Alkermes (NASDAQ:ALKS) Rating Increased to Strong-Buy at Wall Street Zen

Alkermes (NASDAQ:ALKS) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “strong-buy” rating in a research report issued on Saturday.

Several other research analysts have also issued reports on ALKS. The Goldman Sachs Group started coverage on Alkermes in a research report on Tuesday, July 15th. They issued a “buy” rating and a $43.00 target price for the company. Wells Fargo & Company decreased their target price on Alkermes from $44.00 to $42.00 and set an “overweight” rating for the company in a research report on Wednesday. Weiss Ratings reissued a “hold (c+)” rating on shares of Alkermes in a research report on Tuesday, October 14th. HC Wainwright reissued a “neutral” rating on shares of Alkermes in a research report on Wednesday, October 22nd. Finally, Piper Sandler restated an “overweight” rating and issued a $45.00 price target (up previously from $38.00) on shares of Alkermes in a research note on Thursday, October 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $44.15.

Alkermes Stock Performance

Shares of NASDAQ:ALKS opened at $30.70 on Friday. Alkermes has a 52-week low of $25.17 and a 52-week high of $36.45. The firm has a market capitalization of $5.07 billion, a P/E ratio of 15.20, a P/E/G ratio of 1.70 and a beta of 0.54. The stock has a 50 day moving average price of $29.58 and a 200-day moving average price of $29.25.

Alkermes (NASDAQ:ALKS) last announced its earnings results on Tuesday, October 28th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.08. Alkermes had a return on equity of 21.81% and a net margin of 22.27%.The firm had revenue of $394.19 million during the quarter, compared to analyst estimates of $355.23 million. During the same quarter in the prior year, the company earned $0.73 EPS. The business’s revenue was up 4.3% compared to the same quarter last year. Alkermes has set its FY 2025 guidance at 1.360-1.470 EPS. On average, equities analysts forecast that Alkermes will post 1.31 EPS for the current fiscal year.

Insider Buying and Selling

In other Alkermes news, EVP Craig C. Hopkinson sold 9,000 shares of the stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $31.53, for a total transaction of $283,770.00. Following the sale, the executive vice president directly owned 73,740 shares in the company, valued at approximately $2,325,022.20. This trade represents a 10.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.40% of the company’s stock.

Institutional Trading of Alkermes

Several institutional investors have recently added to or reduced their stakes in the business. Diversified Trust Co boosted its stake in shares of 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 last quarter. Quantbot Technologies LP boosted its stake 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 boosted its stake in shares of Alkermes by 1.1% in the 2nd quarter. Tidal Investments LLC now owns 35,130 shares of the company’s stock worth $1,005,000 after buying an additional 395 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Alkermes by 0.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 77,000 shares of the company’s stock worth $2,203,000 after buying an additional 400 shares during the last quarter. Finally, Hohimer Wealth Management LLC boosted its stake in shares of Alkermes by 3.8% in the 1st quarter. Hohimer Wealth Management LLC now owns 12,362 shares of the company’s stock worth $408,000 after buying an additional 450 shares during the last quarter. 95.21% of the stock is currently owned by hedge funds and other 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.