Alkermes (NASDAQ:ALKS) Issues Quarterly 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) announced its quarterly earnings data on Tuesday. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.10, Briefing.com reports. The company had revenue of $390.66 million for the quarter, compared to analyst estimates of $343.20 million. Alkermes had a return on equity of 24.86% and a net margin of 23.15%. Alkermes's revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.16 EPS. Alkermes updated its FY 2025 guidance to 1.030-1.210 EPS.

Alkermes Trading Up 0.2%

Shares of ALKS stock traded up $0.06 during trading on Friday, hitting $26.55. The company's stock had a trading volume of 1,587,001 shares, compared to its average volume of 2,172,861. Alkermes has a 52 week low of $25.56 and a 52 week high of $36.45. The business has a fifty day moving average of $29.21 and a 200-day moving average of $30.77. The company has a market cap of $4.38 billion, a PE ratio of 12.76, a P/E/G ratio of 1.62 and a beta of 0.44.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on ALKS shares. Robert W. Baird upped their price objective on Alkermes from $38.00 to $41.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Cantor Fitzgerald raised shares of Alkermes to a "strong-buy" rating in a research report on Tuesday, May 13th. Royal Bank Of Canada upped their price objective on Alkermes from $40.00 to $42.00 and gave the company a "sector perform" rating in a research note on Wednesday. The Goldman Sachs Group initiated coverage on Alkermes in a research note on Tuesday, July 15th. They set a "buy" rating and a $43.00 target price on the stock. Finally, Needham & Company LLC restated a "buy" rating and set a $45.00 price objective on shares of Alkermes in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $41.08.

Insider Buying and Selling

In other Alkermes news, SVP Christian Todd Nichols sold 3,334 shares of the stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $31.09, for a total transaction of $103,654.06. Following the sale, the senior vice president owned 86,208 shares in the company, valued at $2,680,206.72. This represents a 3.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 4.40% of the company's stock.

Institutional Investors Weigh In On Alkermes

Several large investors have recently added to or reduced their stakes in the business. Ashton Thomas Private Wealth LLC bought a new stake in Alkermes during the first quarter valued at $213,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of 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 buying an additional 20,091 shares during the last quarter. Finally, Royal Bank of Canada raised its position in shares of 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 acquiring an additional 148,696 shares in 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.