BofA Securities lifts Alkermes plc [ALKS] price estimate. Who else is bullish?

Alkermes plc [NASDAQ: ALKS] price surged by 3.48 percent to reach at $0.81. The company report on November 2, 2022 that Alkermes plc Reports Third Quarter 2022 Financial Results.


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—  Third Quarter Revenues of $252.4 Million Reflect Strong Year-Over-Year Growth of Proprietary Commercial Product Portfolio —.

—  GAAP Loss per Share of $0.39 and Non-GAAP Earnings per Share of $0.02 —.

A sum of 4173999 shares traded at recent session while its average daily volume was at 1.56M shares. Alkermes plc shares reached a high of $24.98 and dropped to a low of $22.71 until finishing in the latest session at $24.06.

The one-year ALKS stock forecast points to a potential upside of 21.88. The average equity rating for ALKS stock is currently 2.50, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Alkermes plc [ALKS]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ALKS shares is $30.80 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ALKS stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA Securities have made an estimate for Alkermes plc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on October 14, 2022. While these analysts kept the previous recommendation, Piper Sandler raised their target price to Neutral. The new note on the price target was released on August 16, 2022, representing the official price target for Alkermes plc stock. Previously, the target price had yet another raise to $35, while Goldman analysts kept a Buy rating on ALKS stock.

The Average True Range (ATR) for Alkermes plc is set at 0.82, with the Price to Sales ratio for ALKS stock in the period of the last 12 months amounting to 3.28. The Price to Book ratio for the last quarter was 3.64, with the Price to Cash per share for the same quarter was set at 3.63. Price to Free Cash Flow for ALKS in the course of the last twelve months was 37.76 with Quick ratio for the last quarter at 2.00.

ALKS Stock Performance Analysis:

Alkermes plc [ALKS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.18. With this latest performance, ALKS shares gained by 4.56% in over the last four-week period, additionally sinking by -16.89% over the last 6 months – not to mention a drop of -18.99% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ALKS stock in for the last two-week period is set at 59.82, with the RSI for the last a single of trading hit 65.42, and the three-weeks RSI is set at 55.38 for Alkermes plc [ALKS]. The present Moving Average for the last 50 days of trading for this stock 23.17, while it was recorded at 23.22 for the last single week of trading, and 26.18 for the last 200 days.

Insight into Alkermes plc Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Alkermes plc [ALKS] shares currently have an operating margin of -2.50 and a Gross Margin at +78.89. Alkermes plc’s Net Margin is presently recorded at -4.10.

Return on Equity for this stock declined to -4.42, with Return on Assets sitting at -2.42.

Alkermes plc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.00 and a Current Ratio set at 2.40.

ALKS Stock EPS

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ALKS. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Alkermes plc go to 21.20%.

Alkermes plc [ALKS] Insider Position Details

There are presently around $3,766 million, or 99.70% of ALKS stock, in the hands of institutional investors. The top three institutional holders of ALKS stocks are: VANGUARD GROUP INC with ownership of 17,279,133, which is approximately 2.894% of the company’s market cap and around 0.90% of the total institutional ownership; BLACKROCK INC., holding 15,786,860 shares of the stock with an approximate value of $379.83 million in ALKS stocks shares; and SARISSA CAPITAL MANAGEMENT LP, currently with $337.8 million in ALKS stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Alkermes plc stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 146 institutional holders increased their position in Alkermes plc [NASDAQ:ALKS] by around 21,171,333 shares. Additionally, 112 investors decreased positions by around 26,222,486 shares, while 41 investors held positions by with 109,137,160 shares. The mentioned changes placed institutional holdings at 156,530,979 shares, according to the latest SEC report filing. ALKS stock had 53 new institutional investments in for a total of 7,782,482 shares, while 24 institutional investors sold positions of 1,351,958 shares during the same period.

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