086,000 after purchasing an additional 3,721 shares during the period. Finally, Diversified Trust Co. grew its holdings in shares of Alkermes by 4.8% in the fourth quarter. Diversified Trust Co. now owns 49,058 shares of the company’s stock valued at $1,373,000 after purchasing an additional 2,253 shares in the last quarter. Hedge funds and other institutional investors own 95.21% of the company’s stock.

About Alkermes

Alkermes plc is a biopharmaceutical company focused on developing innovative medicines to address unmet needs in the central nervous system (CNS). The company applies its proprietary drug delivery technologies and therapeutic expertise to advance treatments for addiction, schizophrenia, bipolar I disorder and depression. Alkermes’ portfolio includes both commercial products and a pipeline of investigational therapies designed to improve patient outcomes and support long-term disease management.

Alkermes’ commercial franchise features several approved products.