Investment Analysts’ Weekly Ratings Changes for Alkermes (ALKS)

A number of firms have modified their ratings and price targets on shares of Alkermes (NASDAQ: ALKS) recently:

  • 5/2/2022 – Alkermes was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
  • 4/28/2022 – Alkermes had its price target raised by analysts at Mizuho from $35.00 to $36.00.
  • 4/28/2022 – Alkermes had its price target raised by analysts at HC Wainwright from $30.00 to $32.00.
  • 4/27/2022 – Alkermes had its price target raised by analysts at Stifel Nicolaus from $24.00 to $27.00.
  • 4/25/2022 – Alkermes was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong-buy” rating. They now have a $33.00 price target on the stock. According to Zacks, “Alkermes’ portfolio of marketed drugs, Vivitrol and Aristada, continues to drive growth for the company. Approval of new drugs will add another revenue stream in the long run. In June 2021, the FDA approved Lybalvi for the treatment of adults with schizophrenia and bipolar I disorder. The drug was launched in October 2021. The drug is already generating incremental sales. Its pipeline candidate, nemvaleukin alfa, is being developed in multiple studies for treating solid tumors. Other pipeline candidates too are making good progress which holds promise. However, Alkermes is highly dependent on manufacturing and royalty revenues, which is a woe. Recent pipeline setbacks have hurt the stock. Loss estimates have gone down ahead of Q1 earnings. Alkermes has a positive record of earnings surprises in recent quarters.”
  • 4/21/2022 – Alkermes had its price target raised by analysts at SVB Leerink LLC from $24.00 to $25.00. They now have a “market perform” rating on the stock.
  • 4/20/2022 – Alkermes is now covered by analysts at The Goldman Sachs Group, Inc.. They set a “buy” rating and a $35.00 price target on the stock.
  • 4/13/2022 – Alkermes was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
  • 3/31/2022 – Alkermes is now covered by analysts at StockNews.com. They set a “buy” rating on the stock.
  • 3/22/2022 – Alkermes had its price target raised by analysts at Citigroup Inc. from $22.00 to $26.00. They now have a “neutral” rating on the stock.

Shares of ALKS opened at $26.95 on Wednesday. The company has a market cap of $4.40 billion, a price-to-earnings ratio of -70.92 and a beta of 0.75. Alkermes plc has a twelve month low of $21.17 and a twelve month high of $33.00. The company has a quick ratio of 1.86, a current ratio of 2.19 and a debt-to-equity ratio of 0.27. The company has a 50 day moving average of $27.29 and a two-hundred day moving average of $25.50.

Alkermes (NASDAQ:ALKSGet Rating) last announced its earnings results on Wednesday, April 27th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.11. The company had revenue of $278.55 million during the quarter, compared to the consensus estimate of $256.02 million. Alkermes had a negative net margin of 5.13% and a positive return on equity of 3.87%. Alkermes’s revenue was up 10.8% compared to the same quarter last year. During the same period last year, the firm earned $0.01 earnings per share. On average, sell-side analysts expect that Alkermes plc will post -0.6 EPS for the current year.

In other Alkermes news, EVP Craig C. Hopkinson sold 2,306 shares of the firm’s stock in a transaction on Friday, February 18th. The shares were sold at an average price of $25.17, for a total value of $58,042.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Richard F. Pops sold 93,747 shares of the firm’s stock in a transaction on Friday, May 6th. The stock was sold at an average price of $27.85, for a total transaction of $2,610,853.95. Following the completion of the transaction, the chief executive officer now directly owns 968,299 shares of the company’s stock, valued at approximately $26,967,127.15. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 233,035 shares of company stock valued at $6,595,865. 4.63% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Morgan Stanley raised its holdings in shares of Alkermes by 60.2% during the second quarter. Morgan Stanley now owns 866,050 shares of the company’s stock worth $21,237,000 after purchasing an additional 325,610 shares during the last quarter. Raymond James & Associates raised its holdings in shares of Alkermes by 79.3% during the third quarter. Raymond James & Associates now owns 15,730 shares of the company’s stock worth $485,000 after purchasing an additional 6,958 shares during the last quarter. Advisor Group Holdings Inc. raised its holdings in shares of Alkermes by 30.7% during the third quarter. Advisor Group Holdings Inc. now owns 5,516 shares of the company’s stock worth $171,000 after purchasing an additional 1,295 shares during the last quarter. Swiss National Bank raised its holdings in shares of Alkermes by 1.0% during the third quarter. Swiss National Bank now owns 354,500 shares of the company’s stock worth $10,933,000 after purchasing an additional 3,500 shares during the last quarter. Finally, Mackenzie Financial Corp purchased a new position in shares of Alkermes during the third quarter worth $287,000. 98.93% of the stock is owned by institutional investors and hedge funds.

Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in various therapeutic areas in the United States, Ireland, and internationally. Its marketed products include ARISTADA, an intramuscular injectable suspension for the treatment of schizophrenia; VIVITROL for the treatment of alcohol and prevention of opioid dependence; RISPERDAL CONSTA for the treatment of schizophrenia and bipolar I disorder; INVEGA SUSTENNA for the treatment of schizophrenia and schizoaffective disorder; XEPLION, INVEGA TRINZA, and TREVICTA to treat schizophrenia and schizoaffective; and VUMERITY for the treatment of relapsing forms of multiple sclerosis in adults, including clinically isolated syndrome, relapsing-remitting and active secondary progressive diseases.

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