Needham Rates Alkermes (ALKS) buy, $61 Price Target

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.

Alkermes plc Stock Up 20.0%

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.

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.