Alkermes plc (NASDAQ:ALKS) Receives $44.15 Average PT from Brokerages

Shares of Alkermes plc (NASDAQ:ALKS) have received a consensus recommendation of “Moderate Buy” from the sixteen research firms that are presently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $44.1538.

A number of research firms have recently weighed in on ALKS. The Goldman Sachs Group began coverage on Alkermes in a research report on Tuesday, July 15th. They set a “buy” rating and a $43.00 target price for the company. Zacks Research upgraded Alkermes from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 22nd. Weiss Ratings restated a “hold (c+)” rating on shares of Alkermes in a research report on Tuesday, October 14th. JPMorgan Chase & Co. boosted their target price on Alkermes from $34.00 to $35.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 9th. Finally, Needham & Company LLC boosted their target price on Alkermes from $43.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th.

Insider Buying and Selling

In related news, EVP Craig C. Hopkinson sold 9,000 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $30.38, for a total value of $273,420.00. Following the completion of the sale, the executive vice president owned 69,740 shares in the company, valued at approximately $2,118,701.20. This represents a 11.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Alkermes

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Diversified Trust Co increased its holdings in Alkermes by 0.8% in the second quarter. Diversified Trust Co now owns 44,232 shares of the company’s stock valued at $1,265,000 after purchasing an additional 372 shares during the last quarter. Quantbot Technologies LP increased its holdings in Alkermes by 54.5% in the first quarter. Quantbot Technologies LP now owns 1,091 shares of the company’s stock valued at $36,000 after purchasing an additional 385 shares during the last quarter. Tidal Investments LLC increased its holdings in Alkermes by 1.1% in the second quarter. Tidal Investments LLC now owns 35,130 shares of the company’s stock valued at $1,005,000 after purchasing an additional 395 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in Alkermes by 0.5% in the second quarter. Louisiana State Employees Retirement System now owns 77,000 shares of the company’s stock valued at $2,203,000 after purchasing an additional 400 shares during the last quarter. Finally, Hohimer Wealth Management LLC increased its holdings in shares of Alkermes by 3.8% in the first quarter. Hohimer Wealth Management LLC now owns 12,362 shares of the company’s stock worth $408,000 after acquiring an additional 450 shares in the last quarter. Institutional investors own 95.21% of the company’s stock.

Alkermes Stock Down 1.7%

ALKS stock opened at $30.17 on Friday. The company has a market cap of $4.98 billion, a P/E ratio of 14.94, a PEG ratio of 1.70 and a beta of 0.54. Alkermes has a twelve month low of $25.17 and a twelve month high of $36.45. The business has a fifty day moving average of $29.61 and a 200-day moving average of $29.30.

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

About Alkermes

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.