FY2024 EPS Estimates for Alkermes Lowered by Leerink Partnrs

Alkermes plc (NASDAQ:ALKS) – Stock analysts at Leerink Partnrs dropped their FY2024 earnings per share estimates for shares of Alkermes in a research note issued on Tuesday, October 15th. Leerink Partnrs analyst M. Goodman now forecasts that the company will earn $2.31 per share for the year, down from their previous estimate of $2.33. The consensus estimate for Alkermes’ current full-year earnings is $2.36 per share. Leerink Partnrs also issued estimates for Alkermes’ FY2025 earnings at $1.97 EPS, FY2026 earnings at $2.11 EPS, FY2027 earnings at $1.70 EPS and FY2028 earnings at $1.45 EPS.

Alkermes (NASDAQ:ALKS) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $0.70 earnings per share (EPS) 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 firm had revenue of $399.13 million for the quarter, compared to the consensus estimate of $393.30 million. During the same period in the prior year, the company posted $0.38 earnings per share. The company’s quarterly revenue was down 35.4% on a year-over-year basis.

A number of other research firms also recently commented on ALKS. HC Wainwright reaffirmed a “neutral” rating and issued a $37.00 target price on shares of Alkermes in a research report on Monday, October 14th. Cantor Fitzgerald reissued an “overweight” rating and issued a $48.00 target price on shares of Alkermes in a report on Thursday, October 10th. StockNews.com raised Alkermes from a “hold” rating to a “buy” rating in a research report on Sunday, July 28th. Robert W. Baird upped their price target on shares of Alkermes from $37.00 to $38.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, JPMorgan Chase & Co. increased their price target on shares of Alkermes from $31.00 to $32.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Alkermes currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.70.

Alkermes Stock Performance

Shares of ALKS stock opened at $28.27 on Friday. The firm has a market capitalization of $4.78 billion, a PE ratio of 11.17, a P/E/G ratio of 0.56 and a beta of 0.46. The company has a 50 day moving average price of $27.76 and a 200-day moving average price of $25.84. Alkermes has a 52 week low of $22.01 and a 52 week high of $32.88. The company has a quick ratio of 2.61, a current ratio of 2.99 and a debt-to-equity ratio of 0.22.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ALKS. Vanguard Group Inc. raised its holdings in Alkermes by 12.3% during the fourth quarter. Vanguard Group Inc. now owns 20,955,454 shares of the company’s stock valued at $581,304,000 after acquiring an additional 2,288,185 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Alkermes by 421.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,326,256 shares of the company’s stock worth $225,393,000 after purchasing an additional 6,730,671 shares in the last quarter. Pacer Advisors Inc. raised its stake in Alkermes by 31.8% during the 2nd quarter. Pacer Advisors Inc. now owns 5,640,642 shares of the company’s stock valued at $135,939,000 after purchasing an additional 1,362,079 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Alkermes by 14.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,884,012 shares of the company’s stock worth $69,507,000 after purchasing an additional 371,039 shares in the last quarter. Finally, Armistice Capital LLC boosted its stake in Alkermes by 301.5% in the 2nd quarter. Armistice Capital LLC now owns 2,699,179 shares of the company’s stock worth $65,050,000 after purchasing an additional 2,026,961 shares during the period. Hedge funds and other institutional investors own 95.21% of the company’s stock.

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.