Alkermes (NASDAQ:ALKS) Reaches New 1-Year Low - Here's Why

Key Points

• Alkermes' stock price hit a new 52-week low of $25.17, closing last at $26.98, which indicates a decline from its previous close of $29.94.
• Equities analysts have a generally positive outlook on Alkermes, with two analysts rating it as a "Strong Buy" and an average target price of $41.31.
• Alkermes reported earnings of $0.52 EPS for the last quarter, exceeding expectations, although its revenue was down 2.1% year-over-year.

Alkermes plc (NASDAQ:ALKS - Get Free Report) hit a new 52-week low on Monday . The company traded as low as $25.17 and last traded at $26.98, with a volume of 172546 shares traded. The stock had previously closed at $29.94.

Analysts Set New Price Targets

Several research firms have recently commented on ALKS. The Goldman Sachs Group began coverage on Alkermes in a research report on Tuesday, July 15th. They issued a "buy" rating and a $43.00 target price on the stock. UBS Group raised 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 report on Tuesday, June 17th. Needham & Company LLC set a $43.00 target price on Alkermes in a research report on Tuesday. JPMorgan Chase & Co. upped their target price on Alkermes from $34.00 to $35.00 and gave the company a "neutral" rating in a research report on Tuesday. Finally, Royal Bank Of Canada upped their target price on Alkermes from $40.00 to $42.00 and gave the company a "sector perform" rating in a research report 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $41.85.

Alkermes Stock Down 2.7%

The firm has a market capitalization of $4.45 billion, a P/E ratio of 12.97, a PEG ratio of 1.56 and a beta of 0.53. The firm has a 50 day moving average of $28.23 and a 200-day moving average of $29.91.

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

Institutional Investors Weigh In On Alkermes

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALKS. Captrust Financial Advisors lifted its stake in Alkermes by 9.7% during the fourth quarter. Captrust Financial Advisors now owns 18,362 shares of the company's stock worth $528,000 after purchasing an additional 1,619 shares during the last quarter. Cetera Investment Advisers lifted its stake in Alkermes by 10.4% during the fourth quarter. Cetera Investment Advisers now owns 10,645 shares of the company's stock worth $306,000 after purchasing an additional 999 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Alkermes by 0.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 100,032 shares of the company's stock worth $2,877,000 after purchasing an additional 311 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in Alkermes by 109.5% during the fourth quarter. Nuveen Asset Management LLC now owns 1,659,821 shares of the company's stock worth $47,736,000 after purchasing an additional 867,492 shares during the last quarter. Finally, Quantinno Capital Management LP bought a new stake in Alkermes during the fourth quarter worth $247,000. 95.21% of the stock is currently owned by institutional investors.

Alkermes Company Profile

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.