Wells Fargo Rates Alkermes (ALKS) buy, $65 Price Target

Wells Fargo analyst Benjamin Burnett issued a fresh vote of confidence in Alkermes plc (ALKS: NasdaqGS) on June 29, 2026. The analyst reiterated a Buy rating on the biopharmaceutical company and set a price target of $65.00. This target suggests the firm believes the stock has plenty of room to grow from its current trading price.

The gap between the current share price and the Wells Fargo target is a key focus for investors. With the stock trading at $52.41 on Monday, the $65.00 target implies that the firm sees a potential upside of roughly $12.59 per share. This positive outlook comes as the stock has been trading well above its 200-day moving average of $38.54, showing a steady climb over the past several months.

Broad Support Among Analysts

Wells Fargo is among several firms that have recently updated their views on the drug manufacturer. On September 22, 2026, RBC Capital reiterated an Outperform rating with a $56.00 price target. That same day, Baird maintained its Outperform rating and lifted its target from $58.00 to $61.00. Earlier in the year, on September 21, 2026, Needham also reiterated a Buy rating with a $62.00 price target.

Other major firms have weighed in as well. JP Morgan maintained a Neutral rating on July 29, 2026, with a $61.00 target. On July 28, 2026, Piper Sandler reiterated an Overweight rating and significantly raised its target from $43.00 to $65.00. Currently, 17 different analysts cover the stock, and the group has a consensus Buy recommendation with an average price target of $56.65.

Alkermes Financial Snapshot

Alkermes reported revenue of $1.67 billion in its most recent period, which represents a 27% increase in sales. The company is profitable, reporting a net margin of 3.97% and earnings per share of $0.38. Its price-to-earnings (P/E) ratio sits at 116.26, though its forward P/E—a measure that looks at estimated future earnings—is much lower at 24.43. The company holds a current ratio of 2.3, which is a common way to measure whether a business has enough cash and short-term assets to cover its immediate bills.

Drug Development and Market Reach

Alkermes is a biopharmaceutical firm that focuses on medicines for neuroscience and oncology. It makes several well-known treatments for conditions like schizophrenia, bipolar I disorder, and alcohol or opioid dependence. Some of its main products include the injectable treatments Aristada and Vivitrol, as well as Lybalvi, an oral medication. Because the company has multiple products already on the market and a pipeline of new drugs in testing, analysts often watch its earnings closely to see how quickly these treatments are being adopted by doctors and patients.

What's Ahead for Alkermes plc

Investors will likely focus on the company's next quarterly results, which are scheduled for release on October 28, 2026. These reports give the market a chance to see if the 27% revenue growth seen in the last period is holding up. While analyst price targets provide a glimpse into how Wall Street sees the company's value, they are based on estimates and can change as new financial data becomes available.