Alkermes (NASDAQ:ALKS) Given New $43.00 Price Target at Piper Sandler

Alkermes (NASDAQ:ALKS) had its target price cut by Piper Sandler from $45.00 to $43.00 in a report released on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research firms have also weighed in on ALKS. Wolfe Research assumed coverage on Alkermes in a research note on Monday, February 23rd. They issued an “outperform” rating and a $45.00 target price for the company. Zacks Research lowered Alkermes from a “hold” rating to a “strong sell” rating in a research report on Friday, March 20th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Alkermes in a research note on Monday, December 29th. Royal Bank Of Canada lowered their price objective on Alkermes from $47.00 to $45.00 and set an “outperform” rating for the company in a research report on Thursday, February 26th. Finally, HC Wainwright reissued a “neutral” rating and set a $43.00 price objective on shares of Alkermes in a research note on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $43.93.

Alkermes Stock Performance

ALKS stock opened at $28.40 on Tuesday. The firm has a market cap of $4.73 billion, a P/E ratio of 19.86, a P/E/G ratio of 6.91 and a beta of 0.53. The firm’s fifty day moving average is $31.41 and its 200 day moving average is $30.13. Alkermes has a 52 week low of $25.17 and a 52 week high of $36.32.

Alkermes (NASDAQ:ALKS) last posted its quarterly 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). Alkermes had a return on equity of 14.91% and a net margin of 16.37%.The business had revenue of $384.55 million during the quarter, compared to the consensus estimate of $380.44 million. During the same period in the prior year, the firm earned $1.05 earnings per share. The business’s revenue for the quarter was down 10.6% on a year-over-year basis. Alkermes has set its FY 2026 guidance at -0.798–0.680 EPS. As a group, analysts forecast that Alkermes will post 1.31 EPS for the current year.

Insider Activity

In related news, EVP Craig C. Hopkinson sold 9,000 shares of the firm’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $29.72, for a total value of $267,480.00. Following the sale, the executive vice president directly owned 89,389 shares of the company’s stock, valued at $2,656,641.08. This trade represents a 9.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Christian Todd Nichols sold 6,000 shares of the business’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $30.00, for a total value of $180,000.00. Following the transaction, the senior vice president owned 109,769 shares in the company, valued at approximately $3,293,070. This represents a 5.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 157,434 shares of company stock valued at $5,305,794. Company insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Alkermes

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Assetmark Inc. boosted its holdings in Alkermes by 933.8% in the third quarter. Assetmark Inc. now owns 827 shares of the company’s stock valued at $25,000 after acquiring an additional 747 shares in the last quarter. Cullen Frost Bankers Inc. bought a new position in Alkermes in the 4th quarter worth $28,000. Johnson Financial Group Inc. bought a new position in Alkermes in the 3rd quarter worth $31,000. UMB Bank n.a. lifted its position in shares of Alkermes by 57.6% in the 4th quarter. UMB Bank n.a. now owns 1,220 shares of the company’s stock worth $34,000 after purchasing an additional 446 shares during the period. Finally, Salomon & Ludwin LLC lifted its position in shares of Alkermes by 115.6% in the 4th quarter. Salomon & Ludwin LLC now owns 1,244 shares of the company’s stock worth $35,000 after purchasing an additional 667 shares during the period. Institutional investors own 95.21% of the company’s stock.

About Alkermes

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.