Deutsche Bank Aktiengesellschaft Has Lowered Expectations for Alkermes (NASDAQ:ALKS) Stock Price

Alkermes (NASDAQ:ALKS) had its price target dropped by stock analysts at Deutsche Bank Aktiengesellschaft from $55.00 to $45.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s target price suggests a potential upside of 54.96% from the stock’s current price.

Several other equities research analysts have also recently commented on ALKS. Mizuho raised their target price on Alkermes from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. Wells Fargo & Company reduced their price objective on shares of Alkermes from $44.00 to $42.00 and set an “overweight” rating for the company in a research report on Wednesday, October 29th. Truist Financial initiated coverage on shares of Alkermes in a research note on Tuesday. They issued a “buy” rating and a $50.00 price objective for the company. Zacks Research upgraded shares of Alkermes from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 22nd. Finally, Royal Bank Of Canada raised their price target on shares of Alkermes from $45.00 to $47.00 and gave the stock an “outperform” rating in a report on Wednesday, October 22nd. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Alkermes currently has an average rating of “Moderate Buy” and an average price target of $44.31.

Alkermes Stock Down 6.4%

ALKS stock opened at $29.04 on Thursday. The firm has a market cap of $4.80 billion, a price-to-earnings ratio of 14.38, a PEG ratio of 1.70 and a beta of 0.53. Alkermes has a 12-month low of $25.17 and a 12-month high of $36.45. The company’s fifty day simple moving average is $30.02 and its 200 day simple moving average is $29.53.

Alkermes (NASDAQ:ALKS) last issued its quarterly 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. Alkermes had a return on equity of 21.81% and a net margin of 22.27%.The firm had revenue of $394.19 million during the quarter, compared to the consensus estimate of $355.23 million. During the same period last year, the business posted $0.73 EPS. The business’s revenue was up 4.3% compared to the same quarter last year. Alkermes has set its FY 2025 guidance at 1.360-1.470 EPS. Research analysts expect that Alkermes will post 1.31 earnings per share for the current year.

Insider Activity

In related news, EVP Craig C. Hopkinson sold 9,000 shares of Alkermes stock in a transaction on 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 approximately $2,118,701.20. This trade represents a 11.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Assetmark Inc. grew its holdings in shares of Alkermes by 933.8% during the third quarter. Assetmark Inc. now owns 827 shares of the company’s stock valued at $25,000 after buying an additional 747 shares during the last quarter. Twin Tree Management LP bought a new position in Alkermes in the 1st quarter valued at about $29,000. Armstrong Advisory Group Inc. bought a new position in Alkermes in the 2nd quarter valued at about $29,000. Johnson Financial Group Inc. acquired a new position in Alkermes during the 3rd quarter valued at about $31,000. Finally, Brooklyn Investment Group increased its holdings in Alkermes by 1,071.1% during the 1st quarter. Brooklyn Investment Group now owns 1,054 shares of the company’s stock worth $35,000 after purchasing an additional 964 shares in the last quarter. 95.21% of the stock is owned by institutional investors.

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.