B of A Securities Downgrades Alkermes to Sell

B of A Securities has downgraded its rating on Alkermes plc (NasdaqGS: ALKS) to a sell, setting a new price target of $38. This change was made by analyst Jason Gerberry on June 29, 2026. Shares of Alkermes were trading around $55.08 on Monday.

What Changed in B of A Securities' Alkermes Position

B of A Securities' analyst Jason Gerberry lowered the rating for Alkermes to a sell with a $38 target. This reflects a more cautious outlook on the company's future performance.

Other Institutional Activity in Alkermes

BlackRock, Inc. slightly increased its holdings in Alkermes by 41,998 shares, resulting in a total of 28,314,410 shares valued at around $1.00 billion. Vanguard Portfolio Management LLC opened a new position with 9,511,112 shares worth approximately $336.3 million. Meanwhile, Renaissance Technologies LLC reduced its stake by 507,600 shares, leaving it with 6,160,428 shares valued at $217.8 million.

Alkermes plc Stock Up 10.5%

On Monday, shares of Alkermes traded near $55.08. The company has a market capitalization of about $9.18 billion and a P/E ratio of 61.2. Its forward P/E stands at 35.39, and it has a beta of 0.334, indicating lower volatility compared to the market. The stock's 52-week range has been between $25.17 and $55.28, with a 50-day moving average of $39.51 and a 200-day moving average of $32.71. Alkermes maintains a current ratio of 2.27 and a quick ratio of 1.53.

Recent Earnings

Alkermes reported revenues of approximately $1.56 billion, with a revenue growth rate of 28.2%. The company's net margin was 9.8%, and its return on equity stood at 9.4%. Alkermes is expected to release its next earnings report on July 28, 2026.

Insider Buying and Selling at Alkermes plc

Several insiders at Alkermes have been active recently. EVP Craig Hopkinson sold 9,000 shares on June 1, 2026, at an average price of $41.67 and bought 5,000 shares on the same day. Christopher Wright sold 2,000 shares on June 12, 2026, at $45.10. These transactions were part of planned sales.

Analysts Set New Price Targets

On June 29, 2026, B of A Securities downgraded Alkermes to a sell with a $38 price target. Other firms like Needham and TD Cowen maintained their buy ratings with targets of $61 and $50, respectively. Overall, the consensus recommendation remains a buy, with a mean target price of $48.13 based on 16 analyst opinions.

About Alkermes

Alkermes plc is a biopharmaceutical company headquartered in Dublin, Ireland. It focuses on developing and commercializing pharmaceutical products for unmet medical needs in areas such as opioid dependence, alcohol dependence, and schizophrenia. The company offers products like ARISTADA for schizophrenia and VIVITROL for alcohol dependence. Led by CEO Richard F. Pops, Alkermes employs around 2,050 people and collaborates with firms like Janssen Pharmaceutica.

Bottom Line

B of A Securities' downgrade of Alkermes to a sell reflects a shift in sentiment, with a new price target of $38. Investors should note that 13F filings are backward-looking and may not represent current positions. Alkermes' stock remains a focus due to its position in the healthcare sector and recent insider activity.