Alkermes (NASDAQ:ALKS) Releases Earnings Results

Alkermes (NASDAQ:ALKS) announced its quarterly earnings results on Wednesday. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.11, Zacks reports. Alkermes had a net margin of 22.15% and a return on equity of 24.92%. Alkermes updated its FY 2025 guidance to 1.030-1.210 EPS.

Alkermes Trading Up 3.0 %

NASDAQ:ALKS traded up $0.96 during mid-day trading on Wednesday, reaching $32.92. The company’s stock had a trading volume of 680,089 shares, compared to its average volume of 1,506,600. Alkermes has a twelve month low of $22.90 and a twelve month high of $33.00. The company’s fifty day simple moving average is $30.16 and its two-hundred day simple moving average is $28.65. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.45 and a quick ratio of 3.03. The stock has a market cap of $5.33 billion, a P/E ratio of 16.88, a P/E/G ratio of 1.83 and a beta of 0.49.

Insider Buying and Selling

In related news, EVP Craig C. Hopkinson sold 100,918 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $32.05, for a total transaction of $3,234,421.90. Following the completion of the sale, the executive vice president now owns 44,290 shares of the company’s stock, valued at approximately $1,419,494.50. This represents a 69.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Cato T. Laurencin sold 2,691 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was 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 of the company’s stock, valued at $732,964.05. The trade was a 10.47 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 179,189 shares of company stock valued at $5,723,518. Insiders own 4.89% of the company’s stock.

Analysts Set New Price Targets

ALKS has been the subject of several analyst reports. Piper Sandler reissued an “overweight” rating and issued a $37.00 price target (down previously from $38.00) on shares of Alkermes in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft initiated coverage on Alkermes in a research report on Tuesday. They issued a “buy” rating and a $40.00 price objective for the company. Stifel Nicolaus raised Alkermes from a “hold” rating to a “buy” rating and upped their price target for the company from $25.00 to $36.00 in a research note on Tuesday, November 5th. The Goldman Sachs Group decreased their price objective on shares of Alkermes from $32.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Finally, Mizuho boosted their price objective on Alkermes from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $36.33.

About Alkermes

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.