FY2027 Earnings Forecast for Alkermes plc Issued By Leerink Partnrs (NASDAQ:ALKS)

Alkermes plc (NASDAQ:ALKS) – Equities research analysts at Leerink Partnrs decreased their FY2027 EPS estimates for Alkermes in a research note issued on Tuesday, April 9th. Leerink Partnrs analyst M. Goodman now anticipates that the company will earn $1.35 per share for the year, down from their prior forecast of $1.45. The consensus estimate for Alkermes’ current full-year earnings is $2.23 per share. Leerink Partnrs also issued estimates for Alkermes’ FY2028 earnings at $0.89 EPS.

Alkermes (NASDAQ:ALKS) last issued its quarterly earnings results on Thursday, February 15th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.29). The business had revenue of $377.50 million for the quarter, compared to analyst estimates of $362.78 million. Alkermes had a return on equity of 16.10% and a net margin of 21.39%. The firm’s revenue for the quarter was up 23.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.02) EPS.

Several other brokerages have also recently issued reports on ALKS. Jefferies Financial Group increased their price target on shares of Alkermes from $42.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday. UBS Group cut shares of Alkermes from a “neutral” rating to a “sell” rating and set a $25.00 target price on the stock. in a report on Tuesday, February 20th. Piper Sandler reaffirmed an “overweight” rating and issued a $39.00 target price on shares of Alkermes in a report on Monday, April 1st. Robert W. Baird initiated coverage on shares of Alkermes in a report on Tuesday, March 19th. They issued an “outperform” rating and a $37.00 target price on the stock. Finally, TheStreet raised shares of Alkermes from a “c+” rating to a “b” rating in a report on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $35.25.

Alkermes Stock Down 4.4 %

Shares of ALKS opened at $24.99 on Thursday. The stock has a market capitalization of $4.23 billion, a PE ratio of 12.07 and a beta of 0.55. Alkermes has a 1 year low of $22.01 and a 1 year high of $33.71. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.50 and a current ratio of 2.86. The company’s 50-day simple moving average is $28.17 and its 200-day simple moving average is $27.19.

Hedge Funds Weigh In On Alkermes

A number of hedge funds have recently modified their holdings of ALKS. Wellington Management Group LLP grew its position in shares of Alkermes by 52.7% during the third quarter. Wellington Management Group LLP now owns 11,746,792 shares of the company’s stock worth $329,028,000 after acquiring an additional 4,055,926 shares during the last quarter. RTW Investments LP lifted its holdings in shares of Alkermes by 338.8% during the fourth quarter. RTW Investments LP now owns 3,901,523 shares of the company’s stock worth $108,228,000 after purchasing an additional 3,012,450 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Alkermes by 12.3% during the fourth quarter. Vanguard Group Inc. now owns 20,955,454 shares of the company’s stock worth $581,304,000 after purchasing an additional 2,288,185 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Alkermes during the first quarter worth $56,494,000. Finally, Millennium Management LLC lifted its holdings in shares of Alkermes by 164.9% during the fourth quarter. Millennium Management LLC now owns 3,427,885 shares of the company’s stock worth $89,571,000 after purchasing an additional 2,133,877 shares during the period. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alkermes

In other Alkermes news, SVP Christian Todd Nichols sold 10,417 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $28.10, for a total value of $292,717.70. Following the transaction, the senior vice president now directly owns 65,911 shares in the company, valued at $1,852,099.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.76% of the stock is currently owned by insiders.

Alkermes announced that its Board of Directors has authorized a stock buyback program on Thursday, February 15th that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the company to repurchase up to 8.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its shares are undervalued.

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.