Alkermes (NASDAQ:ALKS) Price Target Raised to $44.00 at Wells Fargo & Company

Key Points

• Wells Fargo raised its price target on Alkermes to $44 (from $43) and kept an "overweight" rating, implying roughly a 23.9% upside; analysts' consensus is a "Moderate Buy" with an average target of $44.79.
• Alkermes shares traded down about 2% to $35.51, with a market cap of $5.90 billion, a trailing P/E of 24.83, and a 52‑week range of $25.17–$36.60.
• Company insiders sold about 39,102 shares (~$1.27M) in the past 90 days, while institutional ownership is very high at 95.21%, driven by large stake increases from Baker Bros., State Street, Renaissance, JPMorgan and Dimensional.

Alkermes (NASDAQ:ALKS - Get Free Report) had its price objective hoisted by investment analysts at Wells Fargo & Company from $43.00 to $44.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Wells Fargo & Company's price objective points to a potential upside of 23.92% from the stock's current price.

A number of other brokerages have also recently issued reports on ALKS. UBS Group reissued a "buy" rating on shares of Alkermes in a report on Wednesday. Truist Financial raised shares of Alkermes to a "strong-buy" rating in a report on Wednesday, March 25th. Needham & Company LLC raised their target price on shares of Alkermes from $45.00 to $50.00 and gave the stock a "buy" rating in a report on Wednesday. HC Wainwright reissued a "neutral" rating and issued a $43.00 target price on shares of Alkermes in a report on Thursday, February 26th. Finally, Royal Bank Of Canada cut their price target on Alkermes from $47.00 to $45.00 and set an "outperform" rating on the stock in a report on Thursday, February 26th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, Alkermes has a consensus rating of "Moderate Buy" and an average target price of $44.79.

Alkermes Trading Down 2.0%

NASDAQ ALKS traded down $0.74 during trading hours on Wednesday, reaching $35.51. The company's stock had a trading volume of 400,006 shares, compared to its average volume of 2,222,182. The business has a 50-day simple moving average of $31.53 and a 200 day simple moving average of $30.98. Alkermes has a 52 week low of $25.17 and a 52 week high of $36.60. The stock has a market cap of $5.90 billion, a PE ratio of 24.83 and a beta of 0.31.

Alkermes (NASDAQ:ALKS - Get Free Report) last issued its earnings results on Saturday, February 14th. The company reported $0.29 earnings per share (EPS) for the quarter. Alkermes had a net margin of 16.37% and a return on equity of 14.91%. The firm had revenue of $384.55 million for the quarter. As a group, equities analysts predict that Alkermes will post -0.69 EPS for the current year.

Insider Activity

In other news, EVP Craig C. Hopkinson sold 9,000 shares of the firm's stock in a transaction on Friday, May 1st. The stock was sold at an average price of $33.40, for a total transaction of $300,600.00. Following the transaction, the executive vice president directly owned 81,389 shares of the company's stock, valued at approximately $2,718,392.60. This trade represents a 9.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Christian Todd Nichols sold 6,000 shares of the firm's stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $30.00, for a total value of $180,000.00. Following the transaction, the senior vice president directly owned 109,769 shares in the company, valued at $3,293,070. This trade represents a 5.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 39,102 shares of company stock valued at $1,265,090. Company insiders own 4.59% of the company's stock.

Institutional Investors Weigh In On Alkermes

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Baker BROS. Advisors LP raised its holdings in Alkermes by 23.7% during the fourth quarter. Baker BROS. Advisors LP now owns 10,012,267 shares of the company's stock worth $280,143,000 after purchasing an additional 1,920,916 shares in the last quarter. State Street Corp raised its holdings in Alkermes by 10.9% during the fourth quarter. State Street Corp now owns 9,472,858 shares of the company's stock worth $265,051,000 after purchasing an additional 932,507 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Alkermes by 6.0% during the fourth quarter. Renaissance Technologies LLC now owns 6,668,028 shares of the company's stock worth $186,571,000 after purchasing an additional 375,500 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Alkermes by 32.0% during the fourth quarter. JPMorgan Chase & Co. now owns 5,184,547 shares of the company's stock worth $145,064,000 after purchasing an additional 1,256,377 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Alkermes by 19.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,412,783 shares of the company's stock worth $123,467,000 after purchasing an additional 714,787 shares in the last quarter. Institutional investors own 95.21% of the company's stock.

Trending Headlines about Alkermes

Here are the key news stories impacting Alkermes this week:

• Positive Sentiment: Q1 results beat estimates: Alkermes reported ($0.43) EPS vs. consensus ($0.57) and revenue of $392.9M vs. $363.3M, driven by product sales growth. Strong top‑line and an EPS beat helped lift sentiment. Q1 Press Release
• Positive Sentiment: Analyst upgrade / price‑target raise: Needham raised its price target to $50 and reiterated a Buy, implying meaningful upside from current levels — a direct positive catalyst for investor demand. Needham / TickerReport
• Positive Sentiment: Earnings‑call tone and product momentum: Management highlighted LUMRYZ momentum and an upbeat call narrative, which supports the revenue beat and longer‑run commercial expectations. Earnings Call Summary
• Neutral Sentiment: Research / thematic note: A Seeking Alpha piece highlights Alkermes’ potential sleep‑medicine platform embedded inside its CNS franchise — interesting strategic upside but speculative and longer horizon. Seeking Alpha
• Neutral Sentiment: Insider transaction: EVP David Gaffin sold 2,034 shares under a pre‑arranged Rule 10b5‑1 plan — disclosed sale but not an unexpected governance red flag given the plan. SEC Form 4
• Negative Sentiment: Guidance disappointed: Fiscal‑2026 EPS guidance of roughly -$0.521 to -$0.405 and revenue guidance toward the lower end of $1.7–1.8B came in below consensus estimates, creating near‑term uncertainty and capping valuation multiple expansion. Guidance / Press Release

Alkermes Company Profile

Alkermes plc is a biopharmaceutical company focused on developing innovative medicines to address unmet needs in the central nervous system (CNS). The company applies its proprietary drug delivery technologies and therapeutic expertise to advance treatments for addiction, schizophrenia, bipolar I disorder and depression. Alkermes' portfolio includes both commercial products and a pipeline of investigational therapies designed to improve patient outcomes and support long-term disease management.

Alkermes' commercial franchise features several approved products.

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