Alkermes (NASDAQ:ALKS) Sees Large Volume Increase – What’s Next?

Alkermes plc (NASDAQ:ALKS) shares saw unusually-strong trading volume on Wednesday . Approximately 3,017,008 shares traded hands during mid-day trading, an increase of 62% from the previous session’s volume of 1,862,963 shares.The stock last traded at $32.9480 and had previously closed at $30.39.

Analyst Ratings Changes

ALKS has been the topic of several research reports. Needham & Company LLC boosted their price objective on shares of Alkermes from $43.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Piper Sandler restated an “overweight” rating and issued a $45.00 price target (up from $38.00) on shares of Alkermes in a report on Thursday, October 23rd. Wells Fargo & Company lowered their price objective on shares of Alkermes from $44.00 to $42.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. Zacks Research raised shares of Alkermes from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 22nd. Finally, HC Wainwright reiterated a “neutral” rating on shares of Alkermes in a research note on Wednesday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $44.83.

Alkermes Stock Performance

The company has a market cap of $5.43 billion, a P/E ratio of 16.28, a P/E/G ratio of 1.70 and a beta of 0.53. The business’s 50-day moving average price is $29.80 and its 200 day moving average price is $29.39.

Alkermes (NASDAQ:ALKS) last issued its earnings results on Tuesday, October 28th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.08. Alkermes had a net margin of 22.27% and a return on equity of 21.81%. The business had revenue of $394.19 million during the quarter, compared to the consensus estimate of $355.23 million. During the same period last year, the business posted $0.73 EPS. Alkermes’s revenue was up 4.3% on a year-over-year basis. Alkermes has set its FY 2025 guidance at 1.360-1.470 EPS. Equities research analysts forecast that Alkermes plc will post 1.31 earnings per share for the current year.

Insider Activity at Alkermes

In other Alkermes news, EVP Craig C. Hopkinson sold 9,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $30.38, for a total transaction of $273,420.00. Following the completion of the sale, the executive vice president owned 69,740 shares of the company’s stock, valued at $2,118,701.20. This trade represents a 11.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Alkermes

Institutional investors and hedge funds have recently made changes to their positions in the company. Intech Investment Management LLC raised its holdings in Alkermes by 25.6% in the 1st quarter. Intech Investment Management LLC now owns 85,564 shares of the company’s stock valued at $2,825,000 after buying an additional 17,413 shares during the last quarter. Baird Financial Group Inc. bought a new position in shares of Alkermes during the first quarter valued at $587,000. Victory Capital Management Inc. lifted its holdings in shares of Alkermes by 30.9% during the first quarter. Victory Capital Management Inc. now owns 120,997 shares of the company’s stock worth $3,995,000 after purchasing an additional 28,596 shares during the period. Acadian Asset Management LLC increased its holdings in Alkermes by 2,422.0% in the first quarter. Acadian Asset Management LLC now owns 881,827 shares of the company’s stock valued at $29,100,000 after purchasing an additional 846,861 shares during the period. Finally, Atle Fund Management AB raised its position in Alkermes by 5.8% during the 2nd quarter. Atle Fund Management AB now owns 227,224 shares of the company’s stock worth $6,501,000 after purchasing an additional 12,446 shares during the last quarter. Institutional investors and hedge funds 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.