Cantor Fitzgerald analyst Charles Duncan maintains $Alkermes (ALKS.US)$ with a buy rating, and adjusts the target price from $48 to $43.
According to TipRanks data, the analyst has a success rate of 50.7% and a total average return of 24.2% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Alkermes (ALKS.US)$'s main analysts recently are as follows:
Alkermes reported third-quarter results that were generally consistent with expectations and maintained its 2024 outlook. However, the emphasis during the earnings call was on management's indication that 2025 EBITDA is anticipated to exceed $200M, contrasting with a general expectation of $400M. This discrepancy in EBITDA compared to consensus figures seems to be primarily due to the anticipated loss of high-margin royalty revenues, along with increased spending to some degree.
Alkermes' Q3 performance reflected a mix of outcomes from its existing commercial suite, which overall aligned with expectations. The company is proactively channeling its investments towards ALKS-2680 and exploring the broad possibilities presented by its orexin-2 receptor agonist pipeline. Despite the near-term influence moderating profit prospects, there is optimism regarding the long-term value generation prospects of ALKS-2680.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
