Alkermes plc (NASDAQ:ALKS) Receives Consensus Rating of “Moderate Buy” from Analysts

Alkermes plc (NASDAQ:ALKS) has been given an average recommendation of “Moderate Buy” by the twelve brokerages that are presently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $41.0833.

Several equities analysts have recently issued reports on ALKS shares. The Goldman Sachs Group started coverage on shares of Alkermes in a report on Tuesday, July 15th. They issued a “buy” rating and a $43.00 price target for the company. Robert W. Baird boosted their price target on shares of Alkermes from $38.00 to $41.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. Cantor Fitzgerald raised shares of Alkermes to a “strong-buy” rating in a report on Tuesday, May 13th. Wall Street Zen lowered shares of Alkermes from a “strong-buy” rating to a “buy” rating in a report on Monday, May 5th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $45.00 price target on shares of Alkermes in a report on Tuesday, July 29th.

Alkermes Price Performance

Shares of Alkermes stock opened at $29.75 on Monday. The firm has a market cap of $4.91 billion, a P/E ratio of 14.30, a P/E/G ratio of 1.67 and a beta of 0.47. The firm has a 50 day simple moving average of $28.34 and a 200 day simple moving average of $30.47. Alkermes has a fifty-two week low of $25.56 and a fifty-two week high of $36.45.

Alkermes (NASDAQ:ALKS) last released its earnings results on Tuesday, July 29th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.10. Alkermes had a net margin of 23.15% and a return on equity of 24.86%. The firm had revenue of $390.66 million during the quarter, compared to analyst estimates of $343.20 million. During the same quarter in the previous year, the business earned $1.16 EPS. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. Alkermes has set its FY 2025 guidance at 1.030-1.210 EPS. On average, sell-side analysts expect that Alkermes will post 1.31 EPS for the current year.

Insider Buying and Selling

In related news, SVP Christian Todd Nichols sold 3,334 shares of the business’s stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $31.09, for a total value of $103,654.06. Following the sale, the senior vice president directly owned 86,208 shares of the company’s stock, valued at approximately $2,680,206.72. The trade was a 3.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Alkermes

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALKS. Ritholtz Wealth Management acquired a new position in shares of Alkermes during the 1st quarter worth about $348,000. Victory Capital Management Inc. increased its stake in shares of Alkermes by 30.9% during the 1st quarter. Victory Capital Management Inc. now owns 120,997 shares of the company’s stock worth $3,995,000 after purchasing an additional 28,596 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Alkermes by 31.9% during the 1st quarter. GAMMA Investing LLC now owns 5,396 shares of the company’s stock worth $178,000 after purchasing an additional 1,305 shares during the last quarter. Captrust Financial Advisors increased its stake in shares of Alkermes by 9.7% during the 4th quarter. Captrust Financial Advisors now owns 18,362 shares of the company’s stock worth $528,000 after purchasing an additional 1,619 shares during the last quarter. Finally, Fifth Third Bancorp increased its stake in shares of Alkermes by 54.4% during the 1st quarter. Fifth Third Bancorp now owns 1,479 shares of the company’s stock worth $49,000 after purchasing an additional 521 shares during the last quarter. 95.21% of the stock is owned by institutional investors.

About Alkermes

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.