FY2024 EPS Estimates for Alkermes Reduced by Zacks Research

Alkermes plc (NASDAQ:ALKS) – Analysts at Zacks Research dropped their FY2024 EPS estimates for shares of Alkermes in a report issued on Monday, January 6th. Zacks Research analyst R. Department now anticipates that the company will post earnings of $2.40 per share for the year, down from their previous estimate 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 research firms have also weighed in on ALKS. HC Wainwright reaffirmed a “neutral” rating and set a $37.00 price target on shares of Alkermes in a research report on Friday, October 25th. JPMorgan Chase & Co. cut their price target 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. Stifel Nicolaus upgraded shares of Alkermes from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $25.00 to $36.00 in a research note on Tuesday, November 5th. Cantor Fitzgerald cut 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. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $37.00 price objective (down from $38.00) on shares of Alkermes in a research 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $36.00.

Alkermes Price Performance

NASDAQ:ALKS opened at $28.42 on Thursday. The stock’s 50-day simple moving average is $29.21 and its 200 day simple moving average is $27.63. Alkermes has a 52-week low of $22.90 and a 52-week high of $32.88. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.03 and a current ratio of 3.45. The company has a market cap of $4.60 billion, a P/E ratio of 14.57, a P/E/G ratio of 1.03 and a beta of 0.49.

Insider Buying and Selling

In other news, EVP Craig C. Hopkinson sold 10,471 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $29.53, for a total transaction of $309,208.63. Following the completion of the transaction, the executive vice president now owns 99,238 shares of the company’s stock, valued at approximately $2,930,498.14. The trade was a 9.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Cato T. Laurencin sold 2,691 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $31.85, for a total value of $85,708.35. Following the completion of the sale, the director now directly owns 23,013 shares in the company, valued at $732,964.05. This trade represents a 10.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 147,738 shares of company stock worth $4,572,904. Company insiders own 4.89% of the company’s stock.

Hedge Funds Weigh In On Alkermes

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC bought a new stake in shares of Alkermes during the third quarter worth $29,000. GAMMA Investing LLC boosted its holdings in shares of Alkermes by 83.8% during 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 grew its position in Alkermes by 28.6% during the 3rd quarter. Archer Investment Corp now owns 4,500 shares of the company’s stock worth $126,000 after acquiring an additional 1,000 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Alkermes in the 2nd quarter worth about $116,000. Finally, KBC Group NV increased its holdings in Alkermes by 18.8% in 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. Institutional investors own 95.21% of the company’s stock.

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.