Brokerages Set Alkermes plc (NASDAQ:ALKS) Price Target at $42.00

Alkermes plc (NASDAQ:ALKS) has been assigned a consensus recommendation of “Moderate Buy” from the fourteen analysts that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $42.00.

ALKS has been the subject of several research analyst reports. Wells Fargo & Company upgraded shares of Alkermes to a “strong-buy” rating in a research note on Wednesday, September 3rd. JPMorgan Chase & Co. raised their price target on shares of Alkermes from $34.00 to $35.00 and gave the stock a “neutral” rating in a report on Tuesday, September 9th. HC Wainwright restated a “neutral” rating and issued a $46.00 price target on shares of Alkermes in a report on Tuesday, September 9th. The Goldman Sachs Group started coverage on shares of Alkermes in a research report on Tuesday, July 15th. They set a “buy” rating and a $43.00 price objective on the stock. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Alkermes in a research report on Saturday, September 27th.

Institutional Investors Weigh In On Alkermes

Hedge funds and other institutional investors have recently modified their holdings of the company. Twin Tree Management LP acquired a new stake in Alkermes in the 1st quarter valued at $29,000. Armstrong Advisory Group Inc. bought a new position in shares of Alkermes in the second quarter valued at $29,000. Brooklyn Investment Group lifted its stake in shares of Alkermes by 1,071.1% in the first quarter. Brooklyn Investment Group now owns 1,054 shares of the company’s stock valued at $35,000 after buying an additional 964 shares in the last quarter. Quantbot Technologies LP lifted its stake in shares of Alkermes by 54.5% in the first quarter. Quantbot Technologies LP now owns 1,091 shares of the company’s stock valued at $36,000 after buying an additional 385 shares in the last quarter. Finally, USA Financial Formulas bought a new position in shares of Alkermes in the first quarter valued at $49,000. Institutional investors own 95.21% of the company’s stock.

Alkermes Trading Up 3.1%

Shares of Alkermes stock opened at $32.17 on Tuesday. Alkermes has a 1-year low of $25.17 and a 1-year high of $36.45. The business has a 50-day moving average price of $28.76 and a two-hundred day moving average price of $29.12. The company has a market cap of $5.31 billion, a P/E ratio of 15.47, a PEG ratio of 1.69 and a beta of 0.54.

Alkermes (NASDAQ:ALKS) last announced 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. Alkermes had a return on equity of 24.86% and a net margin of 23.15%.The company had revenue of $390.66 million for the quarter, compared to analyst estimates of $343.20 million. During the same quarter in the prior year, the company earned $1.16 EPS. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. Alkermes has set its FY 2025 guidance at 1.030-1.210 EPS. Equities research analysts forecast that Alkermes will post 1.31 EPS for the current fiscal year.

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.