Weiss Ratings Reaffirms "Hold (C+)" Rating for Alkermes (NASDAQ:ALKS)

Key Points

• Weiss Ratings has reaffirmed a "Hold (C+)" rating for Alkermes (NASDAQ: ALKS), indicating cautious sentiment towards the stock.
• Alkermes recently reported a quarterly EPS of $0.52, surpassing analysts' expectations and setting FY 2025 guidance between $1.030 and $1.210 EPS.
• Institutional investors hold approximately 95.21% of Alkermes' stock, reflecting strong institutional interest in the company.

Alkermes (NASDAQ:ALKS - Get Free Report)'s stock had its "hold (c+)" rating reissued by Weiss Ratings in a report issued on Tuesday,Weiss Ratings reports.

A number of other equities research analysts also recently weighed in on ALKS. HC Wainwright reaffirmed a "neutral" rating and issued a $46.00 target price on shares of Alkermes in a report on Tuesday, September 9th. UBS Group raised shares of Alkermes from a "neutral" rating to a "buy" rating and lifted their price target for the company from $33.00 to $42.00 in a report on Tuesday, June 17th. The Goldman Sachs Group assumed coverage on shares of Alkermes in a research note on Tuesday, July 15th. They issued a "buy" rating and a $43.00 price objective for the company. JPMorgan Chase & Co. increased their price target on Alkermes from $34.00 to $35.00 and gave the company a "neutral" rating in a research note on Tuesday, September 9th. Finally, Royal Bank Of Canada upgraded Alkermes from a "sector perform" rating to an "outperform" rating and boosted their price objective for the stock from $42.00 to $44.00 in a research report on Friday, September 26th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Alkermes has a consensus rating of "Moderate Buy" and a consensus target price of $42.00.

Alkermes Price Performance

ALKS stock traded down $0.40 during midday trading on Tuesday, reaching $31.78. The company had a trading volume of 835,991 shares, compared to its average volume of 1,796,545. Alkermes has a 1-year low of $25.17 and a 1-year high of $36.45. The stock has a 50 day moving average price of $28.76 and a 200-day moving average price of $29.12. The company has a market capitalization of $5.25 billion, a price-to-earnings ratio of 15.31, a price-to-earnings-growth ratio of 1.69 and a beta of 0.54.

Alkermes (NASDAQ:ALKS - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.42 by $0.10. The firm had revenue of $390.66 million for the quarter, compared to analyst estimates of $343.20 million. Alkermes had a net margin of 23.15% and a return on equity of 24.86%. The business's quarterly revenue was down 2.1% compared to the same quarter last year. During the same period last year, the firm earned $1.16 EPS. 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 year.

Hedge Funds Weigh In On Alkermes

Institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC raised its stake in Alkermes by 31.9% during the 1st quarter. GAMMA Investing LLC now owns 5,396 shares of the company's stock worth $178,000 after buying an additional 1,305 shares during the period. SG Americas Securities LLC increased its stake in Alkermes by 25.8% in the 1st quarter. SG Americas Securities LLC now owns 13,988 shares of the company's stock valued at $462,000 after buying an additional 2,872 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of Alkermes by 54.4% during the 1st quarter. Fifth Third Bancorp now owns 1,479 shares of the company's stock worth $49,000 after buying an additional 521 shares in the last quarter. Ritholtz Wealth Management purchased a new position in shares of Alkermes in the 1st quarter worth approximately $348,000. Finally, Advisor Resource Council bought a new position in shares of Alkermes in the first quarter valued at approximately $1,920,000. Institutional investors and hedge funds own 95.21% of the company's stock.

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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