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

Shares of Alkermes plc (NASDAQ:ALKS) have been assigned a consensus recommendation of “Moderate Buy” from the sixteen research firms that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $44.1538.

ALKS has been the topic of several research analyst reports. Royal Bank Of Canada boosted their target price on shares of Alkermes from $45.00 to $47.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. The Goldman Sachs Group initiated coverage on shares of Alkermes in a research report on Tuesday, July 15th. They set a “buy” rating and a $43.00 target price on the stock. Mizuho boosted their target price on shares of Alkermes from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th. Piper Sandler restated an “overweight” rating and set a $45.00 target price (up from $38.00) on shares of Alkermes in a research report on Thursday, October 23rd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Alkermes in a research note on Tuesday, October 14th.

Insider Activity

In other news, EVP Craig C. Hopkinson sold 9,000 shares of Alkermes 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 completion of the transaction, the executive vice president owned 73,740 shares of the company’s stock, valued at $2,325,022.20. The trade was a 10.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 4.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Diversified Trust Co raised its stake in shares of Alkermes by 0.8% during 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 raised its stake in shares of Alkermes by 54.5% during 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 raised its stake in shares of Alkermes by 1.1% during 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 raised its stake in Alkermes by 0.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 77,000 shares of the company’s stock valued at $2,203,000 after purchasing an additional 400 shares during the last quarter. Finally, Hohimer Wealth Management LLC raised its stake in Alkermes by 3.8% in the 1st quarter. Hohimer Wealth Management LLC now owns 12,362 shares of the company’s stock valued at $408,000 after purchasing an additional 450 shares during the last quarter. Institutional investors and hedge funds own 95.21% of the company’s stock.

Alkermes Stock Performance

Shares of NASDAQ ALKS opened at $30.70 on Friday. The firm has a market capitalization of $5.07 billion, a P/E ratio of 15.20, a PEG ratio of 1.70 and a beta of 0.54. Alkermes has a one year low of $25.17 and a one year high of $36.45. The company’s fifty day moving average is $29.58 and its two-hundred day moving average is $29.25.

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

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.