Alkermes plc (NASDAQ:ALKS) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Alkermes plc (NASDAQ:ALKS) have earned a consensus recommendation of “Moderate Buy” from the sixteen analysts that are presently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $44.6923.

A number of research firms have recently issued reports on ALKS. Wall Street Zen cut Alkermes from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 9th. Piper Sandler reissued an “overweight” rating and issued a $45.00 target price (up from $38.00) on shares of Alkermes in a research note on Thursday, October 23rd. Mizuho upped their price objective on shares of Alkermes from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, October 27th. Royal Bank Of Canada raised their target price on Alkermes from $45.00 to $47.00 and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. Finally, Needham & Company LLC upped their price objective on shares of Alkermes from $43.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th.

Insider Buying and Selling at Alkermes

In other 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 transaction, the executive vice president owned 69,740 shares of the company’s stock, valued at $2,118,701.20. The trade was a 11.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ALKS. JPMorgan Chase & Co. lifted its stake in Alkermes by 488.6% during the 1st quarter. JPMorgan Chase & Co. now owns 5,234,995 shares of the company’s stock valued at $172,860,000 after acquiring an additional 4,345,523 shares during the period. Nuveen LLC purchased a new stake in Alkermes in the first quarter worth about $66,689,000. Norges Bank purchased a new stake in Alkermes in the second quarter worth about $53,326,000. Baker BROS. Advisors LP raised its stake in shares of Alkermes by 26.2% in the third quarter. Baker BROS. Advisors LP now owns 8,091,351 shares of the company’s stock worth $242,741,000 after buying an additional 1,680,748 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Alkermes by 1,070.6% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,208,944 shares of the company’s stock valued at $36,268,000 after buying an additional 1,105,666 shares in the last quarter. Institutional investors own 95.21% of the company’s stock.

Alkermes Stock Up 2.8%

Alkermes stock opened at $28.99 on Wednesday. The stock has a market cap of $4.79 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 1.70 and a beta of 0.53. The business has a 50-day simple moving average of $30.21 and a 200 day simple moving average of $29.45. Alkermes has a 52 week low of $25.17 and a 52 week high of $36.45.

Alkermes (NASDAQ:ALKS) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.49 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $355.23 million. During the same quarter last year, the firm posted $0.73 EPS. The company’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, research analysts anticipate that Alkermes will post 1.31 earnings per share for the current year.

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.