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 * Home
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 * Alkermes-stock
 * News for Alkermes Alkermes
 * Buy Rating Affirmed on Alkermes’s Stock Amid Strong Earnings and Positive
   2024 Outlook


BUY RATING AFFIRMED ON ALKERMES’S STOCK AMID STRONG EARNINGS AND POSITIVE 2024
OUTLOOK




TipRanks
Jan. 25, 2024, 11:48 PM










Uy Ear, an analyst from Mizuho Securities, maintained the Buy rating on Alkermes
(ALKS – Research Report). The associated price target is $35.00.

Uy Ear of Mizuho Securities has given a Buy rating to Alkermes’s stock based on
an anticipated earnings beat and positive 2024 guidance expectations. For the
fourth quarter of 2023, Ear expects Alkermes to surpass consensus estimates on
both revenue and earnings per share, primarily due to strong manufacturing and
royalty revenues. Although there may be some softness in sales of proprietary
products like Vivitrol, Aristada, and Lybalvi, this has been foreseen through
weekly prescription volume data. Ear maintains confidence in the stock with an
unchanged price target of $35 following a comprehensive model update.
Looking ahead to 2024, the analyst projects that Alkermes will exceed consensus
revenue and non-GAAP earnings per share estimates. This outlook is bolstered by
management’s accelerated profitability targets and a commitment to a roughly 30%
EBITDA margin, which were initially set to be achieved later. Despite the
stock’s underperformance and investor skepticism regarding the feasibility of
these targets, Ear believes that the strong guidance provided by Alkermes,
especially for their proprietary products, suggests potential for an earnings
upside. Hence, the sustained Buy rating reflects an anticipation of Alkermes’s
ability to outperform market expectations and achieve their profitability goals.

Ear covers the Healthcare sector, focusing on stocks such as Arcutis
Biotherapeutics, ACADIA Pharmaceuticals, and Neurocrine. According to TipRanks,
Ear has an average return of 4.1% and a 41.09% success rate on recommended
stocks.

In another report released on January 16, Piper Sandler also reiterated a Buy
rating on the stock with a $35.00 price target.

See today’s best-performing stocks on TipRanks >>






TipRanks tracks over 100,000 company insiders, identifying the select few who
excel in timing their transactions. By upgrading to TipRanks Premium, you will
gain access to this exclusive data and discover crucial insights to guide your
investment decisions. Begin your TipRanks Premium journey today.



Alkermes (ALKS) Company Description:

Alkermes Plc is a biopharmaceutical company, which engages in the development,
research, and commercialization of medicines that are designed to address unmet
medical needs of patients in major therapeutic areas. Its products include
Aristada, which is used for the treatment of schizophrenia in adults; and
Vivitrol, which is an injectable medication for the treatment of alcohol
dependence and for the prevention of relapse to opioid dependence, following
opioid detoxification. The company was founded on May 4, 2011 and is
headquartered in Dublin, Ireland.






Read More on ALKS:

 * Alkermes reports results from Phase 3 study of LYBALVI
 * Alkermes price target raised to $29 from $27 at BofA
 * Alkermes, Armstrong World, National Healthcare, PJT Partners to join S&P 600
 * Alkermes to sell manufacturing facility in Ireland to Novo Nordisk for $92.5M
 * Alkermes weakness on Jazz pause a buying opportunity, says Mizuho




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ALKERMES NEWSMORE



Alkermes Buy Rating Affirmed: Profitability and Expansion in Neuroscience Poised
for Growth
TipRanks 1d
Buy Rating Affirmed on Alkermes’s Stock Amid Strong Earnings and Positive 2024
Outlook
TipRanks 5d
The 3 Most Undervalued Biotech Stocks to Buy in January
InvestorPlace 15d
Alkermes Poised for Growth: Strong Sales and Promising Pipeline Justify Buy
Rating
TipRanks 20d
Alkermes: Strong Buy Rating Amidst Robust 2024 Outlook and Promising OX2
Franchise Prospects
TipRanks 22d
Alkermes Reports Results From Long-Term Safety And Durability Of Treatment
Effect Study Of LYBALVI
RTTNews 28d
Analysts Offer Insights on Healthcare Companies: Green Thumb Industries
(OtherGTBIF), Alkermes (ALKS) and Zealand Pharma (OtherZLDPF)
TipRanks 28d
Decoding 5 Analyst Evaluations For Alkermes
Benzinga 28d



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