Alkermes (NASDAQ:ALKS) Stock Rating Upgraded by Truist Financial

Alkermes (NASDAQ:ALKS) was upgraded by equities research analysts at Truist Financial to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

Several other analysts have also recently issued reports on the company. Bank of America upped their target price on Alkermes from $33.00 to $34.00 and gave the company a “neutral” rating in a report on Friday, February 20th. Wall Street Zen cut shares of Alkermes from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Royal Bank Of Canada dropped their price objective on shares of Alkermes from $47.00 to $45.00 and set an “outperform” rating for the company in a report on Thursday, February 26th. Wells Fargo & Company raised their price objective on shares of Alkermes from $37.00 to $43.00 and gave the stock an “overweight” rating in a research report on Thursday, February 26th. Finally, Piper Sandler decreased their target price on shares of Alkermes from $45.00 to $43.00 and set an “overweight” rating on the stock in a report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Alkermes presently has an average rating of “Moderate Buy” and an average target price of $43.93.

Alkermes Trading Up 1.9%

ALKS stock opened at $29.92 on Wednesday. The company has a market cap of $4.99 billion, a price-to-earnings ratio of 20.92, a PEG ratio of 7.32 and a beta of 0.53. Alkermes has a 12 month low of $25.17 and a 12 month high of $36.32. The firm has a 50-day moving average of $31.36 and a two-hundred day moving average of $30.13.

Alkermes (NASDAQ:ALKS) last issued its earnings results on Wednesday, February 25th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.14). The company had revenue of $384.55 million for the quarter, compared to analyst estimates of $380.44 million. Alkermes had a return on equity of 14.91% and a net margin of 16.37%.The company’s revenue for the quarter was down 10.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.05 earnings per share. Alkermes has set its FY 2026 guidance at -0.798–0.680 EPS. As a group, equities analysts forecast that Alkermes will post 1.31 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP David Joseph Gaffin sold 2,034 shares of the company’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $29.29, for a total value of $59,575.86. Following the transaction, the executive vice president owned 237,660 shares of the company’s stock, valued at $6,961,061.40. This represents a 0.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Shane Cooke sold 61,200 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $34.57, for a total value of $2,115,684.00. Following the transaction, the director owned 103,744 shares of the company’s stock, valued at approximately $3,586,430.08. This represents a 37.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 157,434 shares of company stock worth $5,305,794. Company insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Alkermes

A number of institutional investors have recently made changes to their positions in ALKS. Assetmark Inc. lifted its holdings in shares of Alkermes by 933.8% in the 3rd 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. Cullen Frost Bankers Inc. acquired a new stake in Alkermes in the 4th quarter valued at approximately $28,000. Johnson Financial Group Inc. purchased a new stake in Alkermes in the third quarter valued at approximately $31,000. UMB Bank n.a. raised its position in Alkermes by 57.6% in the fourth quarter. UMB Bank n.a. now owns 1,220 shares of the company’s stock valued at $34,000 after purchasing an additional 446 shares during the period. Finally, Salomon & Ludwin LLC lifted its stake in Alkermes by 115.6% during the fourth quarter. Salomon & Ludwin LLC now owns 1,244 shares of the company’s stock worth $35,000 after purchasing an additional 667 shares in the last quarter. 95.21% of the stock is currently owned by institutional investors and hedge funds.

Alkermes Company Profile

Alkermes plc is a biopharmaceutical company focused on developing innovative medicines to address unmet needs in the central nervous system (CNS). The company applies its proprietary drug delivery technologies and therapeutic expertise to advance treatments for addiction, schizophrenia, bipolar I disorder and depression. Alkermes’ portfolio includes both commercial products and a pipeline of investigational therapies designed to improve patient outcomes and support long-term disease management.

Alkermes’ commercial franchise features several approved products.