Alkermes (NASDAQ:ALKS) Downgraded to Buy Rating by Wall Street Zen

Wall Street Zen downgraded shares of Alkermes (NASDAQ:ALKS) from a strong-buy rating to a buy rating in a research report report published on Sunday.

Several other analysts have also issued reports on ALKS. The Goldman Sachs Group began coverage on Alkermes in a research note on Tuesday, July 15th. They issued a “buy” rating and a $43.00 price objective on the stock. Mizuho increased their price target on Alkermes from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Alkermes in a report on Tuesday, October 14th. Royal Bank Of Canada upped their price objective on shares of Alkermes from $45.00 to $47.00 and gave the company an “outperform” rating in a report on Wednesday, October 22nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Alkermes from $34.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday, September 9th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $44.83.

Alkermes Price Performance

NASDAQ ALKS traded down $0.24 on Friday, hitting $32.65. 1,748,640 shares of the stock were exchanged, compared to its average volume of 1,888,981. The company has a market capitalization of $5.39 billion, a PE ratio of 16.16, a P/E/G ratio of 1.70 and a beta of 0.53. The business’s fifty day moving average is $29.80 and its 200 day moving average is $29.42. Alkermes has a 52 week low of $25.17 and a 52 week high of $36.45.

Alkermes (NASDAQ:ALKS) last released its quarterly earnings data on Tuesday, October 28th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.08. The company had revenue of $394.19 million for 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%. Alkermes’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.73 EPS. Alkermes has set its FY 2025 guidance at 1.360-1.470 EPS. 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 the business’s stock in a transaction dated Monday, November 3rd. The shares were 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 of the company’s stock, valued at $2,118,701.20. The trade was a 11.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 4.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alkermes

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. grew its position in Alkermes by 488.6% during the first quarter. JPMorgan Chase & Co. now owns 5,234,995 shares of the company’s stock worth $172,860,000 after buying an additional 4,345,523 shares in the last quarter. Nuveen LLC acquired a new position in shares of Alkermes during the 1st quarter worth $66,689,000. Norges Bank bought a new stake in shares of Alkermes during the 2nd quarter worth $53,326,000. BNP Paribas Financial Markets lifted its position in shares of Alkermes by 787.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,135,478 shares of the company’s stock worth $32,486,000 after buying an additional 1,007,488 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Alkermes in the third quarter valued at about $27,040,000. 95.21% of the stock is currently owned by institutional investors and hedge funds.

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.