Alkermes plc (NASDAQ:ALKS - Free Report) - Stock analysts at Zacks Research decreased their FY2024 earnings per share (EPS) estimates for Alkermes in a research note issued on Monday, January 6th. Zacks Research analyst R. Department now expects that the company will earn $2.40 per share for the year, down from their prior forecast of $2.41. The consensus estimate for Alkermes' current full-year earnings is $2.25 per share. Zacks Research also issued estimates for Alkermes' Q4 2024 earnings at $0.88 EPS, FY2025 earnings at $1.28 EPS, Q2 2026 earnings at $0.30 EPS and Q3 2026 earnings at $0.40 EPS.
Several other analysts have also weighed in on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Alkermes from $32.00 to $26.00 and set a "neutral" rating for the company in a report on Friday, October 25th. Cantor Fitzgerald dropped their price target on Alkermes from $48.00 to $43.00 and set an "overweight" rating for the company in a report on Friday, October 25th. The Goldman Sachs Group reduced their price objective on Alkermes from $32.00 to $30.00 and set a "buy" rating on the stock in a research note on Friday, October 25th. HC Wainwright restated a "neutral" rating and set a $37.00 target price on shares of Alkermes in a report on Friday, October 25th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $37.00 price target (down from $38.00) on shares of Alkermes in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $36.00.
Get Our Latest Analysis on ALKS
Shares of Alkermes stock opened at $28.42 on Thursday. Alkermes has a 12-month low of $22.90 and a 12-month high of $32.88. The stock has a market capitalization of $4.60 billion, a P/E ratio of 14.57, a price-to-earnings-growth ratio of 1.03 and a beta of 0.49. The company has a 50-day simple moving average of $29.21 and a 200 day simple moving average of $27.63. The company has a quick ratio of 3.03, a current ratio of 3.45 and a debt-to-equity ratio of 0.22.
Several large investors have recently modified their holdings of ALKS. V Square Quantitative Management LLC acquired a new position in shares of Alkermes in the 3rd quarter valued at approximately $29,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Alkermes during the second quarter worth $116,000. GAMMA Investing LLC lifted its position in Alkermes by 83.8% in the 3rd quarter. GAMMA Investing LLC now owns 4,204 shares of the company's stock valued at $118,000 after acquiring an additional 1,917 shares in the last quarter. Archer Investment Corp boosted its stake in Alkermes by 28.6% in the 3rd quarter. Archer Investment Corp now owns 4,500 shares of the company's stock worth $126,000 after purchasing an additional 1,000 shares during the period. Finally, KBC Group NV increased its holdings in Alkermes by 18.8% during the 3rd quarter. KBC Group NV now owns 4,890 shares of the company's stock worth $137,000 after purchasing an additional 774 shares in the last quarter. 95.21% of the stock is currently owned by institutional investors.
In other news, EVP Craig C. Hopkinson sold 61,151 shares of Alkermes stock in a transaction on Monday, December 9th. The shares were sold at an average price of $32.07, for a total transaction of $1,961,112.57. Following the transaction, the executive vice president now directly owns 47,576 shares of the company's stock, valued at $1,525,762.32. This trade represents a 56.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Cato T. Laurencin sold 2,691 shares of the firm's stock in a transaction on Monday, December 9th. The stock was sold at an average price of $31.85, for a total value of $85,708.35. Following the sale, the director now directly owns 23,013 shares in the company, valued at $732,964.05. The trade was a 10.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 147,738 shares of company stock valued at $4,572,904 over the last three months. Company insiders own 4.89% 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.
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