Alkermes' (ALKS) Neutral Rating Reiterated at HC Wainwright

Key Points

• HC Wainwright has reiterated a neutral rating for Alkermes with a price target of $46.00, suggesting a potential upside of 61.69% from the current stock price.
• Despite a slight year-over-year revenue decline of 2.1%, Alkermes reported $0.52 EPS for the last quarter, exceeding estimates of $0.42.
• The stock has received a mixed rating from analysts, including two Strong Buy, eight Buy, and three Hold ratings, with an average target price of $41.31.

Alkermes (NASDAQ:ALKS - Get Free Report)'s stock had its "neutral" rating reissued by analysts at HC Wainwright in a report issued on Tuesday,Benzinga reports. They currently have a $46.00 price target on the stock. HC Wainwright's price target points to a potential upside of 61.69% from the stock's current price.

Several other brokerages also recently weighed in on ALKS. Needham & Company LLC restated a "buy" rating and issued a $45.00 target price on shares of Alkermes in a research note on Tuesday, July 29th. The Goldman Sachs Group began coverage on shares of Alkermes in a research note on Tuesday, July 15th. They issued a "buy" rating and a $43.00 target price for the company. UBS Group upgraded shares of Alkermes from a "neutral" rating to a "buy" rating and upped their target price for the company from $33.00 to $42.00 in a research note on Tuesday, June 17th. Wells Fargo & Company upgraded shares of Alkermes to a "strong-buy" rating in a research note on Wednesday, September 3rd. Finally, Royal Bank Of Canada upped their target price on shares of Alkermes from $40.00 to $42.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $41.31.

Alkermes Stock Performance

Shares of NASDAQ:ALKS opened at $28.45 on Tuesday. The company has a market cap of $4.70 billion, a P/E ratio of 13.68, a PEG ratio of 1.72 and a beta of 0.53. Alkermes has a one year low of $25.17 and a one year high of $36.45. The business's 50-day simple moving average is $28.35 and its 200 day simple moving average is $30.05.

Alkermes (NASDAQ:ALKS - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.42 by $0.10. The business had revenue of $390.66 million for the quarter, compared to the consensus estimate of $343.20 million. Alkermes had a return on equity of 24.86% and a net margin of 23.15%.The company's revenue was down 2.1% on a year-over-year basis. During the same period last year, the business posted $1.16 EPS. Alkermes has set its FY 2025 guidance at 1.030-1.210 EPS. Analysts predict that Alkermes will post 1.31 earnings per share for the current year.

Institutional Trading of Alkermes

Institutional investors have recently added to or reduced their stakes in the stock. Twin Tree Management LP acquired a new stake in Alkermes in the first quarter valued at $29,000. Armstrong Advisory Group Inc. acquired a new stake in Alkermes in the second quarter valued at $29,000. Brooklyn Investment Group raised its holdings in Alkermes by 1,071.1% in the first quarter. Brooklyn Investment Group now owns 1,054 shares of the company's stock valued at $35,000 after acquiring an additional 964 shares in the last quarter. Quantbot Technologies LP raised its holdings in Alkermes by 54.5% in the first quarter. Quantbot Technologies LP now owns 1,091 shares of the company's stock valued at $36,000 after acquiring an additional 385 shares in the last quarter. Finally, USA Financial Formulas acquired a new stake in Alkermes in the first quarter valued at $49,000. 95.21% of the stock is owned by institutional investors and hedge funds.

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.

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