Alkermes (NASDAQ:ALKS) Stock Rating Upgraded by Truist Financial

Alkermes (NASDAQ:ALKS) was upgraded by analysts at Truist Financial to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other research firms have also weighed in on ALKS. Wall Street Zen lowered shares of Alkermes from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Weiss Ratings reissued a “hold (c+)” rating on shares of Alkermes in a research note on Monday, December 29th. Wells Fargo & Company boosted their target price on Alkermes from $37.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. Zacks Research lowered Alkermes from a “hold” rating to a “strong sell” rating in a research report on Friday, March 20th. Finally, HC Wainwright reaffirmed a “neutral” rating and issued a $43.00 price target on shares of Alkermes in a report on Thursday, February 26th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $43.93.

Alkermes Stock Performance

Shares of ALKS stock opened at $29.37 on Wednesday. The stock’s fifty day moving average is $31.39 and its two-hundred day moving average is $30.13. The firm has a market capitalization of $4.89 billion, a P/E ratio of 20.54, a PEG ratio of 7.08 and a beta of 0.53. Alkermes has a fifty-two week low of $25.17 and a fifty-two week high of $36.32.

Alkermes (NASDAQ:ALKS) last released its earnings results on Wednesday, February 25th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.14). The business had revenue of $384.55 million for the quarter, compared to analysts’ expectations of $380.44 million. Alkermes had a return on equity of 14.91% and a net margin of 16.37%.Alkermes’s quarterly revenue was down 10.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.05 EPS. Alkermes has set its FY 2026 guidance at -0.798–0.680 EPS. On average, equities analysts forecast that Alkermes will post 1.31 earnings per share for the current year.

Insider Activity

In related news, EVP Craig C. Hopkinson sold 9,000 shares of the firm’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $29.72, for a total transaction of $267,480.00. Following the completion of the sale, the executive vice president directly owned 89,389 shares in the company, valued at approximately $2,656,641.08. This trade represents a 9.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David Joseph Gaffin sold 2,034 shares of Alkermes stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $29.29, for a total transaction of $59,575.86. Following the transaction, the executive vice president directly owned 237,660 shares in the company, valued at $6,961,061.40. This trade represents a 0.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 157,434 shares of company stock worth $5,305,794. Company insiders own 4.40% of the company’s stock.

Institutional Trading of Alkermes

Several institutional investors have recently made changes to their positions in the company. Royal Bank of Canada grew its position in Alkermes by 117.2% in the first quarter. Royal Bank of Canada now owns 275,526 shares of the company’s stock worth $9,098,000 after acquiring an additional 148,696 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in Alkermes in the first quarter valued at $213,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Alkermes by 4.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 482,332 shares of the company’s stock valued at $15,927,000 after purchasing an additional 20,091 shares during the last quarter. Cetera Investment Advisers lifted its stake in shares of Alkermes by 32.3% in the 2nd quarter. Cetera Investment Advisers now owns 13,907 shares of the company’s stock valued at $398,000 after purchasing an additional 3,394 shares during the last quarter. Finally, Swiss National Bank grew its holdings in shares of Alkermes by 0.5% during the 2nd quarter. Swiss National Bank now owns 299,300 shares of the company’s stock worth $8,563,000 after purchasing an additional 1,500 shares during the period. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Alkermes Company Profile

Alkermes plc is a biopharmaceutical company focused on developing innovative medicines to address unmet needs in the central nervous system (CNS). The company applies its proprietary drug delivery technologies and therapeutic expertise to advance treatments for addiction, schizophrenia, bipolar I disorder and depression. Alkermes’ portfolio includes both commercial products and a pipeline of investigational therapies designed to improve patient outcomes and support long-term disease management.

Alkermes’ commercial franchise features several approved products.