Deutsche Bank Aktiengesellschaft Issues Pessimistic Forecast for Alkermes (NASDAQ:ALKS) Stock Price

Alkermes (NASDAQ:ALKS) had its price objective reduced by stock analysts at Deutsche Bank Aktiengesellschaft from $55.00 to $45.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s target price points to a potential upside of 43.47% from the stock’s current price.

Several other equities analysts have also issued reports on ALKS. HC Wainwright restated a “neutral” rating on shares of Alkermes in a report on Wednesday, October 22nd. Needham & Company LLC increased their price objective on shares of Alkermes from $43.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Wells Fargo & Company lowered their target price on Alkermes from $44.00 to $42.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 29th. Royal Bank Of Canada lifted their price objective on shares of Alkermes from $45.00 to $47.00 and gave the stock an “outperform” rating in a report on Wednesday, October 22nd. Finally, Piper Sandler restated an “overweight” rating and set a $45.00 price target (up from $38.00) on shares of Alkermes in a research report on Thursday, October 23rd. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $44.69.

Alkermes Price Performance

NASDAQ ALKS traded down $0.05 on Thursday, hitting $31.37. 156,483 shares of the stock were exchanged, compared to its average volume of 1,911,093. The company has a market capitalization of $5.18 billion, a PE ratio of 15.54, a P/E/G ratio of 1.70 and a beta of 0.53. The business’s fifty day moving average is $29.99 and its 200 day moving average is $29.51. Alkermes has a 52 week low of $25.17 and a 52 week high of $36.45.

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

Insider Transactions at Alkermes

In other Alkermes news, EVP Craig C. Hopkinson sold 9,000 shares of Alkermes stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $30.38, for a total transaction of $273,420.00. Following the completion of the sale, the executive vice president owned 69,740 shares of the company’s stock, 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 link. Corporate insiders own 4.40% of the company’s stock.

Institutional Trading of Alkermes

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Cerity Partners LLC raised its position in Alkermes by 46.3% in the 1st quarter. Cerity Partners LLC now owns 26,240 shares of the company’s stock valued at $866,000 after purchasing an additional 8,310 shares in the last quarter. Edgestream Partners L.P. increased its stake in Alkermes by 103.8% in the 1st quarter. Edgestream Partners L.P. now owns 110,244 shares of the company’s stock valued at $3,640,000 after buying an additional 56,138 shares during the period. Victory Capital Management Inc. grew its holdings in Alkermes by 30.9% during the first quarter. Victory Capital Management Inc. now owns 120,997 shares of the company’s stock worth $3,995,000 after acquiring an additional 28,596 shares during the period. Y Intercept Hong Kong Ltd boosted its holdings in Alkermes by 76.3% during the first quarter. Y Intercept Hong Kong Ltd now owns 25,339 shares of the company’s stock worth $837,000 after buying an additional 10,966 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH increased its stake in Alkermes by 22.4% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 139,311 shares of the company’s stock valued at $4,600,000 after purchasing an additional 25,493 shares in the last quarter. 95.21% of the stock is owned by institutional investors and hedge funds.

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.