Alkermes (NASDAQ:ALKS) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Alkermes (NASDAQ:ALKS) from a hold rating to a strong-buy rating in a report released on Saturday.

Several other brokerages have also issued reports on ALKS. Jefferies Financial Group set a $56.00 target price on shares of Alkermes and gave the company a “buy” rating in a research report on Tuesday, October 28th. Needham & Company LLC lifted their target price on shares of Alkermes from $43.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Mizuho lifted their target price on shares of Alkermes from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, October 27th. JPMorgan Chase & Co. lifted their target price 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. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Alkermes in a research report on Tuesday, October 14th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Alkermes has a consensus rating of “Moderate Buy” and a consensus target price of $44.15.

Alkermes Trading Down 1.7%

Shares of NASDAQ:ALKS opened at $30.17 on Friday. The company has a 50 day moving average of $29.61 and a 200 day moving average of $29.30. The stock has a market cap of $4.98 billion, a P/E ratio of 14.94, a P/E/G ratio of 1.70 and a beta of 0.54. Alkermes has a 12 month low of $25.17 and a 12 month high of $36.45.

Alkermes (NASDAQ:ALKS) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.41 by $0.08. The company had revenue of $394.19 million during the quarter, compared to analysts’ expectations of $355.23 million. Alkermes had a net margin of 22.27% and a return on equity of 21.81%. Alkermes’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.73 earnings per share. Alkermes has set its FY 2025 guidance at 1.360-1.470 EPS. On average, equities analysts forecast that Alkermes will post 1.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Alkermes

In other news, EVP Craig C. Hopkinson sold 9,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $30.38, for a total value of $273,420.00. Following the completion of the sale, the executive vice president directly owned 69,740 shares in the company, valued at approximately $2,118,701.20. The trade was a 11.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Alkermes

Hedge funds have recently made changes to their positions in the business. Intech Investment Management LLC raised its holdings in Alkermes by 25.6% during the 1st quarter. Intech Investment Management LLC now owns 85,564 shares of the company’s stock valued at $2,825,000 after buying an additional 17,413 shares during the last quarter. Baird Financial Group Inc. bought a new stake in Alkermes during the 1st quarter valued at $587,000. Victory Capital Management Inc. raised its holdings in Alkermes by 30.9% during the 1st quarter. Victory Capital Management Inc. now owns 120,997 shares of the company’s stock valued at $3,995,000 after buying an additional 28,596 shares during the last quarter. GAMMA Investing LLC raised its holdings in Alkermes by 31.9% during the 1st quarter. GAMMA Investing LLC now owns 5,396 shares of the company’s stock valued at $178,000 after buying an additional 1,305 shares during the last quarter. Finally, Acadian Asset Management LLC raised its holdings in Alkermes by 2,422.0% during the 1st quarter. Acadian Asset Management LLC now owns 881,827 shares of the company’s stock valued at $29,100,000 after buying an additional 846,861 shares during the last quarter. 95.21% of the stock is currently owned by institutional investors.

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.