Piper Sandler Lowers Alkermes (NASDAQ:ALKS) Price Target to $43.00

Alkermes (NASDAQ:ALKS) had its target price dropped by research analysts at Piper Sandler from $45.00 to $43.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s target price points to a potential upside of 55.18% from the stock’s previous close.

Several other research analysts have also recently issued reports on the stock. Zacks Research cut shares of Alkermes from a “hold” rating to a “strong sell” rating in a report on Friday. Wall Street Zen cut shares of Alkermes from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Wolfe Research began coverage on shares of Alkermes in a report on Monday, February 23rd. They set an “outperform” rating and a $45.00 price objective on the stock. Wells Fargo & Company boosted their price objective on shares of Alkermes from $37.00 to $43.00 and gave the stock an “overweight” rating in a research note on Thursday, February 26th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Alkermes in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have issued a Hold rating and one has given a Sell 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 $43.93.

Alkermes Stock Down 1.6%

ALKS opened at $27.71 on Tuesday. The stock’s fifty day moving average is $31.43 and its two-hundred day moving average is $30.14. The company has a market capitalization of $4.62 billion, a P/E ratio of 19.38, a PEG ratio of 7.02 and a beta of 0.53. Alkermes has a 52 week low of $25.17 and a 52 week high of $36.32.

Alkermes (NASDAQ:ALKS) last posted its quarterly 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 firm had revenue of $384.55 million for the quarter, compared to the consensus estimate 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 posted $1.05 EPS. Alkermes has set its FY 2026 guidance at -0.798–0.680 EPS. Equities analysts anticipate that Alkermes will post 1.31 earnings per share for the current year.

Insider Activity

In related news, SVP Christian Todd Nichols sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $30.00, for a total transaction of $180,000.00. Following the completion of the transaction, the senior vice president owned 109,769 shares in the company, valued at $3,293,070. The trade was a 5.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Craig C. Hopkinson sold 9,000 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $33.93, for a total transaction of $305,370.00. Following the sale, the executive vice president directly owned 57,740 shares of the company’s stock, valued at $1,959,118.20. The trade was a 13.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 157,434 shares of company stock worth $5,305,794 in the last quarter. 4.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALKS. Hsbc Holdings PLC increased its position in Alkermes by 20.4% during the 4th quarter. Hsbc Holdings PLC now owns 42,817 shares of the company’s stock valued at $1,202,000 after buying an additional 7,269 shares in the last quarter. T. Rowe Price Investment Management Inc. purchased a new position in Alkermes in the 4th quarter worth $59,000. Mercer Global Advisors Inc. ADV purchased a new position in Alkermes in the 4th quarter worth $256,000. Summit Global Investments lifted its position in Alkermes by 48.8% during the 4th quarter. Summit Global Investments now owns 29,662 shares of the company’s stock worth $830,000 after acquiring an additional 9,724 shares during the period. Finally, Vident Advisory LLC grew its stake in Alkermes by 1.1% during the 4th quarter. Vident Advisory LLC now owns 82,294 shares of the company’s stock valued at $2,303,000 after purchasing an additional 864 shares during the last quarter. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

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.