Alkermes plc (NASDAQ:ALKS) Receives Average Recommendation of “Moderate Buy” from Brokerages

Alkermes plc (NASDAQ:ALKS) has earned a consensus rating of “Moderate Buy” from the sixteen brokerages that are presently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $44.6923.

ALKS has been the topic of several research analyst reports. Piper Sandler restated an “overweight” rating and issued a $45.00 price objective (up from $38.00) on shares of Alkermes in a research report on Thursday, October 23rd. Deutsche Bank Aktiengesellschaft decreased their target price on Alkermes from $55.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. Needham & Company LLC upped their price target on Alkermes from $43.00 to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Alkermes in a report on Tuesday, October 14th. Finally, Wells Fargo & Company lowered their target price on shares of Alkermes from $42.00 to $37.00 and set an “overweight” rating on the stock in a report on Thursday, November 13th.

Insider Buying and Selling

In other Alkermes news, EVP Craig C. Hopkinson sold 9,000 shares of the 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 transaction, the executive vice president owned 69,740 shares of the company’s stock, valued at $2,118,701.20. This represents a 11.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CIBC Bancorp USA Inc. purchased a new position in shares of Alkermes during the third quarter valued at approximately $519,000. Centaurus Financial Inc. lifted its stake in shares of Alkermes by 20.7% during the 3rd quarter. Centaurus Financial Inc. now owns 5,602 shares of the company’s stock worth $168,000 after acquiring an additional 960 shares during the last quarter. Danske Bank A S purchased a new position in Alkermes during the 3rd quarter valued at $1,004,000. XTX Topco Ltd bought a new position in Alkermes in the 3rd quarter valued at $1,339,000. Finally, Virtus Advisers LLC grew its position in Alkermes by 591.3% in the 3rd quarter. Virtus Advisers LLC now owns 47,708 shares of the company’s stock valued at $1,431,000 after acquiring an additional 40,807 shares during the last quarter. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Alkermes Price Performance

Shares of NASDAQ ALKS opened at $28.99 on Wednesday. The stock has a market cap of $4.79 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 1.70 and a beta of 0.53. Alkermes has a 1 year low of $25.17 and a 1 year high of $36.45. The firm has a fifty day moving average price of $30.21 and a 200-day moving average price of $29.45.

Alkermes (NASDAQ:ALKS) last released its earnings results on Tuesday, October 28th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.08. The company had revenue of $394.19 million for the quarter, compared to analysts’ expectations of $355.23 million. Alkermes had a net margin of 22.27% and a return on equity of 21.81%. Alkermes’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.73 EPS. Alkermes has set its FY 2025 guidance at 1.360-1.470 EPS. On average, research analysts expect that Alkermes will post 1.31 EPS for the current year.

Alkermes Company Profile

Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in therapeutic areas in the United States, Ireland, and internationally. It has a portfolio of proprietary commercial products for the treatment of alcohol dependence, opioid dependence, schizophrenia and bipolar I disorder and a pipeline of clinical and preclinical product candidates in development for neurological disorders.