Needham Reiterates Buy Rating on Alkermes with $61 Target
Needham maintains its Buy rating for Alkermes, setting a price target of $61, a 17.17% upside from the current price.
Key Points
- On June 24, 2026, Needham reiterated its Buy rating for Alkermes (ALKS) with a price target of $61.
- Needham's $61 price target implies 17.17% upside from Alkermes plc's ($ALKS) current $52.06 share price.
- Alkermes shares traded near $48.17 on Wednesday, with a market cap of about $7.67 billion and a P/E ratio of 51.1.
- Analysts maintain a Buy consensus for Alkermes, with a mean target price of $47.19 from 16 opinions.
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On June 24, 2026, Needham reiterated its Buy rating on Alkermes plc (NasdaqGS: ALKS) and set a price target of $61. Analyst Ami Fadia made the announcement, reinforcing confidence in the biopharmaceutical company's future prospects.
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Alkermes plc Stock Up 9.8%
Shares of NasdaqGS:ALKS traded near $48.17 on Wednesday. Alkermes has a market capitalization of approximately $7.67 billion. The stock shows a P/E ratio of 51.1 and a forward P/E of 29.6. Its beta is relatively low at 0.334, indicating less volatility compared to the market. Over the past year, the stock has ranged from a low of $25.17 to a high of $46.63. The 50-day moving average is $37.84, and the 200-day moving average stands at $32.18. The company holds a current ratio of 2.27 and a quick ratio of 1.53, with a debt-to-equity ratio of 90.3.
$ALKS price target
Past daily closes and this analyst's 12-month price target. Not investment advice.
Recent Earnings
Alkermes reported revenue of $1.56 billion with a 28.2% growth rate. The company achieved a net margin of 9.8% and a return on equity of 9.4%. Earnings per share were $0.90. The next earnings date is scheduled for July 28, 2026.
Insider Buying and Selling at Alkermes plc
Recent insider transactions at Alkermes included planned sales by Christopher Wright and David Joseph Gaffin, who sold 2,000 and 2,034 shares, respectively, at average prices of $45.10 and $43.05. Craig Hopkinson, EVP R&D and Chief Medical Officer, sold 9,000 shares at $41.67 and bought 5,000 shares at $19.34. Samuel Joseph Parisi, VP Finance, sold 16,217 shares.
Analysts Set New Price Targets
On June 24, 2026, Needham maintained its Buy rating for Alkermes, setting a $61 price target. Other analysts, including TD Cowen and RBC Capital, also maintained Buy ratings with targets of $50 and $56, respectively. The consensus among analysts is a Buy rating, with an average target price of $47.19 based on 16 opinions.
About Alkermes
Alkermes plc is a biopharmaceutical company headquartered in Dublin, Ireland. It focuses on researching, developing, and commercializing drugs to meet unmet medical needs. The company offers products for treating conditions like opioid and alcohol dependence, schizophrenia, and bipolar disorder. Alkermes collaborates with partners such as Janssen Pharmaceutica to expand its reach.
Bottom Line
Needham's reiteration of its Buy rating for Alkermes with a $61 target highlights the firm's positive outlook on the company's growth potential. Investors keep an eye on such analyst actions as they can influence market perceptions. Remember, analyst ratings are just one factor to consider, and this reflects the view as of the report date.
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