Alkermes (NASDAQ:ALKS) Price Target Lowered to $45.00 at Deutsche Bank Aktiengesellschaft

Alkermes (NASDAQ:ALKS) had its target price cut by stock analysts at Deutsche Bank Aktiengesellschaft from $55.00 to $45.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price target would indicate a potential upside of 43.47% from the company’s current price.

ALKS has been the topic of several other reports. Wall Street Zen lowered shares of Alkermes from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Weiss Ratings reissued a “hold (c+)” rating on shares of Alkermes in a research report on Tuesday, October 14th. Royal Bank Of Canada increased their price target on Alkermes from $45.00 to $47.00 and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. Piper Sandler reiterated an “overweight” rating and set a $45.00 target price (up from $38.00) on shares of Alkermes in a research note on Thursday, October 23rd. Finally, Needham & Company LLC boosted their price target on Alkermes from $43.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. 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 company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $44.69.

Alkermes Stock Performance

Shares of ALKS stock traded down $0.05 during midday trading on Thursday, reaching $31.37. 156,483 shares of the company were exchanged, compared to its average volume of 1,911,093. The company’s 50 day moving average price is $29.99 and its two-hundred day moving average price is $29.51. Alkermes has a 12 month low of $25.17 and a 12 month high of $36.45. The company has a market cap of $5.18 billion, a P/E ratio of 15.54, a PEG ratio of 1.70 and a beta of 0.53.

Alkermes (NASDAQ:ALKS) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.08. The business had revenue of $394.19 million for the quarter, compared to the consensus estimate of $355.23 million. Alkermes had a return on equity of 21.81% and a net margin of 22.27%.Alkermes’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company 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 earnings per share for the current year.

Insider Activity at Alkermes

In related news, EVP Craig C. Hopkinson sold 9,000 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $30.38, for a total transaction of $273,420.00. Following the completion of the sale, the executive vice president directly owned 69,740 shares in the company, valued at $2,118,701.20. This represents a 11.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Alkermes

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State Street Corp increased its position in shares of Alkermes by 2.3% during the 2nd quarter. State Street Corp now owns 8,208,256 shares of the company’s stock valued at $234,838,000 after purchasing an additional 185,586 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Alkermes by 488.6% in the first quarter. JPMorgan Chase & Co. now owns 5,234,995 shares of the company’s stock valued at $172,860,000 after acquiring an additional 4,345,523 shares during the period. Baker BROS. Advisors LP grew its stake in Alkermes by 7.2% in the first quarter. Baker BROS. Advisors LP now owns 4,483,285 shares of the company’s stock worth $148,038,000 after purchasing an additional 301,534 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Alkermes by 20.2% during the third quarter. American Century Companies Inc. now owns 4,397,471 shares of the company’s stock valued at $131,924,000 after purchasing an additional 740,248 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Alkermes by 2.1% during the second quarter. Geode Capital Management LLC now owns 4,023,552 shares of the company’s stock valued at $115,128,000 after acquiring an additional 83,858 shares during the last quarter. 95.21% of the stock is owned by 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.