Alkermes plc (NASDAQ:ALKS) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Alkermes plc has received a consensus rating of "Moderate Buy" from fourteen research firms, with an average 12-month target price of $42.00.
• The company reported $0.52 earnings per share for the last quarter, surpassing analysts' expectations of $0.42, with revenue of $390.66 million.
• Recently, several institutional investors increased their stakes in Alkermes, indicating strong investor interest, with 95.21% of the stock now owned by institutional investors.

Alkermes plc (NASDAQ:ALKS - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the fourteen research firms that are presently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $42.00.

A number of analysts have recently issued reports on the company. HC Wainwright reiterated a "neutral" rating and set a $46.00 price target on shares of Alkermes in a research report on Tuesday, September 9th. Needham & Company LLC set a $43.00 target price on shares of Alkermes in a research report on Tuesday, September 9th. Weiss Ratings reissued a "hold (c)" rating on shares of Alkermes in a research note on Saturday, September 27th. Royal Bank Of Canada raised shares of Alkermes from a "sector perform" rating to an "outperform" rating and increased their price target for the stock from $42.00 to $44.00 in a report on Friday, September 26th. Finally, UBS Group raised shares of Alkermes from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $33.00 to $42.00 in a report on Tuesday, June 17th.

Hedge Funds Weigh In On Alkermes

Several institutional investors have recently modified their holdings of ALKS. Intech Investment Management LLC lifted its position in Alkermes by 25.6% in the 1st quarter. Intech Investment Management LLC now owns 85,564 shares of the company's stock worth $2,825,000 after buying an additional 17,413 shares during the last quarter. Baird Financial Group Inc. purchased a new position in shares of Alkermes during the first quarter worth approximately $587,000. Ritholtz Wealth Management bought a new stake in shares of Alkermes in the 1st quarter worth approximately $348,000. Victory Capital Management Inc. boosted its stake in shares of Alkermes by 30.9% in the 1st quarter. Victory Capital Management Inc. now owns 120,997 shares of the company's stock valued at $3,995,000 after purchasing an additional 28,596 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Alkermes by 31.9% during the 1st quarter. GAMMA Investing LLC now owns 5,396 shares of the company's stock valued at $178,000 after purchasing an additional 1,305 shares during the last quarter. 95.21% of the stock is currently owned by institutional investors.

Alkermes Price Performance

Shares of NASDAQ:ALKS opened at $30.99 on Tuesday. The firm has a fifty day moving average price of $28.31 and a two-hundred day moving average price of $29.21. The company has a market cap of $5.12 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 1.75 and a beta of 0.54. Alkermes has a one year low of $25.17 and a one year high of $36.45.

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

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.

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