FY2027 EPS Estimates for Alkermes Reduced by Zacks Research

Alkermes plc (NASDAQ:ALKS - Free Report) - Zacks Research lowered their FY2027 earnings estimates for Alkermes in a note issued to investors on Thursday, October 23rd. Zacks Research analyst Team now forecasts that the company will earn $1.57 per share for the year, down from their prior estimate of $1.59. Zacks Research currently has a "Strong-Buy" rating on the stock. The consensus estimate for Alkermes' current full-year earnings is $1.31 per share.

Alkermes (NASDAQ:ALKS - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.52 EPS for the quarter, topping 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 firm 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 business posted $1.16 earnings per share. The business's revenue for the quarter was down 2.1% on a year-over-year basis. Alkermes has set its FY 2025 guidance at 1.030-1.210 EPS.

Other research analysts have also recently issued reports about the stock. Weiss Ratings reiterated a "hold (c+)" rating on shares of Alkermes in a report on Tuesday, October 14th. Needham & Company LLC set a $43.00 price objective on shares of Alkermes in a report on Tuesday, September 9th. The Goldman Sachs Group began coverage on shares of Alkermes in a report on Tuesday, July 15th. They set a "buy" rating and a $43.00 price objective on the stock. Piper Sandler reissued an "overweight" rating and set a $45.00 price objective (up from $38.00) on shares of Alkermes in a report on Thursday. Finally, JPMorgan Chase & Co. boosted their price target on Alkermes from $34.00 to $35.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 9th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, Alkermes presently has an average rating of "Buy" and an average price target of $42.85.

Alkermes Trading Down 3.4%

Shares of ALKS stock opened at $30.04 on Friday. Alkermes has a twelve month low of $25.17 and a twelve month high of $36.45. The stock has a market capitalization of $4.96 billion, a price-to-earnings ratio of 14.44, a P/E/G ratio of 1.68 and a beta of 0.54. The stock has a fifty day simple moving average of $29.39 and a two-hundred day simple moving average of $29.13.

Hedge Funds Weigh In On Alkermes

Several hedge funds have recently modified their holdings of the stock. Moran Wealth Management LLC increased its holdings in shares of Alkermes by 12.7% during the third quarter. Moran Wealth Management LLC now owns 17,850 shares of the company's stock valued at $536,000 after acquiring an additional 2,017 shares in the last quarter. KLP Kapitalforvaltning AS raised its holdings in shares of Alkermes by 8.4% in the third quarter. KLP Kapitalforvaltning AS now owns 80,400 shares of the company's stock worth $2,412,000 after buying an additional 6,200 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in shares of Alkermes by 18.6% in the third quarter. Robeco Institutional Asset Management B.V. now owns 134,387 shares of the company's stock worth $4,032,000 after buying an additional 21,067 shares during the last quarter. Financiere des Professionnels Fonds d investissement inc. raised its holdings in shares of Alkermes by 109.8% in the third quarter. Financiere des Professionnels Fonds d investissement inc. now owns 15,607 shares of the company's stock worth $468,000 after buying an additional 8,169 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Alkermes in the third quarter worth $27,040,000. Institutional investors and hedge funds own 95.21% of the company's stock.

Insider Transactions at Alkermes

In related news, EVP Craig C. Hopkinson sold 9,000 shares of the company's stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $31.53, for a total transaction of $283,770.00. Following the transaction, the executive vice president directly owned 73,740 shares of the company's stock, valued at $2,325,022.20. This represents a 10.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 4.40% of the stock is owned by corporate insiders.

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.

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