Alkermes plc [ALKS] Is Currently 16.33 below its 200 Period Moving Avg: What Does This Mean?

Alkermes plc [NASDAQ: ALKS] gained 16.33% or 4.57 points to close at $32.56 with a heavy trading volume of 5469757 shares. The company report on February 15, 2024 at 7:00 AM that Alkermes plc Reports Financial Results for the Fourth Quarter and Year Ended Dec. 31, 2023 and Provides Financial Expectations for 2024.

—  Total Revenues of $1.66 Billion in 2023; Net Sales of Proprietary Products Increased Approximately 18% Year-Over-Year —.

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—  GAAP Net Income of $356 Million and Diluted GAAP Earnings per Share of $2.10 for 2023 —.

The daily chart for ALKS points out that the company has recorded 20.82% gains over the past six months.

If we look at the average trading volume of 2.40M shares, ALKS reached to a volume of 5469757 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about 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 $35.44 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 1.89. 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.

JP Morgan have made an estimate for Alkermes plc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on November 20, 2023.

The Average True Range (ATR) for Alkermes plc is set at 1.05, with the Price to Sales ratio for ALKS stock in the period of the last 12 months amounting to 3.42. The Price to Book ratio for the last quarter was 4.00, with the Price to Cash per share for the same quarter was set at 5.33. Price to Free Cash Flow for ALKS in the course of the last twelve months was 21.38 with Quick ratio for the last quarter at 2.53.

Trading performance analysis for ALKS stock

Alkermes plc [ALKS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 21.63. With this latest performance, ALKS shares gained by 17.59% in over the last four-week period, additionally plugging by 20.82% over the last 6 months – not to mention a rise of 26.58% 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 72.82, with the RSI for the last a single of trading hit 77.76, and the three-weeks RSI is set at 68.96 for Alkermes plc [ALKS]. The present Moving Average for the last 50 days of trading for this stock 27.70, while it was recorded at 28.72 for the last single week of trading, and 28.37 for the last 200 days.

Alkermes plc [ALKS]: A deeper dive into fundamental analysis

Alkermes plc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.53 and a Current Ratio set at 2.91.

Alkermes plc [ALKS]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Alkermes plc posted 0.14/share EPS, while the average EPS was predicted by analysts to be reported at 0.05/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 180.00%. 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 24.80%.

An analysis of Institutional ownership at Alkermes plc [ALKS]

The top three institutional holders of ALKS stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in ALKS stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in ALKS stock with ownership which is approximately 5.8325%.