JPMorgan Chase & Co. Raises Alkermes (NASDAQ:ALKS) Price Target to $61.00

Alkermes (NASDAQ:ALKS) had its price objective upped by equities research analysts at JPMorgan Chase & Co. from $60.00 to $61.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 26.62% from the stock’s current price.

Several other equities analysts also recently issued reports on the stock. HC Wainwright reissued a “neutral” rating on shares of Alkermes in a report on Thursday, June 18th. Bank of America reaffirmed an “underperform” rating on shares of Alkermes in a report on Monday, June 29th. Weiss Ratings downgraded shares of Alkermes from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. UBS Group boosted their target price on shares of Alkermes from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, Piper Sandler restated an “overweight” rating and issued a $65.00 target price (up from $43.00) on shares of Alkermes in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Alkermes presently has a consensus rating of “Moderate Buy” and an average price target of $54.56.

Alkermes Stock Performance

ALKS traded down $2.33 during trading on Wednesday, reaching $48.17. 1,977,407 shares of the company were exchanged, compared to its average volume of 2,245,334. The stock has a market cap of $8.03 billion, a P/E ratio of 53.81 and a beta of 0.34. The firm has a 50 day moving average of $47.51 and a 200 day moving average of $37.82. The company has a current ratio of 2.27, a quick ratio of 1.70 and a debt-to-equity ratio of 0.85. Alkermes has a 52 week low of $25.17 and a 52 week high of $55.67.

Insiders Place Their Bets

In other news, EVP David Joseph Gaffin sold 2,034 shares of the company’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $54.03, for a total value of $109,897.02. Following the completion of the sale, the executive vice president owned 227,490 shares in the company, valued at $12,291,284.70. This represents a 0.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Craig C. Hopkinson sold 9,000 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $51.51, for a total value of $463,590.00. Following the transaction, the executive vice president directly owned 73,389 shares of the company’s stock, valued at $3,780,267.39. This represents a 10.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 35,102 shares of company stock worth $1,494,410 over the last ninety days. Company insiders own 4.59% of the company’s stock.

Institutional Investors Weigh In On Alkermes

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Hennion & Walsh Asset Management Inc. bought a new position in shares of Alkermes during the 2nd quarter valued at about $2,479,000. GAMMA Investing LLC raised its holdings in shares of Alkermes by 24.5% in the 2nd quarter. GAMMA Investing LLC now owns 6,705 shares of the company’s stock worth $351,000 after purchasing an additional 1,320 shares in the last quarter. Harbor Investment Advisory LLC bought a new stake in shares of Alkermes in the 2nd quarter worth approximately $82,000. Versant Capital Management Inc lifted its stake in Alkermes by 33.9% during the second quarter. Versant Capital Management Inc now owns 1,445 shares of the company’s stock valued at $76,000 after purchasing an additional 366 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in Alkermes by 2.0% during the first quarter. Pacer Advisors Inc. now owns 688,563 shares of the company’s stock worth $24,348,000 after buying an additional 13,689 shares in the last quarter. 95.21% of the stock is currently owned by institutional investors.

Alkermes News Summary

Here are the key news stories impacting Alkermes this week:

• Positive Sentiment: Q2 results exceeded expectations. Alkermes reported revenue of approximately $496 million, up 27.2% year over year and above the roughly $457 million consensus estimate. Adjusted EPS of $0.70 also substantially exceeded expectations for a loss or break-even result. Alkermes Q2 earnings report
• Positive Sentiment: Core products continued to grow. Proprietary net sales reached $411.7 million, led by VIVITROL at $124.5 million, ARISTADA at $96.7 million, LYBALVI at $94.0 million and LUMRYZ at $96.6 million. Adjusted EBITDA increased to $139.2 million from $126.5 million a year earlier. Alkermes Q2 revenue and product sales
• Positive Sentiment: Analyst sentiment improved. Robert W. Baird raised its price target from $48 to $58 and maintained an “outperform” rating, citing potential upside from the company’s commercial momentum and pipeline. Baird raises Alkermes price target
• Positive Sentiment: Pipeline catalysts are approaching. Alkermes expects initial ADHD data for ALKS 7290 in the coming months and topline results from the alixorexton Phase 2 study in idiopathic hypersomnia near year-end. Alkermes Q3 outlook and pipeline catalysts
• Neutral Sentiment: Alkermes maintained its 2026 revenue outlook of $1.73 billion to $1.84 billion, supporting confidence in full-year sales, although it revised its expected GAAP net loss to $95 million-$115 million. Blair Jackson is scheduled to become CEO on August 1, with Richard Pops remaining chairman. Alkermes CEO transition and guidance
• Negative Sentiment: Near-term guidance was below Wall Street expectations. Alkermes forecast third-quarter revenue of $450 million-$470 million, below the approximately $472.4 million consensus estimate. The company also reported GAAP net income of only $0.5 million, versus $87.1 million a year earlier, highlighting pressure on reported profitability. Alkermes Q2 earnings and outlook

About Alkermes

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.