Alkermes (NASDAQ:ALKS) Issues Earnings Results

Key Points

• Alkermes reported earnings of $0.52 EPS for the quarter, exceeding estimates by $0.10 despite a 2.1% year-over-year revenue decline.
• Increased institutional ownership among hedge funds, reaching 95.21% of the company's stock, highlighting growing investor confidence.
• Analysts currently hold a "Moderate Buy" rating on Alkermes with a consensus target price of $40.92, showing positive outlook from multiple firms.

Alkermes (NASDAQ:ALKS - Get Free Report) issued its quarterly earnings data on Tuesday. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.42 by $0.10, Briefing.com reports. The company 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%. Alkermes's revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.16 earnings per share. Alkermes updated its FY 2025 guidance to 1.030-1.210 EPS.

Alkermes Trading Up 3.4%

Shares of ALKS stock traded up $0.93 on Wednesday, reaching $27.93. The company's stock had a trading volume of 5,149,789 shares, compared to its average volume of 1,967,972. The stock's fifty day simple moving average is $29.34 and its 200-day simple moving average is $30.79. Alkermes has a 1 year low of $25.56 and a 1 year high of $36.45. The company has a market capitalization of $4.61 billion, a price-to-earnings ratio of 13.43, a price-to-earnings-growth ratio of 1.65 and a beta of 0.44.

Insider Buying and Selling at Alkermes

In other Alkermes news, SVP Christian Todd Nichols sold 3,334 shares of Alkermes stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $31.09, for a total transaction of $103,654.06. Following the completion of the transaction, the senior vice president directly owned 86,208 shares of the company's stock, valued at $2,680,206.72. The trade was a 3.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 4.40% of the company's stock.

Institutional Trading of Alkermes

Several institutional investors and hedge funds have recently made changes to their positions in ALKS. Ashton Thomas Private Wealth LLC bought a new position in Alkermes in the first quarter worth about $213,000. Royal Bank of Canada increased its holdings in Alkermes by 117.2% in the 1st quarter. Royal Bank of Canada now owns 275,526 shares of the company's stock worth $9,098,000 after buying an additional 148,696 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Alkermes by 4.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 482,332 shares of the company's stock worth $15,927,000 after purchasing an additional 20,091 shares in the last quarter. 95.21% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Wall Street Zen cut shares of Alkermes from a "strong-buy" rating to a "buy" rating in a research note on Monday, May 5th. Robert W. Baird upped their price objective on shares of Alkermes from $38.00 to $41.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Royal Bank Of Canada upped their price objective on shares of Alkermes from $40.00 to $42.00 and gave the company a "sector perform" rating in a research note on Wednesday. Needham & Company LLC reiterated a "buy" rating and set a $45.00 price target on shares of Alkermes in a report on Tuesday. Finally, UBS Group upgraded shares of Alkermes from a "neutral" rating to a "buy" rating and upped their price target for the company from $33.00 to $42.00 in a report on Tuesday, June 17th. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $41.08.

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.