Alkermes (NASDAQ:ALKS) Stock, Quote.Headers.trade-ideas

Alkermes

Alkermes PLC is a fully integrated biotechnology company that applies its proprietary technologies to research, develop, and commercialize pharmaceutical products designed for unmet medical needs in therapeutic areas. The company utilizes several to develop and commercialize products and, in so doing, access technological, financial, marketing, manufacturing, and other resources. Alkermes either purchases active drug products from third parties or receives them from its third-party licensees to formulate products using its technologies. It operates in U.S., which derives maximum revenue, Ireland and Rest of the world.

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ALKS

Alkermes (NASDAQ: ALKS) came out with quarterly earnings of $0.72 per share, missing the Zacks Consensus Estimate of $0.73 per share. This compares to earnings of $0.55 per share a year ago. These figures are adjusted for non-recurring items.

Alkermes Lags Q2 Earnings Estimates

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Why General Dynamics Shares Are Trading Lower? Here Are Other Stocks Moving In Wednesday&#39;s Mid-Day Session

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AT&amp;T, Group 1 Automotive, Mattel, Seagate And Other Big Stocks Moving Higher On Wednesday

Alkermes PLC

ALKERMES PLC ORD

Across the recent three months, 6 analysts have shared their insights on Alkermes (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALKS#NASDAQ">ALKS</a>), expressing a variety of opinions spanning from bullish to bearish.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
In the assessment of 12-month price targets, analysts unveil insights for Alkermes, presenting an average target of $39.0, a high estimate of $48.00, and a low estimate of $31.00. Surpassing the previous average price target of $38.50, the current average has increased by 1.3%.
<img src="https://www.benzinga.com/files/images/story/2024/1726520475_0.png" alt="price target chart" />
<h2>Diving into Analyst Ratings: An In-Depth Exploration</h2>
A clear picture of Alkermes's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Charles Duncan</td>
<td>Cantor Fitzgerald</td>
<td>Maintains</td>
<td>Overweight</td>
<td>$48.00</td>
<td>$48.00</td>
</tr>
<tr>
<td>Charles Duncan</td>
<td>Cantor Fitzgerald</td>
<td>Maintains</td>
<td>Overweight</td>
<td>$48.00</td>
<td>$48.00</td>
</tr>
<tr>
<td>Jessica Fye</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Neutral</td>
<td>$32.00</td>
<td>$31.00</td>
</tr>
<tr>
<td>Joel Beatty</td>
<td>Baird</td>
<td>Raises</td>
<td>Outperform</td>
<td>$38.00</td>
<td>$37.00</td>
</tr>
<tr>
<td>Douglas Tsao</td>
<td>HC Wainwright &amp; Co.</td>
<td>Raises</td>
<td>Neutral</td>
<td>$37.00</td>
<td>$35.00</td>
</tr>
<tr>
<td>Jessica Fye</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$31.00</td>
<td>$32.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Alkermes. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Analysts unravel qualitative evaluations for stocks, ranging from 'Outperform' to 'Underperform'. These ratings offer insights into expectations for the relative performance of Alkermes compared to the broader market.</li>
<li>Price Targets: Analysts predict movements in price targets, offering estimates for Alkermes's future value. Examining the current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
Navigating through these analyst evaluations alongside other financial indicators can contribute to a holistic understanding of Alkermes's market standing. Stay informed and make data-driven decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/ALKS/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Alkermes analyst ratings.</a>
<h2>About Alkermes</h2>
Alkermes PLC is a fully integrated biotechnology company that applies its proprietary technologies to research, develop, and commercialize pharmaceutical products designed for unmet medical needs in therapeutic areas. The company utilizes several to develop and commercialize products and, in so doing, access technological, financial, marketing, manufacturing, and other resources. Alkermes either purchases active drug products from third parties or receives them from its third-party licensees to formulate products using its technologies. It operates in U.S., which derives maximum revenue, Ireland and Rest of the world.
<h3>Understanding the Numbers: Alkermes's Finances</h3>
Market Capitalization: Indicating a reduced size compared to industry averages, the company's market capitalization poses unique challenges.
Negative Revenue Trend: Examining Alkermes's financials over 3 months reveals challenges. As of 30 June, 2024, the company experienced a decline of approximately -35.35% in revenue growth, reflecting a decrease in top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Health Care sector.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 22.89%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): Alkermes's ROE surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 7.2% ROE, the company effectively utilizes shareholder equity capital.
Return on Assets (ROA): Alkermes's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 4.22%, the company showcases efficient use of assets and strong financial health.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.29.
<h2>Analyst Ratings: Simplified</h2>
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Alkermes Stock: A Deep Dive Into Analyst Perspectives (6 Ratings)

Cantor Fitzgerald analyst Charles Duncan reiterates Alkermes (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALKS#NASDAQ">ALKS</a>) with a Overweight and maintains $48 price target.

Price Target

Reiteration

Cantor Fitzgerald Reiterates Overweight on Alkermes, Maintains $48 Price Target

Alkermes Announces Initiation Of Vibrance-2 Phase 2 Study Evaluating ALKS 2680 For Treatment Of Narcolepsy Type 2

Guidance

Alkami Sees Q3 Total Revenue $83.8M-$85.3M vs $84.78M Est., Sees FY24 Total Revenue $330.5M-$333.5M vs $331.67M Est.

JP Morgan analyst Jessica Fye maintains Alkermes (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALKS#NASDAQ">ALKS</a>) with a Neutral and raises the price target from $31 to $32.

JP Morgan Maintains Neutral on Alkermes, Raises Price Target to $32

Baird analyst Joel Beatty maintains Alkermes (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALKS#NASDAQ">ALKS</a>) with a Outperform and raises the price target from $37 to $38.

Baird Maintains Outperform on Alkermes, Raises Price Target to $38

HC Wainwright &amp; Co. analyst Douglas Tsao maintains Alkermes (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALKS#NASDAQ">ALKS</a>) with a Neutral and raises the price target from $35 to $37.

HC Wainwright & Co. Maintains Neutral on Alkermes, Raises Price Target to $37

Alkermes (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/alks#NASDAQ">ALKS</a>) came out with quarterly earnings of $0.72 per share, missing the Zacks Consensus Estimate of $0.73 per share. This compares to earnings of $0.55 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -1.37%. A quarter ago, it was expected that this drugmaker would post earnings of $0.59 per share when it actually produced earnings of $0.44, delivering a surprise of -25.42%.
Over the last four quarters, the company has surpassed consensus EPS estimates two times.
Alkermes, which belongs to the Zacks Medical - Biomedical and Genetics industry, posted revenues of $399.13 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 1.21%. This compares to year-ago revenues of $617.4 million. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock&#39;s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management&#39;s commentary on the earnings call.
Alkermes shares have lost about 9.9% since the beginning of the year versus the S&amp;P 500&#39;s gain of 16.5%.
What&#39;s Next for Alkermes?
While Alkermes has underperformed the market so far this year, the question that comes to investors&#39; minds is: what&#39;s next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company&#39;s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Alkermes: mixed. While the magnitude and direction of estimate revisions could change following the company&#39;s just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.79 on $392.26 million in revenues for the coming quarter and $2.67 on $1.51 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Biomedical and Genetics is currently in the top 34% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Arcellx, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aclx#NASDAQ">ACLX</a>), is yet to report results for the quarter ended June 2024.
This company is expected to post quarterly loss of $0.54 per share in its upcoming report, which represents a year-over-year change of -8%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Arcellx, Inc.&#39;s revenues are expected to be $27.73 million, up 93.9% from the year-ago quarter.
<a href="https://www.zacks.com/stock/news/2307547/alkermes-alks-lags-q2-earnings-estimates?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_4-2307547">To read this article on Zacks.com click here.</a>

Shares of General Dynamics Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>) fell sharply during Wednesday's session after the company reported worse-than-expected <a href="https://www.benzinga.com/news/earnings/24/07/39934099/general-dynamics-hits-high-revenue-but-faces-earnings-hiccup-in-q2-details">second-quarter EPS results</a>.
Revenue for the quarter increased 18% year-over-year to $11.976 billion, beating the consensus of $11.438 billion. EPS of $3.26 (up 20.7% YoY) missed the consensus of $3.29, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
General Dynamics shares declined 5.2% to $279.26 on Wednesday.
Here are some other stocks moving in today&#8217;s mid-day session.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>NuZee, Inc.  (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NUZE#NASDAQ">NUZE</a>) jumped 192% to $3.01.</li>
<li>Dermata Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DRMA#NASDAQ">DRMA</a>) rose 142.4% to $3.0799 after falling over 22% on Tuesday.</li>
<li>Selina Hospitality PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLNA#NASDAQ">SLNA</a>) surged 134% to $0.0609.</li>
<li>Bone Biologics Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BBLG#NASDAQ">BBLG</a>) gained 86% to $2.3300.</li>
<li>Carbon Revolution Public Limited Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CREV#NASDAQ">CREV</a>) gained 74.5% to $10.82.</li>
<li>Pieris Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PIRS#NASDAQ">PIRS</a>) jumped 73.4% to $13.77 after the company announced that the company entered into a definitive merger agreement with Palvella Therapeutics.</li>
<li>Sangamo Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGMO#NASDAQ">SGMO</a>) gained 50% to $0.60 after licensing partner Pfizer&#8217;s Phase 3 AFFINE trial evaluating giroctocogene fitelparvovec met its primary endpoint.</li>
<li>Alpha Teknova, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TKNO#NASDAQ">TKNO</a>) gained 28% to $3.2212.</li>
<li>KORE Group Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KORE#NASDAQ">KORE</a>) gained 21.8% to $2.84.</li>
<li>NaaS Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NAAS#NASDAQ">NAAS</a>) rose 20.5% to $6.87 after reporting unaudited 2024 second quarter and first half financial results.</li>
<li>PROG Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRG#NYSE">PRG</a>) climbed 20.4% to $41.71 after the company reported better-than-expected second-quarter financial results. Also, the company raised its FY24 guidance above estimates.</li>
<li>QXO, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QXO#NASDAQ">QXO</a>) gained 19.4% to $94.69. The company on Monday announced a private placement financing.</li>
<li>Silynxcom Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYNX#NYSE">SYNX</a>) rose 18.4% to $3.71. Silynxcom received $815,000 in orders from Israel Defense Forces since July 2024.</li>
<li>NewGenIvf Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NIVF#NASDAQ">NIVF</a>) shares gained 16.4% to $1.0009 after the company announced steady progress in its due diligence efforts in its proposed reverse merger with COVIRIX Medical and anticipates completion by the end of August 2024.</li>
<li>Flex Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLEX#NASDAQ">FLEX</a>) gained 10.9% to $32.96 after the company reported better-than-expected second-quarter financial results.</li>
<li>Manhattan Associates, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MANH#NASDAQ">MANH</a>) climbed 10.5% to $249.78 after the company reported better-than-expected second-quarter financial results.</li>
<li>Group 1 Automotive, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPI#NYSE">GPI</a>) gained 9.6% to $333.95 after the company reported better-than-expected second-quarter adjusted EPS results.</li>
<li>Enphase Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) rose 9.2% to $113.18 after the company reported second-quarter financial results.</li>
<li>Allarity Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALLR#NASDAQ">ALLR</a>) gained 8.7% to $0.1809. Allarity Therapeutics revealed on Monday it received a "Wells Notice" from the U.S. Securities and Exchange Commission (SEC).</li>
<li>Mattel, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAT#NASDAQ">MAT</a>) gained 7.9% to $18.61 after the company reported better-than-expected second-quarter adjusted EPS results.</li>
<li>Seagate Technology Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STX#NASDAQ">STX</a>) shares surged 7.5% to $113.33 after the company reported better-than-expected fourth-quarter financial results and issued first-quarter guidance above estimates.</li>
<li>Alkermes plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALKS#NASDAQ">ALKS</a>) gained 7% to $26.69 after the company reported better-than-expected <a>second-quarter </a>financial results.</li>
<li>Tenet Healthcare Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>) gained 6.8% to $148.17 after the company reported better-than-expected second-quarter financial results and the company and raised its FY24 guidance above estimates. Also, the company announced it authorized a $1.5 billion share buyback.</li>
<li>AT&amp;T Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) gained 3.1% to $18.78 following second-quarter earnings.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Azitra, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZTR#NYSE">AZTR</a>) shares dipped 74.4% to $1.27. Azitra announced the pricing of $10.0 million public offering.</li>
<li>Next Technology Holding Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXTT#NASDAQ">NXTT</a>) fell 58% to $2.42.</li>
<li>Bausch Health Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHC#NYSE">BHC</a>) dipped 43.8% to $4.25.</li>
<li>Nuwellis, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NUWE#NASDAQ">NUWE</a>) fell 37.2% to $2.6199 after the company announced the pricing of a $2 million public offering of 469,340 common shares at $4.24 a share.</li>
<li>Agape ATP Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATPC#NASDAQ">ATPC</a>) dipped 34.2% to $0.1414.</li>
<li>Lamb Weston Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LW#NYSE">LW</a>) declined 26.9% to $57.46 after the company reported worse-than-expected quarterly financial results. Also, the company issued its FY25 EPS guidance below estimates.</li>
<li>Conn&#8217;s, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CONN#NASDAQ">CONN</a>) shares fell 26.7% to $0.3717 as the company announced plans to close 71 locations across 13 states.</li>
<li>Vintage Wine Estates, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VWE#NASDAQ">VWE</a>) fell 24.5% to $0.0868 after the company announced bankruptcy filing and voluntary delisting and SEC deregistration.</li>
<li>Snow Lake Resources Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LITM#NASDAQ">LITM</a>) declined 24.2% to $0.7350 after the company issued an update on Black Lake Uranium Project.</li>
<li>AtlasClear Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATCH#NASDAQ">ATCH</a>) shares declined 23.8% to $0.4228 after gaining 11% on Tuesday.</li>
<li>Verastem, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VSTM#NASDAQ">VSTM</a>) shares fell 22.7% to $2.7750 after the company reported pricing of $55.0 million public offering of common stock, warrants and pre-funded warrants.</li>
<li>Sage Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAGE#NASDAQ">SAGE</a>) dipped 17.8% to $10.75 after the Phase 2 KINETIC 2 study of SAGE-324 did not demonstrate a statistically significant dose-response relationship on the primary endpoint.</li>
<li>Hawaiian Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HA#NASDAQ">HA</a>) dipped 13% to $11.33.</li>
<li>SFL Corporation Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SFL#NYSE">SFL</a>) shares fell 12.3% to $12.23 after the company announced an offering of 8 million common shares.</li>
<li>Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares fell 12% to $216.78. Tesla reported weaker-than-expected earnings for its second quarter, while sales topped estimates. The company reported second-quarter deliveries of 443,956 vehicles and production of 410,831 vehicles, down 5% and 14% year-over-year, respectively.</li>
<li>Karooooo Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KARO#NASDAQ">KARO</a>) dipped 11.3% to $31.90 as the company announced the launch of secondary public offering of ordinary shares.</li>
<li>Bausch + Lomb Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLCO#NYSE">BLCO</a>) fell 10.2% to $15.29.</li>
<li>Kanzhun Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BZ#NASDAQ">BZ</a>) dipped 9.5% to $14.41.</li>
<li>Chijet Motor Company, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CJET#NASDAQ">CJET</a>) fell 9.3% to $4.61 after jumping 55% on Tuesday.</li>
<li>Allegro MicroSystems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALGM#NASDAQ">ALGM</a>) dipped 9.1% to $25.14 after the company announced a primary offering of 25 million shares.</li>
<li>Geron Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GERN#NASDAQ">GERN</a>) shares declined 8.8% to $4.2150 after the company announced the departure of CCO Anil Kapur.</li>
<li>The Trade Desk, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTD#NASDAQ">TTD</a>) fell 8.4% to $92.45.</li>
<li>Roku, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>) fell 8.2% to $56.97.</li>
<li>Deutsche Bank Aktiengesellschaft (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DB#NYSE">DB</a>) shares fell 8% to $15.69 following second-quarter earnings.</li>
<li>NANO Nuclear Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NNE#NASDAQ">NNE</a>) declined 8% to $14.25.</li>
<li>Weatherford International plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WFRD#NASDAQ">WFRD</a>) dipped 7.6% to $123.57 after the company reported worse-than-expected second-quarter financial results.</li>
<li>Roper Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ROP#NYSE">ROP</a>) fell 7.4% to $532.08 after the company reported worse-than-expected second-quarter sales results and issued third-quarter adjusted EPS guidance below estimates.</li>
<li>Volato Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOAR#NYSE">SOAR</a>) shares fell 7.1% to $0.5479 after gaining around 23% on Tuesday.</li>
<li>Fortive Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FTV#NYSE">FTV</a>) fell 6.9% to $71.36 after the company reported worse-than-expected second-quarter sales results and issued FY24 sales guidance below estimates.</li>
<li>Ulta Beauty, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULTA#NASDAQ">ULTA</a>) fell 5.5% to $367.84 after Piper Sandler downgraded the stock from an Overweight to Neutral and lowered its price target from $494 to $404.</li>
<li>Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) shares declined 4.1% to $174.29. Alphabet reported upbeat earnings and sales results for its second quarter on Tuesday. The company also announced a cash dividend of 20 cents per share to be paid on Sept.16 to shareholders of record as of Sept. 9.</li>
<li>Visa Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>) shares fell 3.8% to $254.72 following third-quarter results.</li>
</ul>
Now Read This:  
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/39932485/jim-cramer-calls-axsome-a-double-or-nothing-stock-says-sap-is-incredible">Cramer Calls Axsome A &#8216;Double Or Nothing Stock,&#8217; Says SAP Is &#8216;Incredible</a><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/39932485/jim-cramer-calls-axsome-a-double-or-nothing-stock-says-sap-is-incredible">&#8216;</a></li>
</ul>

Why General Dynamics Shares Are Trading Lower? Here Are Other Stocks Moving In Wednesday's Mid-Day Session

U.S. stocks were lower, with the Dow Jones index falling around 350 points on Wednesday.
Shares of AT&amp;T Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) rose during Wednesday's session following <a href="https://www.benzinga.com/news/earnings/24/07/39929205/at-t-q2-earnings-strong-wireless-net-adds-higher-free-cash-flow-stable-annual-outlook">second-quarter earnings</a>.
AT&amp;T reported fiscal second-quarter 2024 operating revenues of $29.8 billion, down 0.4% year over year and missing the analyst consensus estimate of $29.9 billion. Adjusted EPS of 57 cents is in line with the analyst consensus estimate, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
AT&amp;T shares gained 3.1% to $18.78 on Wednesday.
Here are some other big stocks recording gains in today&#8217;s session.
<ul>
<li>PROG Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRG#NYSE">PRG</a>) shares jumped 20.4% to $41.71 after the company reported better-than-expected second-quarter financial results. Also, the company raised its FY24 guidance above estimates.</li>
<li>QXO, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QXO#NASDAQ">QXO</a>) rose 19.4% to $94.69. The company on Monday announced a private placement financing.</li>
<li>Flex Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLEX#NASDAQ">FLEX</a>) rose 10.9% to $32.96 after the company reported better-than-expected second-quarter financial results.</li>
<li>Manhattan Associates, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MANH#NASDAQ">MANH</a>) gained 10.5% to $249.78 after the company reported better-than-expected second-quarter financial results.</li>
<li>Group 1 Automotive, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPI#NYSE">GPI</a>) rose 9.6% to $333.95 after the company reported better-than-expected second-quarter adjusted EPS results.</li>
<li>Enphase Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) jumped 9.2% to $113.18 after the company reported second-quarter financial results.</li>
<li>Q32 Bio Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QTTB#NASDAQ">QTTB</a>) gained 8.2% to $35.00.</li>
<li>Mattel, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAT#NASDAQ">MAT</a>) rose 7.9% to $18.61 after the company reported better-than-expected second-quarter adjusted EPS results.</li>
<li>Seagate Technology Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STX#NASDAQ">STX</a>) shares climbed 7.5% to $113.33 after the company reported better-than-expected fourth-quarter financial results and issued first-quarter guidance above estimates.</li>
<li>Nabors Industries Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NBR#NYSE">NBR</a>) gained 7.2% to $86.80 following quarterly results.</li>
<li>Alkermes plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALKS#NASDAQ">ALKS</a>) rose 7% to $26.69 after the company reported better-than-expected second-quarter financial results.</li>
<li>Tenet Healthcare Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>) shares climbed 6.8% to $148.17 after the company reported better-than-expected second-quarter financial results and the company and raised its FY24 guidance above estimates. Also, the company announced it authorized a $1.5 billion share buyback.</li>
<li>Avantor, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AVTR#NYSE">AVTR</a>) gained 6.5% to $22.55 after it was announced the stock will join the S&amp;P MidCap 400.</li>
<li>CoStar Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSGP#NASDAQ">CSGP</a>) gained 6.5% to $79.69 following second-quarter results.</li>
<li>Protagonist Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTGX#NASDAQ">PTGX</a>) rose 5.8% to $40.49 after BTIG maintained a Buy rating on the stock and raised its price target from $41 to $51.</li>
<li>QuidelOrtho Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QDEL#NASDAQ">QDEL</a>) rose 5.5% to $39.00. The company announced it will replace Hibbett in the S&amp;P SmallCap 600.</li>
<li>Stifel Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SF#NYSE">SF</a>) rose 5.5% to $86.93 following upbeat earnings.</li>
<li>Vicor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VICR#NASDAQ">VICR</a>) gained 5.5% to $40.02 following quarterly results.</li>
<li>Check Point Software Technologies Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHKP#NASDAQ">CHKP</a>) rose 4.9% to $178.40 following better-than-expected quarterly results.</li>
</ul>
Now Read This: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/39932485/jim-cramer-calls-axsome-a-double-or-nothing-stock-says-sap-is-incredible">Jim Cramer Calls Axsome A &#8216;Double Or Nothing Stock,&#8217; Says SAP Is &#8216;Incredible</a>&#8216;</li>
</ul>

AT&T, Group 1 Automotive, Mattel, Seagate And Other Big Stocks Moving Higher On Wednesday

WIIM

Alkermes shares are trading higher after the company reported better-than-expected Q2 financial results.

Alkermes Q2 2024 Adj EPS $0.72 Beats $0.70 Estimate, Sales $399.131M Beat $393.348M Estimate

Alkermes (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALKS#NASDAQ">ALKS</a>) underwent analysis by 6 analysts in the last quarter, revealing a spectrum of viewpoints from bullish to bearish.
The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
The 12-month price targets, analyzed by analysts, offer insights with an average target of $36.33, a high estimate of $48.00, and a low estimate of $31.00. This current average has increased by 0.92% from the previous average price target of $36.00. 
<img src="https://www.benzinga.com/files/images/story/2024/1721077241_0_0.png" alt="price target chart" />
<h2>Exploring Analyst Ratings: An In-Depth Overview</h2>
A clear picture of Alkermes's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Jessica Fye</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$31.00</td>
<td>$32.00</td>
</tr>
<tr>
<td>Joseph Thome</td>
<td>TD Cowen</td>
<td>Announces</td>
<td>Buy</td>
<td>$34.00</td>
<td>-</td>
</tr>
<tr>
<td>Douglas Tsao</td>
<td>HC Wainwright &amp; Co.</td>
<td>Maintains</td>
<td>Neutral</td>
<td>$35.00</td>
<td>$35.00</td>
</tr>
<tr>
<td>Charles Duncan</td>
<td>Cantor Fitzgerald</td>
<td>Raises</td>
<td>Overweight</td>
<td>$48.00</td>
<td>$43.00</td>
</tr>
<tr>
<td>Douglas Tsao</td>
<td>HC Wainwright &amp; Co.</td>
<td>Maintains</td>
<td>Neutral</td>
<td>$35.00</td>
<td>$35.00</td>
</tr>
<tr>
<td>Douglas Tsao</td>
<td>HC Wainwright &amp; Co.</td>
<td>Maintains</td>
<td>Neutral</td>
<td>$35.00</td>
<td>$35.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Alkermes. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Offering insights into predictions, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Alkermes compared to the broader market.</li>
<li>Price Targets: Analysts provide insights into price targets, offering estimates for the future value of Alkermes's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
To gain a panoramic view of Alkermes's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/ALKS/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Alkermes analyst ratings.</a>
<h2>All You Need to Know About Alkermes</h2>
Alkermes PLC is a fully integrated biotechnology company that applies its proprietary technologies to research, develop, and commercialize pharmaceutical products designed for unmet medical needs in therapeutic areas. The company utilizes several to develop and commercialize products and, in so doing, access technological, financial, marketing, manufacturing, and other resources. Alkermes either purchases active drug products from third parties or receives them from its third-party licensees to formulate products using its technologies. It operates in U.S., which derives maximum revenue, Ireland and Rest of the world.
<h3>Financial Insights: Alkermes</h3>
Market Capitalization: Positioned above industry average, the company's market capitalization underscores its superiority in size, indicative of a strong market presence.
Revenue Growth: Alkermes's revenue growth over a period of 3 months has been noteworthy. As of 31 March, 2024, the company achieved a revenue growth rate of approximately 21.83%. This indicates a substantial increase in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Health Care sector.
Net Margin: Alkermes's net margin surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 10.51% net margin, the company effectively manages costs and achieves strong profitability.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of 3.0%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): Alkermes's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 1.73% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: Alkermes's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.29.
<h2>How Are Analyst Ratings Determined?</h2>
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

6 Analysts Assess Alkermes: What You Need To Know

JP Morgan analyst Jessica Fye maintains Alkermes (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALKS#NASDAQ">ALKS</a>) with a Neutral and lowers the price target from $32 to $31.

JP Morgan Maintains Neutral on Alkermes, Lowers Price Target to $31

Orchestra BioMed Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/obio#NASDAQ">OBIO</a>) shares ended the last trading session 7.3% higher at $6.32. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock&#39;s 12.8% gain over the past four weeks.
The sudden rise in the stock price has likely been driven by the growing optimism of investors regarding the potential of the company&#39;s pipeline. Orchestra BioMed Holdings is currently developing two late-stage flagship technologies designed to address large unmet needs associated with the treatment of hypertension and atherosclerotic artery disease in collaboration with leading medical device companies.
This company is expected to post quarterly loss of $0.42 per share in its upcoming report, which represents a year-over-year change of -20%. Revenues are expected to be $1.16 million, up 25.5% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Orchestra BioMed Holdings, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock&#39;s price usually doesn&#39;t keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on OBIO going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy).
Orchestra BioMed Holdings, Inc. is part of the Zacks Medical - Biomedical and Genetics industry. Alkermes (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/alks#NASDAQ">ALKS</a>), another stock in the same industry, closed the last trading session 0.4% lower at $24.95. ALKS has returned 4.4% in the past month.
Alkermes&#39; consensus EPS estimate for the upcoming report has changed -0.6% over the past month to $0.74. Compared to the company&#39;s year-ago EPS, this represents a change of +34.6%. Alkermes currently boasts a Zacks Rank of #3 (Hold).
<a href="https://www.zacks.com/stock/news/2291977/orchestra-biomed-holdings-inc-obio-stock-jumps-7-3-will-it-continue-to-soar?cid=CS-BENZ-FT-tale_of_the_tape|daily_price_change_5%-2291977">To read this article on Zacks.com click here.</a>

Orchestra BioMed Holdings, Inc. - Ordinary Shares

OBIO

Orchestra BioMed Holdings, Inc. Stock Jumps 7.3%: Will It Continue to Soar?

During the last three months, 7 analysts shared their evaluations of Alkermes (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALKS#NASDAQ">ALKS</a>), revealing diverse outlooks from bullish to bearish.
The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a holistic perspective.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
The 12-month price targets, analyzed by analysts, offer insights with an average target of $39.43, a high estimate of $50.00, and a low estimate of $34.00. This current average has increased by 1.62% from the previous average price target of $38.80. 
<img src="https://www.benzinga.com/files/images/story/2024/1718625683_0.png" alt="price target chart" />
<h2>Exploring Analyst Ratings: An In-Depth Overview</h2>
A clear picture of Alkermes's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Joseph Thome</td>
<td>TD Cowen</td>
<td>Announces</td>
<td>Buy</td>
<td>$34.00</td>
<td>-</td>
</tr>
<tr>
<td>Douglas Tsao</td>
<td>HC Wainwright &amp; Co.</td>
<td>Maintains</td>
<td>Neutral</td>
<td>$35.00</td>
<td>$35.00</td>
</tr>
<tr>
<td>Charles Duncan</td>
<td>Cantor Fitzgerald</td>
<td>Raises</td>
<td>Overweight</td>
<td>$48.00</td>
<td>$43.00</td>
</tr>
<tr>
<td>Douglas Tsao</td>
<td>HC Wainwright &amp; Co.</td>
<td>Maintains</td>
<td>Neutral</td>
<td>$35.00</td>
<td>$35.00</td>
</tr>
<tr>
<td>Douglas Tsao</td>
<td>HC Wainwright &amp; Co.</td>
<td>Maintains</td>
<td>Neutral</td>
<td>$35.00</td>
<td>-</td>
</tr>
<tr>
<td>Akash Tewari</td>
<td>Jefferies</td>
<td>Raises</td>
<td>Buy</td>
<td>$50.00</td>
<td>$42.00</td>
</tr>
<tr>
<td>David Amsellem</td>
<td>Piper Sandler</td>
<td>Maintains</td>
<td>Overweight</td>
<td>$39.00</td>
<td>$39.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Alkermes. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Offering a comprehensive view, analysts assess stocks qualitatively, spanning from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Alkermes compared to the broader market.</li>
<li>Price Targets: Analysts explore the dynamics of price targets, providing estimates for the future value of Alkermes's stock. This examination reveals shifts in analysts' expectations over time.</li>
</ul>
Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into Alkermes's market standing. Stay informed and make well-considered decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/ALKS/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Alkermes analyst ratings.</a>
<h2>All You Need to Know About Alkermes</h2>
Alkermes PLC is a fully integrated biotechnology company that applies its proprietary technologies to research, develop, and commercialize pharmaceutical products designed for unmet medical needs in therapeutic areas. The company utilizes several to develop and commercialize products and, in so doing, access technological, financial, marketing, manufacturing, and other resources. Alkermes either purchases active drug products from third parties or receives them from its third-party licensees to formulate products using its technologies. It operates in U.S., which derives maximum revenue, Ireland and Rest of the world.
<h3>Breaking Down Alkermes's Financial Performance</h3>
Market Capitalization Analysis: The company exhibits a lower market capitalization profile, positioning itself below industry averages. This suggests a smaller scale relative to peers.
Revenue Growth: Over the 3 months period, Alkermes showcased positive performance, achieving a revenue growth rate of 21.83% as of 31 March, 2024. This reflects a substantial increase in the company's top-line earnings. When compared to others in the Health Care sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: Alkermes's net margin surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 10.51% net margin, the company effectively manages costs and achieves strong profitability.
Return on Equity (ROE): Alkermes's ROE stands out, surpassing industry averages. With an impressive ROE of 3.0%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): Alkermes's ROA stands out, surpassing industry averages. With an impressive ROA of 1.73%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: Alkermes's debt-to-equity ratio is below the industry average. With a ratio of 0.29, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
<h2>Understanding the Relevance of Analyst Ratings</h2>
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

The Analyst Landscape: 7 Takes On Alkermes

TD Cowen analyst Joseph Thome initiates coverage on Alkermes (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALKS#NASDAQ">ALKS</a>) with a Buy rating and announces Price Target of $34.

Initiation

TD Cowen Initiates Coverage On Alkermes with Buy Rating, Announces Price Target of $34

HC Wainwright &amp; Co. analyst Douglas Tsao reiterates Alkermes (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALKS#NASDAQ">ALKS</a>) with a Neutral and maintains $35 price target.

HC Wainwright & Co. Reiterates Neutral on Alkermes, Maintains $35 Price Target

&nbsp;<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4180873-1&amp;h=92233571&amp;u=http%3A%2F%2Fwww.alkermes.com%2F&amp;a=Alkermes+plc" target="_blank">Alkermes plc</a>&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALKS#NASDAQ">ALKS</a>) today announced new data from the full narcolepsy type 1 (NT1) cohort of a phase&nbsp;1b, proof-of-concept study evaluating ALKS 2680, the company&#39;s novel, investigational, oral orexin 2 receptor (OX2R) agonist in development as a once-daily treatment for narcolepsy. The data are being presented at SLEEP 2024, the 38th&nbsp;annual meeting of the Associated Professional Sleep Societies (APSS), taking place&nbsp;June 1-5, 2024&nbsp;in&nbsp;Houston.
The phase&nbsp;1b&nbsp;study evaluated the safety, tolerability, pharmacokinetics and pharmacodynamics of ALKS 2680 via once-daily, single, oral administration.&nbsp;Ten patients with NT1 were randomized1&nbsp;to one of four crossover sequences in which each participant received 1 mg, 3 mg and 8 mg of ALKS 2680, and placebo, with washout periods between each treatment. Initial results from the first four patients in this NT1 cohort were previously presented at the 2023 World Sleep Congress.

Alkermes Unveils Phase 1b Data for Narcolepsy Treatment at SLEEP 2024

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Alkermes (NASDAQ:<a href="https://investorplace.com/stock-quotes/alks-stock-quote/">ALKS</a>) just reported results for the second quarter of 2024.<ul><li>Alkermes reported earnings per share of 72 cents. This was above the analyst estimate for EPS of 70 cents.</li><li>The company reported revenue of $399.13 million.</li><li>This was 1.47% better than the analyst estimate for revenue of $393.35 million.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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									</ul>The post <a href="https://investorplace.com/earning-results/2024/07/alks-stock-earnings-alkermes-for-q2-of-2024/">ALKS Stock Earnings: Alkermes Beats EPS, Beats Revenue for Q2 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

ALKS Stock Earnings: Alkermes Beats EPS, Beats Revenue for Q2 2024

Analyst Joseph Thome from TD Cowen maintained a Buy rating on Alkermes (ALKS – Research Report) and increased the price target to $35.00 from $34.0...

Buy Rating for Alkermes Supported by Strong Q2 Performance and Promising Pipeline Potential

Alkermes plc (ALKS) Q2 2024 Earnings Call Transcript

Analyst Chris Shibutani from Goldman Sachs reiterated a Buy rating on Alkermes (ALKS – Research Report) and keeping the price target at $32.00. Chr...

Strong Performance and Clinical Promise Uphold Buy Rating for Alkermes with $32 Target Price

Leerink Partners analyst Marc Goodman has maintained their neutral stance on ALKS stock, giving a Hold rating yesterday. Marc Goodman has given his...

Maintaining Hold on Alkermes: Weighing Solid Performance Against Seasonal Slowdown and Pipeline Uncertainties

Mizuho Securities analyst Uy Ear has maintained their bullish stance on ALKS stock, giving a Buy rating on July 24. Uy Ear has given his Buy rating...

Strong Buy on Alkermes: Solid Q2 Earnings and Promising Drug Pipeline Drive Positive Outlook

Alkermes: Fairly Valued After Post-Earnings Bump

In a report released on July 25, Jessica Fye from J.P. Morgan maintained a Hold rating on Alkermes (ALKS – Research Report), with a price target of...

Alkermes (ALKS) Receives a Hold from J.P. Morgan

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Press Releases

Alkermes Highlights Data Presentations Related to its Psychiatry Franchise at Spring 2024 Scientific Conferences

Alkermes to Present New Clinical Data for ALKS 2680 at SLEEP 2024

Alkermes to Participate in Two Upcoming Investor Conferences

Alkermes Presents Data From Phase 1b Study of ALKS 2680 Demonstrating Improved Wakefulness in Patients With Narcolepsy Type 1 at SLEEP 2024

Alkermes to Report Second Quarter Financial Results on July 24, 2024

Alkermes plc Reports Second Quarter 2024 Financial Results

Alkermes Announces Initiation of Vibrance-2 Phase 2 Study Evaluating ALKS 2680 for the Treatment of Narcolepsy Type 2

Alkermes to Participate in the Morgan Stanley 22nd Annual Global Healthcare Conference

Alkermes Announces Launch of 7th Annual Alkermes Pathways Research Awards® Program

Alkermes to Participate in the TD Cowen 4th Annual Novel Mechanisms in Neuropsychiatry Conference

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