Wells Fargo Reiterates Buy Rating on Alkermes plc
Wells Fargo maintains its optimistic outlook on Alkermes with a $65 price target, a 24.02% upside from the current price.
Key Points
- Wells Fargo reiterated its buy rating for Alkermes plc (ALKS) with a price target of $65 on June 29, 2026.
- Wells Fargo's $65 price target implies 24.02% upside from Alkermes plc's ($ALKS) current $52.41 share price.
- Alkermes plc, trading at $55.08, has a market cap of $9.18 billion and a P/E ratio of 61.2.
- Recent insider sales include EVP Craig Hopkinson selling 9,000 shares at $41.67 on June 1, 2026.
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Wells Fargo has reiterated its buy rating on Alkermes plc (NasdaqGS: ALKS), maintaining a price target of $65. The update came on June 29, 2026, as Alkermes shares traded near $55.08.
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Other Institutional Activity in Alkermes
BlackRock, Inc. grew its holdings in Alkermes by 41,998 shares, ending with 28,314,410 shares worth about $1.0 billion. Baker Bros. Advisors LP held steady with 10,012,267 shares valued at $354.0 million. Vanguard Portfolio Management LLC opened a new position with 9,511,112 shares valued at $336.3 million. Meanwhile, State Street Corp trimmed its stake by 7,572 shares, leaving it with 9,465,286 shares worth $334.7 million. Renaissance Technologies LLC reduced its holdings by 507,600 shares, now holding 6,160,428 shares valued at $217.8 million.
Alkermes plc Stock Up 10.5%
On Monday, shares of Alkermes plc traded at $55.08. The company, with a market cap of approximately $9.18 billion, has a P/E ratio of 61.2 and a forward P/E of 35.4. Its beta is 0.334, indicating lower volatility than the market. The stock's 52-week range is 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, with a debt-to-equity ratio of 90.30.
$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, reflecting a growth of 28.2%. The company's net margin stands at 9.8%, with a return on equity of 9.4%. Earnings per share (EPS) is $0.90. The next earnings report is scheduled for July 28, 2026.
Insider Buying and Selling at Alkermes plc
Recent insider activity includes EVP Craig Hopkinson selling 9,000 shares at an average price of $41.67 on June 1, 2026, under a planned sale. EVP and Chief Medical Officer Craig Hopkinson also bought 5,000 shares at $19.34 on the same day, not under a planned sale. VP Samuel Joseph Parisi sold 16,217 shares on May 29, 2026.
Analysts Set New Price Targets
On June 29, 2026, Wells Fargo maintained its buy rating on Alkermes with a $65 price target. The same day, B of A Securities downgraded the stock to a sell with a $38 target. Needham maintained a buy rating with a $61 target on June 24, 2026. The consensus recommendation remains a buy with a mean target price of $48.13 based on 16 analyst opinions.
About Alkermes plc
Alkermes plc is a biopharmaceutical company that focuses on developing innovative medicines to address unmet medical needs. Based in Dublin, Ireland, the company operates in the healthcare sector, specifically within the drug manufacturing industry. Alkermes has a range of proprietary products for treating conditions such as opioid dependence, schizophrenia, and bipolar disorder. Led by CEO Richard F. Pops, the company employs around 2,050 people.
Bottom Line
Investors should note that Wells Fargo's reiterated buy rating and $65 target price reflect confidence in Alkermes' future potential. However, it's important to remember that analyst ratings are opinions and not guarantees of performance. The company's financials, such as its strong revenue growth and upcoming earnings report, are crucial for stakeholders to watch closely.
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