JPMorgan Raises Alkermes Price Target to $61 Amid Analyst Upgrades

JPMorgan Chase & Co. lifted its price target for Alkermes (NASDAQ:ALKS) from $60.00 to $61.00 in a research note, maintaining a neutral rating and citing a potential 26.6% upside from the previous close. Other analysts also adjusted targets: UBS Group raised its target to $48.00 with a buy rating, Stifel Nicolaus set a $63.00 target, Robert W. Baird increased its target to $58.00, while Weiss Ratings slightly lowered its hold rating. Overall, MarketBeat reports an average analyst rating of “moderate buy” and an average target price of $54.56.

Alkermes shares traded down $2.33 to $48.17 during the session, with a market capitalization of $8.03 billion, a P/E ratio of 53.81, and a beta of 0.34. The company’s financial ratios include a debt‑to‑equity of 0.85, a current ratio of 2.27 and a quick ratio of 1.70. Insider David Joseph Gaffin sold 2,034 shares at an average price of $43.05, reducing his stake by 0.88%.