Alkermes (NASDAQ:ALKS) Cut to “Hold” at Zacks Research

Zacks Research downgraded shares of Alkermes (NASDAQ:ALKS) from a strong-buy rating to a hold rating in a report released on Thursday morning,Zacks.com reports. Zacks Research also issued estimates for Alkermes’ FY2025 earnings at $1.71 EPS.

A number of other analysts have also commented on the company. Deutsche Bank Aktiengesellschaft decreased their price objective on Alkermes from $55.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. Wells Fargo & Company decreased their price target on shares of Alkermes from $42.00 to $37.00 and set an “overweight” rating on the stock in a research note on Thursday, November 13th. Truist Financial lifted their price target on shares of Alkermes from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, November 17th. Needham & Company LLC upped their price objective on shares of Alkermes from $43.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Finally, JPMorgan Chase & Co. raised their target price on shares of Alkermes from $34.00 to $35.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 9th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $44.69.

Alkermes Trading Up 1.5%

NASDAQ:ALKS opened at $28.61 on Thursday. Alkermes has a 12-month low of $25.17 and a 12-month high of $36.45. The firm has a market cap of $4.72 billion, a PE ratio of 14.16, a price-to-earnings-growth ratio of 1.70 and a beta of 0.53. The stock has a fifty day moving average price of $30.14 and a 200 day moving average price of $29.48.

Alkermes (NASDAQ:ALKS) last announced its 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. The firm had revenue of $394.19 million for the quarter, compared to analysts’ expectations of $355.23 million. Alkermes had a return on equity of 21.81% and a net margin of 22.27%.Alkermes’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.73 EPS. Alkermes has set its FY 2025 guidance at 1.360-1.470 EPS. Equities analysts forecast that Alkermes will post 1.31 EPS for the current year.

Insiders Place Their Bets

In other Alkermes news, EVP Craig C. Hopkinson sold 9,000 shares of Alkermes stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $30.38, for a total value of $273,420.00. Following the transaction, the executive vice president owned 69,740 shares in the company, valued at $2,118,701.20. This trade represents a 11.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALKS. Assetmark Inc. increased its stake in Alkermes by 933.8% during the third quarter. Assetmark Inc. now owns 827 shares of the company’s stock worth $25,000 after acquiring an additional 747 shares during the last quarter. Twin Tree Management LP purchased a new stake in shares of Alkermes during the 1st quarter worth about $29,000. Armstrong Advisory Group Inc. purchased a new stake in shares of Alkermes during the 2nd quarter worth about $29,000. Johnson Financial Group Inc. acquired a new stake in Alkermes during the 3rd quarter worth approximately $31,000. Finally, Brooklyn Investment Group raised its holdings in Alkermes by 1,071.1% in the first quarter. Brooklyn Investment Group now owns 1,054 shares of the company’s stock valued at $35,000 after buying an additional 964 shares during the period. Institutional investors and hedge funds own 95.21% of the company’s stock.

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.