Leerink Partnrs Equities Analysts Reduce Earnings Estimates for Alkermes plc (NASDAQ:ALKS)

Alkermes plc (NASDAQ:ALKS) – Analysts at Leerink Partnrs reduced their FY2027 EPS estimates for Alkermes in a research note issued to investors on Tuesday, April 9th. Leerink Partnrs analyst M. Goodman now anticipates that the company will post earnings per share of $1.35 for the year, down from their previous forecast of $1.45. The consensus estimate for Alkermes’ current full-year earnings is $2.23 per share. Leerink Partnrs also issued estimates for Alkermes’ FY2028 earnings at $0.89 EPS.

Other research analysts have also recently issued research reports about the stock. StockNews.com cut shares of Alkermes from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 23rd. Robert W. Baird started coverage on shares of Alkermes in a report on Tuesday, March 19th. They issued an “outperform” rating and a $37.00 price target on the stock. Piper Sandler reiterated an “overweight” rating and issued a $39.00 price target on shares of Alkermes in a report on Monday, April 1st. TheStreet upgraded shares of Alkermes from a “c+” rating to a “b” rating in a report on Thursday, February 15th. Finally, UBS Group downgraded shares of Alkermes from a “neutral” rating to a “sell” rating and set a $25.00 target price on the stock. in a report on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $35.25.

Alkermes Trading Down 2.3 %

Shares of Alkermes stock opened at $24.42 on Thursday. The company’s fifty day simple moving average is $28.13 and its 200-day simple moving average is $27.16. The stock has a market capitalization of $4.13 billion, a PE ratio of 11.80 and a beta of 0.55. Alkermes has a 1-year low of $22.01 and a 1-year high of $33.71. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.86 and a quick ratio of 2.50.

Alkermes (NASDAQ:ALKS) last issued its earnings results on Thursday, February 15th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.29). Alkermes had a return on equity of 16.10% and a net margin of 21.39%. The company had revenue of $377.50 million during the quarter, compared to analysts’ expectations of $362.78 million. During the same quarter in the prior year, the business posted ($0.02) EPS. The company’s revenue for the quarter was up 23.9% compared to the same quarter last year.

Alkermes announced that its Board of Directors has authorized a stock repurchase program on Thursday, February 15th that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the company to buy up to 8.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Alkermes

In other Alkermes news, SVP Christian Todd Nichols sold 10,417 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $28.10, for a total value of $292,717.70. Following the completion of the sale, the senior vice president now directly owns 65,911 shares of the company’s stock, valued at approximately $1,852,099.10. The transaction was disclosed in a filing with the SEC, which is available through this link. 4.76% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alkermes

Hedge funds have recently modified their holdings of the business. Emerald Advisers LLC purchased a new stake in shares of Alkermes in the 3rd quarter worth approximately $27,000. Neo Ivy Capital Management purchased a new stake in shares of Alkermes in the 2nd quarter worth approximately $27,000. CWM LLC lifted its position in shares of Alkermes by 147.5% in the 3rd quarter. CWM LLC now owns 1,037 shares of the company’s stock worth $29,000 after purchasing an additional 618 shares during the period. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Alkermes in the 4th quarter worth approximately $30,000. Finally, GAMMA Investing LLC purchased a new stake in shares of Alkermes in the 4th quarter worth approximately $35,000. 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.