Alkermes’ (ALKS) “Neutral” Rating Reaffirmed at HC Wainwright

HC Wainwright reissued their neutral rating on shares of Alkermes (NASDAQ:ALKS) in a research note published on Tuesday morning, Marketbeat Ratings reports. They currently have a $46.00 target price on the stock.

Several other equities research analysts also recently commented on ALKS. The Goldman Sachs Group began coverage on shares of Alkermes in a research report on Tuesday, July 15th. They set a “buy” rating and a $43.00 target price for the company. Cantor Fitzgerald raised Alkermes to a “strong-buy” rating in a report on Tuesday, May 13th. Needham & Company LLC restated a “buy” rating and issued a $45.00 target price on shares of Alkermes in a report on Tuesday, July 29th. UBS Group raised Alkermes from a “neutral” rating to a “buy” rating and lifted their target price for the company from $33.00 to $42.00 in a research report on Tuesday, June 17th. Finally, Royal Bank Of Canada increased their price target on Alkermes from $40.00 to $42.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $42.00.

Alkermes Stock Down 2.1%

Shares of ALKS opened at $27.85 on Tuesday. The business’s fifty day moving average is $28.32 and its 200 day moving average is $30.04. Alkermes has a 12-month low of $25.17 and a 12-month high of $36.45. The stock has a market cap of $4.60 billion, a P/E ratio of 13.39, a P/E/G ratio of 1.64 and a beta of 0.53.

Alkermes (NASDAQ:ALKS) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $0.52 EPS for the quarter, beating 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 business 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 posted $1.16 EPS. Alkermes’s quarterly revenue was down 2.1% on a year-over-year basis. Alkermes has set its FY 2025 guidance at 1.030-1.210 EPS. On average, analysts expect that Alkermes will post 1.31 EPS for the current year.

Institutional Trading of Alkermes

A number of hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Alkermes by 0.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 100,032 shares of the company’s stock valued at $2,877,000 after acquiring an additional 311 shares during the last quarter. Diversified Trust Co lifted its holdings in Alkermes by 0.8% in the 2nd quarter. Diversified Trust Co now owns 44,232 shares of the company’s stock worth $1,265,000 after buying an additional 372 shares during the period. Quantbot Technologies LP grew its position in shares of Alkermes by 54.5% in the 1st quarter. Quantbot Technologies LP now owns 1,091 shares of the company’s stock worth $36,000 after buying an additional 385 shares during the last quarter. Tidal Investments LLC increased its stake in shares of Alkermes by 1.1% during the second quarter. Tidal Investments LLC now owns 35,130 shares of the company’s stock valued at $1,005,000 after buying an additional 395 shares during the period. Finally, Louisiana State Employees Retirement System raised its holdings in shares of Alkermes by 0.5% during the second quarter. Louisiana State Employees Retirement System now owns 77,000 shares of the company’s stock valued at $2,203,000 after acquiring an additional 400 shares in the last quarter. 95.21% of the stock is currently 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.