Alkermes plc (NASDAQ:ALKS) Receives $44.69 Average PT from Brokerages

Alkermes plc (NASDAQ:ALKS) has received an average recommendation of “Moderate Buy” from the sixteen research firms that are presently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $44.6923.

A number of research analysts recently issued reports on ALKS shares. Piper Sandler reaffirmed an “overweight” rating and set a $45.00 target price (up from $38.00) on shares of Alkermes in a report on Thursday, October 23rd. Wells Fargo & Company reduced their price objective on shares of Alkermes from $42.00 to $37.00 and set an “overweight” rating for the company in a research report on Thursday, November 13th. Needham & Company LLC boosted their target price on shares of Alkermes from $43.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Jefferies Financial Group set a $56.00 target price on shares of Alkermes and gave the company a “buy” rating in a research note on Tuesday, October 28th. Finally, Zacks Research cut shares of Alkermes from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 20th.

Alkermes Price Performance

ALKS opened at $28.97 on Wednesday. The business has a 50 day moving average price of $30.34 and a two-hundred day moving average price of $29.38. The company has a market capitalization of $4.78 billion, a price-to-earnings ratio of 14.34, a price-to-earnings-growth ratio of 1.39 and a beta of 0.49. Alkermes has a 1-year low of $25.17 and a 1-year high of $36.45.

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

Insider Buying and Selling at Alkermes

In other news, EVP Craig C. Hopkinson sold 4,000 shares of the business’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $29.30, for a total transaction of $117,200.00. Following the sale, the executive vice president directly owned 65,740 shares of the company’s stock, valued at $1,926,182. The trade was a 5.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders sold 22,000 shares of company stock worth $674,390. Company insiders own 4.40% of the company’s stock.

Institutional Trading of Alkermes

Institutional investors and hedge funds have recently bought and sold shares of the stock. Assetmark Inc. boosted its holdings in shares of Alkermes by 933.8% in the third quarter. Assetmark Inc. now owns 827 shares of the company’s stock worth $25,000 after buying an additional 747 shares during the period. Twin Tree Management LP acquired a new position in Alkermes in the 1st quarter worth approximately $29,000. Armstrong Advisory Group Inc. acquired a new position in Alkermes in the 2nd quarter worth approximately $29,000. Johnson Financial Group Inc. purchased a new position in Alkermes during the 3rd quarter worth approximately $31,000. Finally, Brooklyn Investment Group raised its stake in Alkermes by 1,071.1% during the 1st quarter. Brooklyn Investment Group now owns 1,054 shares of the company’s stock valued at $35,000 after purchasing an additional 964 shares during the period. Institutional investors and hedge funds own 95.21% of the company’s stock.

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.