Deutsche Bank Aktiengesellschaft Cuts Alkermes (NASDAQ:ALKS) Price Target to $45.00

Alkermes (NASDAQ:ALKS) had its price objective lowered by Deutsche Bank Aktiengesellschaft from $55.00 to $45.00 in a report released on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research analysts have also recently weighed in on ALKS. HC Wainwright reiterated a “neutral” rating on shares of Alkermes in a research report on Wednesday, October 22nd. Zacks Research upgraded shares of Alkermes from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 22nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Alkermes in a research note on Tuesday, October 14th. Wells Fargo & Company cut their target price on Alkermes from $44.00 to $42.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 29th. Finally, Jefferies Financial Group set a $56.00 price target on Alkermes and gave the stock a “buy” rating in a research note on Tuesday, October 28th. Two investment 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 stock. According to MarketBeat, Alkermes presently has an average rating of “Moderate Buy” and a consensus price target of $44.31.

Alkermes Stock Performance

Shares of ALKS opened at $29.04 on Thursday. The company’s fifty day moving average is $30.02 and its 200 day moving average is $29.54. Alkermes has a fifty-two week low of $25.17 and a fifty-two week high of $36.45. The stock has a market capitalization of $4.80 billion, a PE ratio of 14.38, a P/E/G ratio of 1.70 and a beta of 0.53.

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

Insider Activity at Alkermes

In related news, EVP Craig C. Hopkinson sold 9,000 shares of Alkermes stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $30.38, for a total value of $273,420.00. Following the completion of the sale, the executive vice president directly owned 69,740 shares in the company, valued at $2,118,701.20. The trade was a 11.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Alkermes

Several large investors have recently modified their holdings of ALKS. Assetmark Inc. boosted its stake in shares of Alkermes by 933.8% during the third quarter. Assetmark Inc. now owns 827 shares of the company’s stock valued at $25,000 after purchasing an additional 747 shares in the last quarter. Twin Tree Management LP bought a new stake in Alkermes during the 1st quarter valued at $29,000. Armstrong Advisory Group Inc. purchased a new position in shares of Alkermes in the 2nd quarter valued at $29,000. Johnson Financial Group Inc. bought a new position in shares of Alkermes in the 3rd quarter worth $31,000. Finally, Brooklyn Investment Group lifted its stake in shares of Alkermes by 1,071.1% during the 1st quarter. Brooklyn Investment Group now owns 1,054 shares of the company’s stock worth $35,000 after purchasing an additional 964 shares during the last quarter. Institutional investors own 95.21% of the company’s stock.

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.