Zacks Research Issues Negative Outlook for Alkermes Earnings

Alkermes plc (NASDAQ:ALKS) – Equities researchers at Zacks Research reduced their FY2024 EPS estimates for shares of Alkermes in a research report issued on Monday, January 6th. Zacks Research analyst R. Department now expects that the company will post earnings of $2.40 per share for the year, down from their previous 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.

A number of other equities analysts have also weighed in on the stock. Stifel Nicolaus raised shares of Alkermes from a “hold” rating to a “buy” rating and upped their target price for the stock from $25.00 to $36.00 in a research note on Tuesday, November 5th. HC Wainwright reaffirmed a “neutral” rating and issued a $37.00 target price on shares of Alkermes in a research note on Friday, October 25th. Cantor Fitzgerald reduced their target price on shares of Alkermes from $48.00 to $43.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. JPMorgan Chase & Co. reduced their target price on shares of Alkermes from $32.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Finally, Mizuho upped their target price on shares of Alkermes from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Alkermes presently has an average rating of “Moderate Buy” and an average target price of $36.00.

Alkermes Price Performance

Shares of NASDAQ ALKS opened at $28.08 on Thursday. The firm has a market cap of $4.54 billion, a PE ratio of 14.40, a PEG ratio of 1.03 and a beta of 0.49. The company has a current ratio of 3.45, a quick ratio of 3.03 and a debt-to-equity ratio of 0.22. Alkermes has a 1-year low of $22.90 and a 1-year high of $32.88. The company has a fifty day moving average price of $29.29 and a 200 day moving average price of $27.66.

Insider Activity

In other Alkermes news, EVP Craig C. Hopkinson sold 10,471 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $29.53, for a total value of $309,208.63. Following the transaction, the executive vice president now directly owns 99,238 shares of the company’s stock, valued at $2,930,498.14. This represents a 9.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Christian Todd Nichols sold 5,208 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $29.15, for a total transaction of $151,813.20. Following the completion of the transaction, the senior vice president now directly owns 60,703 shares in the company, valued at approximately $1,769,492.45. This represents a 7.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 147,738 shares of company stock valued at $4,572,904. 4.89% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. United Services Automobile Association increased its holdings in shares of Alkermes by 3.1% during the second quarter. United Services Automobile Association now owns 13,208 shares of the company’s stock worth $318,000 after purchasing an additional 400 shares during the period. Handelsbanken Fonder AB raised its stake in shares of Alkermes by 0.3% during the third quarter. Handelsbanken Fonder AB now owns 220,600 shares of the company’s stock valued at $6,175,000 after acquiring an additional 700 shares during the last quarter. Nicollet Investment Management Inc. raised its stake in shares of Alkermes by 1.7% during the third quarter. Nicollet Investment Management Inc. now owns 43,845 shares of the company’s stock valued at $1,227,000 after acquiring an additional 714 shares during the last quarter. KBC Group NV raised its stake in shares of Alkermes by 18.8% during the third quarter. KBC Group NV now owns 4,890 shares of the company’s stock valued at $137,000 after acquiring an additional 774 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Alkermes by 17.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,956 shares of the company’s stock worth $164,000 after buying an additional 904 shares during the last quarter. 95.21% of the stock is owned by institutional investors.

Alkermes Company Profile

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.