Analysts Set Alkermes plc (NASDAQ:ALKS) Price Target at $44.69

Alkermes plc (NASDAQ:ALKS) has been given an average rating of “Moderate Buy” by the sixteen analysts that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $44.6923.

A number of research firms recently commented on ALKS. Mizuho boosted their price target on Alkermes from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, October 27th. Piper Sandler reissued an “overweight” rating and issued a $45.00 target price (up previously from $38.00) on shares of Alkermes in a report on Thursday, October 23rd. Zacks Research raised shares of Alkermes from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 13th. Royal Bank Of Canada lifted their price target on shares of Alkermes from $45.00 to $47.00 and gave the company an “outperform” rating in a report on Wednesday, October 22nd. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Alkermes in a report on Monday, December 29th.

Insiders Place Their Bets

In other Alkermes news, EVP Craig C. Hopkinson sold 9,000 shares of Alkermes stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $30.38, for a total value of $273,420.00. Following the sale, the executive vice president owned 69,740 shares of the company’s stock, valued at $2,118,701.20. The trade was a 11.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last three months, insiders sold 25,748 shares of company stock worth $765,060. Company insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Alkermes

A number of hedge funds have recently bought and sold shares of the business. Assetmark Inc. increased its holdings in shares of Alkermes by 933.8% in the 3rd quarter. Assetmark Inc. now owns 827 shares of the company’s stock worth $25,000 after buying an additional 747 shares during the last quarter. Armstrong Advisory Group Inc. bought a new stake in Alkermes during the second quarter worth approximately $29,000. Johnson Financial Group Inc. purchased a new stake in Alkermes during the third quarter valued at approximately $31,000. Hantz Financial Services Inc. boosted its stake in Alkermes by 395.6% during the third quarter. Hantz Financial Services Inc. now owns 1,239 shares of the company’s stock worth $37,000 after buying an additional 989 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Alkermes in the second quarter worth approximately $49,000. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Alkermes Price Performance

Shares of ALKS stock opened at $31.63 on Thursday. Alkermes has a one year low of $25.17 and a one year high of $36.45. The company’s fifty day moving average price is $29.18 and its 200-day moving average price is $29.10. The company has a market capitalization of $5.22 billion, a price-to-earnings ratio of 15.66 and a beta of 0.48.

Alkermes (NASDAQ:ALKS) last announced 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 the consensus estimate of $355.23 million. Alkermes had a return on equity of 21.81% and a net margin of 22.27%.The business’s revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.73 earnings per share. Alkermes has set its FY 2025 guidance at 1.360-1.470 EPS. Equities research analysts expect that Alkermes will post 1.31 earnings per share for the current fiscal year.

Alkermes Company Profile

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.