Alkermes Stock Quote and Recent Company News

Alkermes' stock price has been fluctuating, reaching a high of $55.41 in 2020 but then dropping to $21.91 in 2022.

The company's financial performance has been impacted by the COVID-19 pandemic, with revenue declining by 14% in 2020 compared to the previous year.

Alkermes has been working to develop new treatments for neurological and psychiatric disorders, including a potential treatment for multiple sclerosis.

In 2022, Alkermes announced a partnership with a biotech company to co-develop a treatment for a rare genetic disorder.

Alkermes stock has been on a roll, with a current share price of $31.25. This is a 5.75% increase in just one month.

The company's stock price has fluctuated over the past year, reaching a 52-week high of $32.88 and a low of $22.90. This volatility can be a bit unsettling for investors.

However, the long-term trend is looking up, with a 5-year change of 78.37% and a 3-year change of 23.66%. That's a significant increase in value over time.

Here's a quick snapshot of Alkermes' stock performance:

In comparison to the US Biotechs industry, Alkermes has exceeded expectations, returning 14.0% over the past year. However, it has underperformed the US Market, which returned 22.7% over the same period.

Alkermes has made significant strides in its research and development efforts, with a focus on advancing its pipeline of innovative treatments for central nervous system (CNS) disorders.

The company has a strong track record of success, having received FDA approval for several of its products, including VIVITROL, a medication for the treatment of opioid dependence.

Alkermes has also made strategic partnerships to further its research and development goals, including a collaboration with Janssen Pharmaceuticals to develop a treatment for schizophrenia.

Alkermes is making strides with its Lybalvi treatment, showing promise in addressing the needs of patients with schizophrenia and bipolar I disorder.

The company's focus on developing innovative treatments is evident in its efforts to improve patient outcomes.

ALKS-2680, a medication for narcolepsy and idiopathic hypersomnia, has demonstrated significant efficacy in Phase 1 trials.

Alkermes has launched its 7th Annual Research Awards Program, a competitive grant program that offers individual grants of up to $100,000 per project.

The application period for the program runs from September 20, 2024, through November 30, 2024.

The financial data for Alkermes stock is quite impressive. The current after-market price is $31.26, with a slight increase of +0.01 (0.03%) at 7:58 PM ET.

The stock has a Zacks Rank of 1, which indicates a Strong Buy rating. This means that the stock has a high probability of success over the next 1 to 3 months.

According to the Zacks Rank system, a Strong Buy rating corresponds to an annualized return of 24.30%. This is significantly higher than the S&P 500's annualized return of 11.39%.

The stock's Value Score is A, which indicates that it is undervalued compared to its peers. Its Growth Score is also A, indicating strong growth potential. The Momentum Score is A as well, indicating a strong upward trend in the stock's price.

The VGM Score, which combines the weighted average of the individual style scores, is also A. This suggests that the stock has a strong overall performance in terms of value, growth, and momentum.

Here's a breakdown of the Zacks Rank system:

The Zacks Industry Rank assigns a rating to each of the 265 X (Expanded) Industries based on their average Zacks Rank. The industry with the best average Zacks Rank would be considered the top industry, which would place it in the top 1% of Zacks Ranked Industries.

Analysts are generally optimistic about ALKS stock, with an average rating of "Buy" from 11 analysts.

According to the latest analyst opinions, Cantor Fitzgerald maintained a "Buy" rating with a price target of $48 on July 25, 2024.

J.P. Morgan, on the other hand, maintained a "Hold" rating with a price target of $32 on the same date.

Baird Patrick & Co also maintained a "Buy" rating with a price target of $38 on July 25, 2024.

H.C. Wainwright & Co maintained a "Hold" rating with a price target of $37 on July 25, 2024.

The stock price forecast for ALKS is $36.0, which represents a 15.20% increase from the latest price.

Here's a summary of the analyst opinions:

Some analysts have been more optimistic about the stock, with Jefferies & Company Inc. maintaining a "Buy" rating with a price target of $50 on April 9, 2024.

Piper Sandler also maintained a "Buy" rating with a price target of $39 on April 1, 2024, and again on June 16, 2024.