Q3 2024 EPS Estimates for Alkermes plc (NASDAQ:ALKS) Raised by HC Wainwright

Alkermes plc (NASDAQ:ALKS) – Stock analysts at HC Wainwright upped their Q3 2024 earnings per share (EPS) estimates for Alkermes in a research note issued to investors on Thursday, July 25th. HC Wainwright analyst D. Tsao now anticipates that the company will post earnings per share of $0.76 for the quarter, up from their previous estimate of $0.65. HC Wainwright currently has a “Neutral” rating and a $37.00 target price on the stock. The consensus estimate for Alkermes’ current full-year earnings is $2.51 per share. HC Wainwright also issued estimates for Alkermes’ Q1 2025 earnings at $0.49 EPS, Q2 2025 earnings at $0.62 EPS and Q3 2025 earnings at $0.67 EPS.

A number of other research firms have also recently weighed in on ALKS. Jefferies Financial Group raised their price target on Alkermes from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. StockNews.com upgraded Alkermes from a “hold” rating to a “buy” rating in a research note on Sunday. TD Cowen initiated coverage on Alkermes in a report on Monday, June 17th. They set a “buy” rating and a $34.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on Alkermes from $31.00 to $32.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Finally, Robert W. Baird raised their price objective on Alkermes from $37.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $36.70.

Alkermes Stock Down 1.0 %

Alkermes stock opened at $27.63 on Monday. Alkermes has a 1-year low of $22.01 and a 1-year high of $32.88. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.99 and a quick ratio of 2.61. The stock has a market cap of $4.55 billion, a PE ratio of 10.92, a P/E/G ratio of 0.55 and a beta of 0.47. The stock’s fifty day moving average is $24.56 and its two-hundred day moving average is $26.10.

Alkermes (NASDAQ:ALKS) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $0.70 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.70. Alkermes had a return on equity of 23.20% and a net margin of 19.15%. The company had revenue of $399.13 million for the quarter, compared to analysts’ expectations of $393.30 million. During the same period last year, the firm earned $0.38 earnings per share. Alkermes’s quarterly revenue was down 35.4% on a year-over-year basis.

Hedge Funds Weigh In On Alkermes

Hedge funds and other institutional investors have recently made changes to their positions in the stock. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Alkermes during the fourth quarter worth about $30,000. GAMMA Investing LLC purchased a new position in shares of Alkermes during the fourth quarter worth about $35,000. Signaturefd LLC boosted its holdings in Alkermes by 51.2% in the 2nd quarter. Signaturefd LLC now owns 1,417 shares of the company’s stock valued at $34,000 after purchasing an additional 480 shares in the last quarter. Hexagon Capital Partners LLC boosted its holdings in Alkermes by 3,841.0% in the 2nd quarter. Hexagon Capital Partners LLC now owns 1,537 shares of the company’s stock valued at $37,000 after purchasing an additional 1,498 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in Alkermes by 166.4% in the 4th quarter. Daiwa Securities Group Inc. now owns 1,761 shares of the company’s stock valued at $49,000 after purchasing an additional 1,100 shares in the last quarter. Hedge funds and other 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.