FY2027 Earnings Forecast for Alkermes plc (NASDAQ:ALKS) Issued By SVB Leerink

Alkermes plc (NASDAQ:ALKS – Get Rating) – Equities research analysts at SVB Leerink lifted their FY2027 earnings estimates for shares of Alkermes in a report released on Thursday, April 20th. SVB Leerink analyst M. Goodman now anticipates that the company will post earnings per share of $1.91 for the year, up from their prior estimate of $1.86. The consensus estimate for Alkermes’ current full-year earnings is ($0.51) per share.

A number of other equities research analysts have also weighed in on the stock. HC Wainwright reissued a “neutral” rating and set a $32.00 target price on shares of Alkermes in a report on Friday, February 17th. Mizuho boosted their target price on shares of Alkermes from $36.00 to $37.00 and gave the stock a “buy” rating in a report on Tuesday, April 11th. Stifel Nicolaus boosted their target price on shares of Alkermes to $30.00 in a report on Thursday, February 16th. StockNews.com raised shares of Alkermes from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 13th. Finally, Bank of America boosted their target price on shares of Alkermes from $27.00 to $28.00 in a report on Sunday, January 8th. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $31.00.

Alkermes Stock Up 1.3 %

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Shares of NASDAQ ALKS opened at $29.38 on Monday. Alkermes has a 1 year low of $21.75 and a 1 year high of $32.79. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.27 and a quick ratio of 1.91. The firm has a market cap of $4.83 billion, a PE ratio of -30.60 and a beta of 0.62. The company has a 50 day simple moving average of $27.75 and a 200 day simple moving average of $26.03.

Alkermes (NASDAQ:ALKS – Get Rating) last posted its quarterly earnings results on Thursday, February 16th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.09. Alkermes had a negative net margin of 14.23% and a negative return on equity of 3.32%. The company had revenue of $304.70 million for the quarter, compared to the consensus estimate of $289.80 million. During the same period last year, the company posted $0.13 EPS. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ALKS. Cibc World Markets Corp acquired a new position in shares of Alkermes during the 4th quarter valued at $132,619,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Alkermes during the 1st quarter valued at $56,494,000. Millennium Management LLC lifted its position in shares of Alkermes by 164.9% during the 4th quarter. Millennium Management LLC now owns 3,427,885 shares of the company’s stock valued at $89,571,000 after acquiring an additional 2,133,877 shares during the period. Putnam Investments LLC increased its stake in Alkermes by 156.4% during the 4th quarter. Putnam Investments LLC now owns 2,843,972 shares of the company’s stock valued at $74,313,000 after purchasing an additional 1,734,660 shares in the last quarter. Finally, Norges Bank bought a new stake in Alkermes during the 4th quarter valued at $44,358,000. Institutional investors and hedge funds own 96.15% of the company’s stock.

About Alkermes

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Alkermes Plc is a global biopharmaceutical company, which engages in the business of developing, manufacturing, and commercializing medicines designed to address unmet medical needs of patients in major therapeutic areas such as alcohol dependence, opioid dependence, schizophrenia and bipolar I disorder, and a pipeline of product candidates in development for neurological disorders and cancer.