Alkermes’ (ALKS) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Alkermes (NASDAQ:ALKS) in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has a $62.00 target price on the stock.

A number of other analysts have also recently commented on the company. HC Wainwright reiterated a “neutral” rating on shares of Alkermes in a research report on Thursday, July 30th. Wells Fargo & Company upped their target price on shares of Alkermes from $44.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Stifel Nicolaus reaffirmed a “buy” rating and set a $63.00 price target (up from $45.00) on shares of Alkermes in a research note on Monday, July 20th. JPMorgan Chase & Co. lifted their price target on shares of Alkermes from $60.00 to $61.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Finally, Mizuho raised shares of Alkermes to a “strong-buy” rating in a research report on Wednesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $54.75.

Alkermes Stock Performance

Alkermes stock opened at $42.13 on Monday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.85 and a current ratio of 2.30. The stock has a fifty day moving average of $48.46 and a two-hundred day moving average of $42.24. The company has a market capitalization of $7.07 billion, a price-to-earnings ratio of 110.87 and a beta of 0.31. Alkermes has a fifty-two week low of $26.99 and a fifty-two week high of $55.67.

Insiders Place Their Bets

In other news, EVP Craig C. Hopkinson sold 9,000 shares of the company’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $46.99, for a total transaction of $422,910.00. Following the completion of the transaction, the executive vice president owned 65,389 shares of the company’s stock, valued at $3,072,629.11. This represents a 12.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Christian Nichols sold 7,576 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $49.23, for a total transaction of $372,966.48. Following the transaction, the senior vice president owned 102,193 shares in the company, valued at approximately $5,030,961.39. The trade was a 6.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 85,150 shares of company stock worth $4,242,213 over the last 90 days. Corporate insiders own 4.59% of the company’s stock.

Hedge Funds Weigh In On Alkermes

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Baker BROS. Advisors LP grew its stake in shares of Alkermes by 23.7% during the 4th quarter. Baker BROS. Advisors LP now owns 10,012,267 shares of the company’s stock valued at $280,143,000 after buying an additional 1,920,916 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Alkermes by 2.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,522,378 shares of the company’s stock worth $159,850,000 after buying an additional 109,595 shares during the period. Commodore Capital LP raised its position in shares of Alkermes by 18.3% in the 1st quarter. Commodore Capital LP now owns 4,200,000 shares of the company’s stock worth $148,512,000 after buying an additional 650,000 shares during the period. Geode Capital Management LLC boosted its holdings in Alkermes by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 4,080,776 shares of the company’s stock valued at $114,198,000 after acquiring an additional 19,382 shares during the last quarter. Finally, First Trust Advisors LP grew its position in Alkermes by 104.2% during the first quarter. First Trust Advisors LP now owns 2,968,785 shares of the company’s stock valued at $104,976,000 after acquiring an additional 1,514,783 shares during the period. Institutional investors and hedge funds own 95.21% of the company’s stock.

Key Alkermes News

Here are the key news stories impacting Alkermes this week:

• Positive Sentiment: Alkermes reported positive Phase Ib/Phase I results for ALKS 7290, an orexin agonist being developed for ADHD. The study showed meaningful improvements in ADHD symptoms across dose levels in healthy volunteers and adults, strengthening the case for further clinical development. Alkermes Posts Positive Data From Phase I ADHD Study on ALKS 7290
• Positive Sentiment: Coverage from STAT and Medscape characterized the treatment as a potentially novel, first-in-class approach for ADHD. However, the results remain early-stage and will require confirmation in larger patient trials. Alkermes’ orexin agonist shows potential to treat ADHD in early-stage trial
• Positive Sentiment: RBC said the ADHD data increased confidence in ALKS 7290 and Alkermes’ broader orexin pipeline. RBC reaffirmed an “outperform” rating with a $56 price target, while Robert W. Baird raised its target to $61 and maintained an “outperform” rating. Alkermes ADHD Data Boosts Confidence in ALKS 7290
• Neutral Sentiment: Needham reiterated its “Buy” rating, and analysts overall continue to assign Alkermes a “Moderate Buy” consensus view. These ratings provide valuation support but do not eliminate clinical or commercial risks. Needham Reiterates Buy Rating for Alkermes
• Negative Sentiment: A Seeking Alpha analysis downgraded Alkermes, arguing that competitors Takeda and Eli Lilly could limit the commercial upside of orexin-based treatments. The report highlights competition and the uncertainty surrounding an early-stage pipeline, which may be offsetting the favorable trial news. Alkermes: The Orexin Upside Is Real, But Takeda And Lilly Stand In The Way

Alkermes Company Profile

Alkermes plc (NASDAQ: ALKS) is a biopharmaceutical company focused on developing and commercializing medicines for central nervous system diseases. Its research and development activities include treatments for schizophrenia, bipolar disorder, addiction and other serious neurological or psychiatric conditions, with an emphasis on long-acting injectable and extended-release formulations.

The company’s marketed products include VIVITROL, an extended-release injectable form of naltrexone used to treat alcohol dependence and prevent relapse to opioid dependence after detoxification; ARISTADA, an extended-release injectable formulation of aripiprazole lauroxil for the treatment of schizophrenia in adults; and LYBALVI, an oral combination of olanzapine and samidorphan approved for schizophrenia and bipolar I disorder in adults.

Founded in Ireland in 1987, Alkermes has developed drug-delivery technologies intended to help extend dosing intervals and support medication adherence.