Brokerages Set Alkermes plc (NASDAQ:ALKS) PT at $41.08

Key Points

• Alkermes plc has received a consensus rating of "Moderate Buy" from 12 brokers, with three holding, eight buying, and one strong buy rating.
• The company reported $0.52 earnings per share for the latest quarter, exceeding estimates of $0.42, with quarterly revenue of $390.66 million.
• Alkermes shares have a 12-month price objective averaging $41.08, with the stock currently trading at approximately $29.05.

Alkermes plc (NASDAQ:ALKS - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the twelve ratings firms that are covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $41.0833.

Several analysts have issued reports on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $45.00 target price on shares of Alkermes in a research note on Tuesday, July 29th. Robert W. Baird increased their target price on shares of Alkermes from $38.00 to $41.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Cantor Fitzgerald upgraded shares of Alkermes to a "strong-buy" rating in a research note on Tuesday, May 13th. Royal Bank Of Canada increased their target price on shares of Alkermes from $40.00 to $42.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 30th. Finally, UBS Group upgraded shares of Alkermes from a "neutral" rating to a "buy" rating and increased their target price for the stock from $33.00 to $42.00 in a research note on Tuesday, June 17th.

Insider Buying and Selling at Alkermes

In other news, SVP Christian Todd Nichols sold 3,334 shares of the firm's 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 sale, the senior vice president owned 86,208 shares in the company, valued at approximately $2,680,206.72. This trade represents a 3.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 4.40% of the company's stock.

Institutional Trading of Alkermes

Institutional investors and hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Alkermes by 0.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 100,032 shares of the company's stock valued at $2,877,000 after purchasing an additional 311 shares in the last quarter. Diversified Trust Co boosted its stake in shares of Alkermes by 0.8% during the 2nd quarter. Diversified Trust Co now owns 44,232 shares of the company's stock valued at $1,265,000 after purchasing an additional 372 shares in the last quarter. Quantbot Technologies LP boosted its stake in shares of Alkermes by 54.5% during the 1st quarter. Quantbot Technologies LP now owns 1,091 shares of the company's stock valued at $36,000 after purchasing an additional 385 shares in the last quarter. Tidal Investments LLC boosted its stake in shares of Alkermes by 1.1% during the 2nd quarter. Tidal Investments LLC now owns 35,130 shares of the company's stock valued at $1,005,000 after purchasing an additional 395 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in Alkermes by 0.5% during the second quarter. Louisiana State Employees Retirement System now owns 77,000 shares of the company's stock worth $2,203,000 after acquiring an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 95.21% of the company's stock.

Alkermes Stock Performance

NASDAQ ALKS traded up $0.69 on Monday, hitting $29.75. The stock had a trading volume of 1,386,821 shares, compared to its average volume of 1,728,012. Alkermes has a 52-week low of $25.56 and a 52-week high of $36.45. The company has a market capitalization of $4.91 billion, a price-to-earnings ratio of 14.30, a price-to-earnings-growth ratio of 1.67 and a beta of 0.47. The firm has a 50-day moving average of $28.34 and a 200-day moving average of $30.47.

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