Alkermes plc (NASDAQ:ALKS) Receives $44.69 Average Price Target from Analysts

Shares of Alkermes plc (NASDAQ:ALKS) have received a consensus rating of “Moderate Buy” from the sixteen brokerages that are currently covering the stock, MarketBeat.com reports. Three equities research 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 target price among brokers that have covered the stock in the last year is $44.6923.

Several brokerages have recently commented on ALKS. Wells Fargo & Company decreased their price objective 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. Needham & Company LLC boosted their target price on Alkermes from $43.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Truist Financial upped their price target on Alkermes from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, November 17th. Zacks Research raised Alkermes from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 13th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $45.00 price objective (up previously from $38.00) on shares of Alkermes in a report on Thursday, October 23rd.

Alkermes Trading Up 6.6%

NASDAQ ALKS opened at $33.85 on Thursday. The stock has a fifty day simple moving average of $29.17 and a 200-day simple moving average of $29.18. The stock has a market cap of $5.59 billion, a PE ratio of 16.76 and a beta of 0.48. Alkermes has a twelve month low of $25.17 and a twelve month high of $36.45.

Alkermes (NASDAQ:ALKS) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.08. The firm 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 was up 4.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.73 EPS. Alkermes has set its FY 2025 guidance at 1.360-1.470 EPS. Research analysts predict that Alkermes will post 1.31 EPS for the current year.

Insider Transactions at Alkermes

In other news, EVP Craig C. Hopkinson sold 5,000 shares of the stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $30.00, for a total transaction of $150,000.00. Following the sale, the executive vice president owned 61,740 shares of the company’s stock, valued at approximately $1,852,200. This represents a 7.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 25,748 shares of company stock worth $765,060 in the last 90 days. 4.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alkermes

Several large investors have recently added to or reduced their stakes in ALKS. Royal Bank of Canada boosted its position in Alkermes by 117.2% in the 1st quarter. Royal Bank of Canada now owns 275,526 shares of the company’s stock valued at $9,098,000 after buying an additional 148,696 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Alkermes in the first quarter valued at $213,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Alkermes by 4.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 482,332 shares of the company’s stock valued at $15,927,000 after purchasing an additional 20,091 shares during the period. Strs Ohio purchased a new position in Alkermes in the first quarter valued at $1,403,000. Finally, Financiere des Professionnels Fonds d investissement inc. acquired a new position in Alkermes during the 2nd quarter worth $213,000. 95.21% of the stock is owned by hedge funds and other institutional investors.

Alkermes Company Profile

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.