Alkermes (ALKS) – Analysts’ Recent Ratings Changes

Several brokerages have updated their recommendations and price targets on shares of Alkermes (NASDAQ: ALKS) in the last few weeks:

• 7/28/2024 – Alkermes was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 7/25/2024 – Alkermes had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $48.00 price target on the stock.
• 7/25/2024 – Alkermes had its price target raised by analysts at Robert W. Baird from $37.00 to $38.00. They now have an “outperform” rating on the stock.
• 7/25/2024 – Alkermes had its price target raised by analysts at JPMorgan Chase & Co. from $31.00 to $32.00. They now have a “neutral” rating on the stock.
• 7/25/2024 – Alkermes had its price target raised by analysts at HC Wainwright from $35.00 to $37.00. They now have a “neutral” rating on the stock.
• 7/20/2024 – Alkermes was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 7/15/2024 – Alkermes had its price target lowered by analysts at JPMorgan Chase & Co. from $32.00 to $31.00. They now have a “neutral” rating on the stock.
• 7/12/2024 – Alkermes was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 6/17/2024 – Alkermes is now covered by analysts at TD Cowen. They set a “buy” rating and a $34.00 price target on the stock.
• 6/4/2024 – Alkermes had its “neutral” rating reaffirmed by analysts at HC Wainwright. They now have a $35.00 price target on the stock.

Alkermes Stock Performance

Shares of ALKS stock opened at $27.63 on Wednesday. The firm has a market cap of $4.55 billion, a price-to-earnings ratio of 10.92, a P/E/G ratio of 0.58 and a beta of 0.47. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.61 and a current ratio of 2.99. Alkermes plc has a 52 week low of $22.01 and a 52 week high of $32.88. The firm’s 50-day simple moving average is $24.56 and its two-hundred day simple moving average is $26.10.

Alkermes (NASDAQ:ALKS) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $0.70 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.70. Alkermes had a net margin of 19.15% and a return on equity of 23.20%. The company had revenue of $399.13 million for the quarter, compared to analyst estimates of $393.30 million. During the same quarter in the previous year, the firm posted $0.38 earnings per share. The company’s quarterly revenue was down 35.4% compared to the same quarter last year. As a group, equities analysts forecast that Alkermes plc will post 2.36 earnings per share for the current year.

Institutional Trading of Alkermes

Several hedge funds and other institutional investors have recently modified their holdings of ALKS. Assenagon Asset Management S.A. bought a new stake in shares of Alkermes in the fourth quarter valued at approximately $2,030,000. State of Alaska Department of Revenue bought a new stake in shares of Alkermes in the fourth quarter valued at approximately $2,847,000. China Universal Asset Management Co. Ltd. grew its stake in Alkermes by 352.0% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 19,306 shares of the company’s stock valued at $536,000 after acquiring an additional 15,035 shares in the last quarter. Arizona State Retirement System grew its stake in Alkermes by 3.9% during the fourth quarter. Arizona State Retirement System now owns 44,233 shares of the company’s stock valued at $1,227,000 after acquiring an additional 1,663 shares in the last quarter. Finally, New York State Teachers Retirement System purchased a new position in Alkermes during the fourth quarter valued at approximately $1,370,000. Institutional investors own 95.21% of the company’s stock.

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.