Alkermes (NASDAQ:ALKS) Given New $57.00 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada raised its Alkermes price target to $57 from $56 and maintained an “outperform” rating, implying 26.23% upside from the prior close.
• Analyst sentiment is broadly positive: Alkermes has a “Moderate Buy” consensus rating and an average price target of $55.06.
• Alkermes beat quarterly estimates with EPS of $0.09 versus expectations for a $0.08 loss and revenue of $480.1 million, up 21.8% year over year; however, EPS was down from $0.49 a year earlier.

Alkermes (NASDAQ:ALKS - Get Free Report) had its price target boosted by investment analysts at Royal Bank Of Canada from $56.00 to $57.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective would suggest a potential upside of 26.23% from the company's previous close.

ALKS has been the topic of a number of other research reports. The Goldman Sachs Group assumed coverage on Alkermes in a research note on Thursday, September 24th. They set a "neutral" rating and a $50.00 price target on the stock. JPMorgan Chase & Co. lifted their price target on Alkermes from $60.00 to $61.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 29th. Piper Sandler reissued an "overweight" rating and set a $65.00 price target (up from $43.00) on shares of Alkermes in a report on Tuesday, July 28th. Robert W. Baird set a $61.00 price target on Alkermes in a research note on Wednesday. Finally, TD Cowen reissued a "buy" rating on shares of Alkermes in a research note on Monday, September 21st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $55.06.

Alkermes Stock Performance

Shares of NASDAQ:ALKS traded down $0.54 during midday trading on Wednesday, hitting $45.16. The stock had a trading volume of 345,585 shares, compared to its average volume of 2,120,254. The company has a current ratio of 2.30, a quick ratio of 1.85 and a debt-to-equity ratio of 0.82. Alkermes has a 1 year low of $27.00 and a 1 year high of $55.67. The company has a market capitalization of $7.58 billion, a PE ratio of 119.04 and a beta of 0.32. The stock has a 50 day moving average price of $43.92 and a two-hundred day moving average price of $40.59.

Alkermes (NASDAQ:ALKS - Get Free Report) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.08) by $0.17. Alkermes had a net margin of 3.96% and a return on equity of 4.15%. The business had revenue of $480.13 million during the quarter, compared to the consensus estimate of $463.48 million. During the same quarter last year, the firm posted $0.49 EPS. The business's revenue was up 21.8% compared to the same quarter last year. As a group, equities analysts predict that Alkermes will post -0.57 earnings per share for the current fiscal year.

Insider Activity at Alkermes

In other news, SVP Christian Nichols sold 7,576 shares of the company's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $49.23, for a total value of $372,966.48. Following the sale, the senior vice president owned 102,193 shares of the company's stock, valued at approximately $5,030,961.39. This represents a 6.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP David Gaffin sold 2,035 shares of the firm's stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $46.17, for a total value of $93,955.95. Following the sale, the executive vice president directly owned 219,353 shares of the company's stock, valued at $10,127,528.01. This represents a 0.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 22,679 shares of company stock worth $1,070,940. 4.59% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alkermes

Several large investors have recently made changes to their positions in the company. Pictet Asset Management Holding SA increased its holdings in Alkermes by 20.4% during the 3rd quarter. Pictet Asset Management Holding SA now owns 1,009,318 shares of the company's stock worth $41,012,000 after purchasing an additional 171,292 shares in the last quarter. CenterBook Partners LP increased its holdings in shares of Alkermes by 88.3% during the 3rd quarter. CenterBook Partners LP now owns 13,938 shares of the company's stock worth $565,000 after acquiring an additional 6,535 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Alkermes in the third quarter valued at about $347,000. Profund Advisors LLC lifted its position in Alkermes by 38.5% during the third quarter. Profund Advisors LLC now owns 55,421 shares of the company's stock worth $2,246,000 after acquiring an additional 15,394 shares during the last quarter. Finally, Choreo LLC lifted its position in Alkermes by 3.1% during the third quarter. Choreo LLC now owns 26,611 shares of the company's stock worth $1,078,000 after acquiring an additional 796 shares during the last quarter. Institutional investors and hedge funds own 95.21% of the company's stock.

Alkermes News Roundup

Here are the key news stories impacting Alkermes this week:

• Positive Sentiment: Alkermes reported third-quarter EPS of $0.09, versus analyst expectations for a $0.08 loss, while revenue of $480.1 million topped estimates of $463.5 million and rose 21.8% year over year. The results may bolster confidence in business performance. Article: Alkermes Reports Third Quarter 2026 Financial Results
• Positive Sentiment: HC Wainwright raised its price target from $43 to $50, implying roughly 9.4% upside from the cited $45.69 share price. Its rating remains neutral, tempering the significance of the higher target. HC Wainwright ratings
• Neutral Sentiment: The company reiterated its fourth-quarter proprietary net sales outlook of $400 million to $420 million and expects Phase III data for alixorexton in mid-2027. Maintaining guidance provides visibility, while the clinical update remains a future catalyst. Article: Alkermes reiterates outlook and targets mid-2027 Phase III data
• Neutral Sentiment: EVP David Gaffin sold 2,035 shares, about 0.92% of his holdings, under a pre-arranged Rule 10b5-1 plan. The scheduled nature of the sale makes it less indicative of a change in his outlook. SEC Form 4
• Negative Sentiment: Despite beating expectations, quarterly EPS fell from $0.49 a year earlier to $0.09, a year-over-year decline that could limit enthusiasm about the results. Article: Alkermes Q3 earnings metrics

About Alkermes

Alkermes plc NASDAQ: ALKS is a biopharmaceutical company focused on developing and commercializing medicines for central nervous system diseases. Its research and development activities address conditions including schizophrenia, bipolar disorder, addiction, depression and other neuropsychiatric disorders.

The company's marketed products include Vivitrol, an extended-release injectable form of naltrexone used to treat alcohol dependence and prevent relapse to opioid dependence; Aristada and Aristada Initio, long-acting injectable formulations of aripiprazole lauroxil for the treatment of schizophrenia; and Lybalvi, a combination of olanzapine and samidorphan approved for schizophrenia and bipolar I disorder in adults.

Founded in 1987, Alkermes is incorporated in Ireland and maintains its corporate headquarters in Waltham, Massachusetts.

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