Alkermes plc (NASDAQ:ALKS) Receives $44.15 Consensus Target Price from Brokerages

Shares of Alkermes plc (NASDAQ:ALKS) have been given a consensus recommendation of “Moderate Buy” by the fifteen analysts that are presently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $44.8333.

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Alkermes from $34.00 to $35.00 and gave the stock a “neutral” rating in a report on Tuesday, September 9th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Alkermes in a report on Tuesday, October 14th. Jefferies Financial Group set a $56.00 price target on Alkermes and gave the company a “buy” rating in a report on Tuesday, October 28th. Zacks Research upgraded shares of Alkermes from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 22nd. Finally, Mizuho increased their price target on Alkermes from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, October 27th.

Insider Buying and Selling at Alkermes

In related news, EVP Craig C. Hopkinson sold 9,000 shares of the company’s 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 completion of the transaction, the executive vice president directly owned 69,740 shares of the company’s stock, valued at approximately $2,118,701.20. This represents a 11.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alkermes

Hedge funds have recently bought and sold shares of the company. Intech Investment Management LLC raised its position in shares of Alkermes by 25.6% during the 1st quarter. Intech Investment Management LLC now owns 85,564 shares of the company’s stock valued at $2,825,000 after buying an additional 17,413 shares in the last quarter. Baird Financial Group Inc. purchased a new position in Alkermes during the 1st quarter valued at $587,000. Victory Capital Management Inc. raised its stake in Alkermes by 30.9% in the first quarter. Victory Capital Management Inc. now owns 120,997 shares of the company’s stock worth $3,995,000 after buying an additional 28,596 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Alkermes by 31.9% in the 1st quarter. GAMMA Investing LLC now owns 5,396 shares of the company’s stock valued at $178,000 after purchasing an additional 1,305 shares during the period. Finally, Acadian Asset Management LLC grew its stake in Alkermes by 2,422.0% in the first quarter. Acadian Asset Management LLC now owns 881,827 shares of the company’s stock worth $29,100,000 after purchasing an additional 846,861 shares during the period. 95.21% of the stock is owned by institutional investors.

Alkermes Stock Performance

Alkermes stock opened at $32.89 on Friday. Alkermes has a 52 week low of $25.17 and a 52 week high of $36.45. The firm has a market capitalization of $5.43 billion, a PE ratio of 16.28, a PEG ratio of 1.70 and a beta of 0.53. The business’s 50-day simple moving average is $29.80 and its 200-day simple moving average is $29.39.

Alkermes (NASDAQ:ALKS) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.41 by $0.08. The company had revenue of $394.19 million for the quarter, compared to the consensus estimate of $355.23 million. Alkermes had a return on equity of 21.81% and a net margin of 22.27%.The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.73 EPS. Alkermes has set its FY 2025 guidance at 1.360-1.470 EPS. Research analysts forecast that Alkermes will post 1.31 earnings per share for the current year.

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.