Alkermes plc (NASDAQ:ALKS) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• Alkermes plc has received a consensus rating of "Moderate Buy" from analysts, with eight buy recommendations and two strong buy ratings among thirteen research firms covering the stock.
• The average 12-month price target for Alkermes is $41.85, with recent adjustments from various brokerages, including a price target increase from Royal Bank of Canada to $42.00.
• Alkermes reported $0.52 earnings per share for the last quarter, exceeding expectations and showing a revenue of $390.66 million, despite a 2.1% decline compared to the previous year.

Alkermes plc (NASDAQ:ALKS - Get Free Report) has received an average recommendation of "Moderate Buy" from the thirteen research firms that are covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $41.8462.

A number of research analysts have commented on ALKS shares. 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. UBS Group upgraded shares of Alkermes from a "neutral" rating to a "buy" rating and increased their price target for the company from $33.00 to $42.00 in a research report on Tuesday, June 17th. Royal Bank Of Canada increased their price target on shares of Alkermes from $40.00 to $42.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 30th. Wells Fargo & Company upgraded shares of Alkermes to a "strong-buy" rating in a research report on Wednesday, September 3rd. Finally, JPMorgan Chase & Co. increased their price target on shares of Alkermes from $34.00 to $35.00 and gave the company a "neutral" rating in a research report on Tuesday, September 9th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Ritholtz Wealth Management bought a new position in shares of Alkermes in the first quarter worth approximately $348,000. Baird Financial Group Inc. bought a new position in shares of Alkermes in the first quarter worth approximately $587,000. Victory Capital Management Inc. grew its holdings in shares of Alkermes by 30.9% in the first quarter. Victory Capital Management Inc. now owns 120,997 shares of the company's stock worth $3,995,000 after purchasing an additional 28,596 shares during the last quarter. Intech Investment Management LLC grew its holdings in shares of Alkermes by 25.6% in the first quarter. Intech Investment Management LLC now owns 85,564 shares of the company's stock worth $2,825,000 after purchasing an additional 17,413 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Alkermes by 31.9% in the first quarter. GAMMA Investing LLC now owns 5,396 shares of the company's stock worth $178,000 after purchasing an additional 1,305 shares during the last quarter. Institutional investors own 95.21% of the company's stock.

Alkermes Stock Up 1.8%

Shares of ALKS stock traded up $0.48 during trading on Friday, hitting $27.87. The company had a trading volume of 2,246,073 shares, compared to its average volume of 1,913,548. The stock's 50-day moving average is $28.09 and its two-hundred day moving average is $29.76. The stock has a market capitalization of $4.60 billion, a price-to-earnings ratio of 13.40, a price-to-earnings-growth ratio of 1.54 and a beta of 0.53. Alkermes has a 52 week low of $25.17 and a 52 week high of $36.45.

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, beating analysts' consensus estimates 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 last year, the business earned $1.16 earnings per share. The business's quarterly revenue was down 2.1% on a year-over-year basis. Alkermes has set its FY 2025 guidance at 1.030-1.210 EPS. On average, research analysts predict that Alkermes will post 1.31 EPS for the current fiscal year.

Alkermes Company Profile

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.