Alkermes’ (ALKS) “Hold (C+)” Rating Reiterated at Weiss Ratings

Weiss Ratings reissued their hold (c+) rating on shares of Alkermes (NASDAQ:ALKS) in a research report report published on Tuesday,Weiss Ratings reports.

A number of other analysts have also recently issued reports on ALKS. JPMorgan Chase & Co. increased their price objective on shares of Alkermes from $34.00 to $35.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 9th. UBS Group raised shares of Alkermes from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $33.00 to $42.00 in a research note on Tuesday, June 17th. Wells Fargo & Company raised shares of Alkermes to a “strong-buy” rating in a research note on Wednesday, September 3rd. The Goldman Sachs Group started coverage on shares of Alkermes in a research report on Tuesday, July 15th. They set a “buy” rating and a $43.00 target price for the company. Finally, Needham & Company LLC set a $43.00 target price on shares of Alkermes in a research report on Tuesday, September 9th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $42.00.

Alkermes Price Performance

Shares of NASDAQ ALKS opened at $30.80 on Tuesday. The firm has a fifty day moving average price of $29.06 and a 200-day moving average price of $29.15. The stock has a market cap of $5.08 billion, a PE ratio of 14.81, a price-to-earnings-growth ratio of 1.74 and a beta of 0.54. Alkermes has a 1 year low of $25.17 and a 1 year high of $36.45.

Alkermes (NASDAQ:ALKS) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.10. The firm had revenue of $390.66 million during the quarter, compared to analysts’ expectations of $343.20 million. Alkermes had a net margin of 23.15% and a return on equity of 24.86%. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.16 earnings per share. Alkermes has set its FY 2025 guidance at 1.030-1.210 EPS. On average, research analysts expect that Alkermes will post 1.31 EPS for the current year.

Insider Buying and Selling

In other Alkermes news, EVP Craig C. Hopkinson sold 9,000 shares of the stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $31.53, for a total transaction of $283,770.00. Following the completion of the transaction, the executive vice president owned 73,740 shares in the company, valued at $2,325,022.20. This trade represents a 10.88% 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. 4.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alkermes

Several institutional investors have recently bought and sold shares of the business. State Street Corp lifted its position in Alkermes by 2.3% during the second quarter. State Street Corp now owns 8,208,256 shares of the company’s stock valued at $234,838,000 after purchasing an additional 185,586 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Alkermes by 488.6% during the first quarter. JPMorgan Chase & Co. now owns 5,234,995 shares of the company’s stock valued at $172,860,000 after purchasing an additional 4,345,523 shares during the last quarter. Baker BROS. Advisors LP lifted its position in Alkermes by 7.2% during the first quarter. Baker BROS. Advisors LP now owns 4,483,285 shares of the company’s stock valued at $148,038,000 after purchasing an additional 301,534 shares during the last quarter. Geode Capital Management LLC lifted its position in Alkermes by 2.1% during the second quarter. Geode Capital Management LLC now owns 4,023,552 shares of the company’s stock valued at $115,128,000 after purchasing an additional 83,858 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in Alkermes by 5.5% during the second quarter. American Century Companies Inc. now owns 3,657,223 shares of the company’s stock valued at $104,633,000 after purchasing an additional 191,549 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.