Alkermes (NASDAQ:ALKS) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Key Points

• JPMorgan Chase & Co. raised Alkermes' price target from $34.00 to $35.00, indicating a potential upside of 25.67% from the stock's previous close.
• Alkermes has a consensus rating of Moderate Buy among analysts, with an average price target of $42.00, supported by recent upgrades from multiple firms.
• The company's recent quarterly earnings showed a net margin of 23.15% and a revenue of $390.66 million, which surpassed analysts' expectations.

Alkermes (NASDAQ:ALKS - Free Report) had its price objective raised by JPMorgan Chase & Co. from $34.00 to $35.00 in a report issued on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

ALKS has been the subject of a number of other reports. The Goldman Sachs Group initiated coverage on Alkermes in a research report on Tuesday, July 15th. They issued a "buy" rating and a $43.00 target price for the company. UBS Group upgraded Alkermes from a "neutral" rating to a "buy" rating and lifted their price target for the company from $33.00 to $42.00 in a research report on Tuesday, June 17th. Needham & Company LLC reiterated a "buy" rating and issued a $45.00 price target on shares of Alkermes in a research report on Tuesday, July 29th. Cantor Fitzgerald upgraded Alkermes to a "strong-buy" rating in a research report on Tuesday, May 13th. Finally, Wells Fargo & Company upgraded Alkermes to a "strong-buy" rating in a research report on Wednesday, September 3rd. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $41.85.

Alkermes Price Performance

Shares of ALKS stock traded down $0.74 during trading hours on Tuesday, reaching $26.97. The company had a trading volume of 2,480,906 shares, compared to its average volume of 1,863,509. Alkermes has a 12 month low of $25.17 and a 12 month high of $36.45. The business has a fifty day simple moving average of $28.23 and a 200-day simple moving average of $29.91. The company has a market cap of $4.45 billion, a price-to-earnings ratio of 12.97, a price-to-earnings-growth ratio of 1.56 and a beta of 0.53.

Alkermes (NASDAQ:ALKS - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $0.52 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.10. The business 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 quarterly revenue was down 2.1% compared to the same quarter last year. During the same period last year, the company posted $1.16 earnings per share. Alkermes has set its FY 2025 guidance at 1.030-1.210 EPS. On average, equities research analysts expect that Alkermes will post 1.31 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Osaic Holdings Inc. grew its holdings in shares of Alkermes by 56.4% during the 2nd quarter. Osaic Holdings Inc. now owns 1,945 shares of the company's stock worth $56,000 after acquiring an additional 701 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake in Alkermes by 1.5% during the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 33,120 shares of the company's stock valued at $948,000 after purchasing an additional 502 shares during the last quarter. Squarepoint Ops LLC boosted its stake in Alkermes by 65.5% during the 2nd quarter. Squarepoint Ops LLC now owns 49,267 shares of the company's stock valued at $1,410,000 after purchasing an additional 19,503 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in Alkermes by 1.5% during the 2nd quarter. Thrivent Financial for Lutherans now owns 121,254 shares of the company's stock valued at $3,469,000 after purchasing an additional 1,811 shares during the last quarter. Finally, State of Wyoming lifted its holdings in shares of Alkermes by 68.0% during the 2nd quarter. State of Wyoming now owns 18,677 shares of the company's stock valued at $534,000 after buying an additional 7,563 shares during the period. 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.