Alkermes (NASDAQ:ALKS) Upgraded by Zacks Research to Strong-Buy Rating

Alkermes (NASDAQ:ALKS) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

ALKS has been the subject of several other research reports. Piper Sandler restated an “overweight” rating and set a $45.00 target price (up previously from $38.00) on shares of Alkermes in a report on Thursday, October 23rd. Wall Street Zen cut Alkermes from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 9th. Truist Financial raised their target price on shares of Alkermes from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, November 17th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Alkermes in a research note on Monday, December 29th. Finally, Mizuho increased their price target on shares of Alkermes from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, October 27th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.69.

Alkermes Stock Up 5.0%

Shares of ALKS stock opened at $30.62 on Tuesday. The firm has a fifty day moving average of $29.21 and a 200-day moving average of $29.07. Alkermes has a 12-month low of $25.17 and a 12-month high of $36.45. The company has a market capitalization of $5.06 billion, a price-to-earnings ratio of 15.16 and a beta of 0.48.

Alkermes (NASDAQ:ALKS) last posted 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 business had revenue of $394.19 million for 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%. The firm’s revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.73 EPS. Alkermes has set its FY 2025 guidance at 1.360-1.470 EPS. On average, equities analysts expect that Alkermes will post 1.31 EPS for the current year.

Insider Activity

In related news, EVP Craig C. Hopkinson sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $30.00, for a total value of $150,000.00. Following the completion of the sale, the executive vice president directly owned 61,740 shares in the company, valued at approximately $1,852,200. The trade was a 7.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold 25,748 shares of company stock valued at $765,060 in the last three months. Insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Assetmark Inc. lifted its stake in Alkermes by 933.8% in the 3rd quarter. Assetmark Inc. now owns 827 shares of the company’s stock valued at $25,000 after purchasing an additional 747 shares during the last quarter. Armstrong Advisory Group Inc. bought a new position in shares of Alkermes in the 2nd quarter valued at $29,000. Johnson Financial Group Inc. bought a new position in shares of Alkermes in the 3rd quarter valued at $31,000. Hantz Financial Services Inc. boosted its holdings in shares of Alkermes by 395.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,239 shares of the company’s stock valued at $37,000 after acquiring an additional 989 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in Alkermes during the 2nd quarter worth $49,000. Institutional investors own 95.21% of the company’s stock.

About Alkermes

Alkermes plc is a biopharmaceutical company focused on developing innovative medicines to address unmet needs in the central nervous system (CNS). The company applies its proprietary drug delivery technologies and therapeutic expertise to advance treatments for addiction, schizophrenia, bipolar I disorder and depression. Alkermes’ portfolio includes both commercial products and a pipeline of investigational therapies designed to improve patient outcomes and support long-term disease management.

Alkermes’ commercial franchise features several approved products.