Alkermes (NASDAQ:ALKS) Cut to Buy at Wall Street Zen

Wall Street Zen lowered shares of Alkermes (NASDAQ:ALKS) from a strong-buy rating to a buy rating in a report released on Sunday morning.

ALKS has been the topic of several other research reports. Zacks Research upgraded shares of Alkermes from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 22nd. HC Wainwright reissued a “neutral” rating on shares of Alkermes in a research report on Wednesday, October 22nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Alkermes in a research note on Tuesday, October 14th. Royal Bank Of Canada lifted their target price 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, The Goldman Sachs Group began coverage on Alkermes in a report on Tuesday, July 15th. They issued a “buy” rating and a $43.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $45.23.

Alkermes Trading Up 3.6%

Shares of Alkermes stock opened at $33.81 on Friday. Alkermes has a twelve month low of $25.17 and a twelve month high of $36.45. The stock has a market capitalization of $5.58 billion, a P/E ratio of 16.74, a PEG ratio of 1.70 and a beta of 0.53. The business’s fifty day moving average price is $29.97 and its 200 day moving average price is $29.50.

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

Insider Transactions at Alkermes

In other Alkermes news, EVP Craig C. Hopkinson sold 9,000 shares of the business’s 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 transaction, the executive vice president owned 69,740 shares in the company, valued at $2,118,701.20. The trade was a 11.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 4.40% of the stock is owned by company insiders.

Institutional Trading of Alkermes

A number of hedge funds and other institutional investors have recently modified their holdings of ALKS. Assetmark Inc. lifted its stake in Alkermes by 933.8% during the third quarter. Assetmark Inc. now owns 827 shares of the company’s stock worth $25,000 after purchasing an additional 747 shares during the last quarter. Twin Tree Management LP bought a new stake in Alkermes during the first quarter valued at $29,000. Armstrong Advisory Group Inc. acquired a new stake in shares of Alkermes during the second quarter worth $29,000. Brooklyn Investment Group lifted its position in shares of Alkermes by 1,071.1% in the 1st quarter. Brooklyn Investment Group now owns 1,054 shares of the company’s stock worth $35,000 after buying an additional 964 shares during the last quarter. Finally, Quantbot Technologies LP boosted its holdings in shares of Alkermes by 54.5% in the 1st quarter. Quantbot Technologies LP now owns 1,091 shares of the company’s stock valued at $36,000 after buying an additional 385 shares during the period. 95.21% of the stock is owned by hedge funds and other institutional investors.

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.