Alkermes (ALKS) Plunges 4.41% on Earnings Disappointment

Alkermes (ALKS) shares plunged 4.41% today, marking the fourth consecutive day of decline, with a total drop of 13.66% over the past four days. The stock price fell to its lowest level since January 2025, with an intraday decline of 5.43%.

Bank of America Securities analyst Jason Gerberry maintained a Hold rating on Alkermes and set a price target of $35.00. This rating could influence investor sentiment and contribute to the stock's price stability.

Rhenman & Partners Asset Management AB and Wellington Management Group LLP both significantly reduced their holdings in Alkermes during the fourth quarter. These reductions in institutional holdings may exert downward pressure on the stock price, affecting investor confidence.

Alkermes stock experienced a decline of 6.6% since the last earnings report, which occurred 30 days ago. This indicates that the market may have reacted negatively to the earnings results, impacting the stock price.

Alkermes announced the commencement of an idiopathic hypersomnia study on ALKS 2680. This development might influence investor sentiment positively, reflecting future growth potential and providing a potential catalyst for a rebound in the stock price.