Alkermes plc (NASDAQ:ALKS) Expected to Announce Earnings of $0.09 Per Share


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Wall Street analysts expect Alkermes plc (NASDAQ:ALKS) to announce $0.09 earnings per share for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Alkermes’ earnings, with the lowest EPS estimate coming in at $0.07 and the highest estimate coming in at $0.11. Alkermes reported earnings per share of $0.06 during the same quarter last year, which indicates a positive year-over-year growth rate of 50%. The company is scheduled to report its next earnings report on Wednesday, August 4th.

According to Zacks, analysts expect that Alkermes will report full year earnings of $0.43 per share for the current year, with EPS estimates ranging from $0.31 to $0.53. For the next financial year, analysts expect that the firm will report earnings of $0.96 per share, with EPS estimates ranging from $0.28 to $1.43. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Alkermes.

Alkermes (NASDAQ:ALKS) last released its quarterly earnings results on Tuesday, April 27th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.13. Alkermes had a positive return on equity of 9.35% and a negative net margin of 6.28%. The firm had revenue of $251.43 million for the quarter, compared to the consensus estimate of $233.78 million. During the same period last year, the business posted $0.01 EPS. The company’s revenue for the quarter was up 2.1% on a year-over-year basis.

A number of equities analysts recently commented on ALKS shares. HC Wainwright raised their target price on Alkermes from $23.00 to $24.00 and gave the stock a “neutral” rating in a report on Thursday, April 29th. Mizuho raised their target price on Alkermes from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Monday, April 26th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. Alkermes presently has an average rating of “Hold” and an average target price of $22.00.

Alkermes stock traded up $0.17 during trading on Tuesday, reaching $22.30. The company had a trading volume of 1,799,236 shares, compared to its average volume of 1,332,691. Alkermes has a 52 week low of $13.91 and a 52 week high of $23.92. The firm’s 50-day simple moving average is $19.98 and its 200 day simple moving average is $19.73. The firm has a market capitalization of $3.58 billion, a price-to-earnings ratio of -48.78, a price-to-earnings-growth ratio of 12.74 and a beta of 1.25. The company has a current ratio of 2.71, a quick ratio of 2.39 and a debt-to-equity ratio of 0.25.

In other news, Director Wendy L. Dixon sold 25,000 shares of Alkermes stock in a transaction dated Monday, April 19th. The stock was sold at an average price of $20.00, for a total value of $500,000.00. Following the sale, the director now directly owns 61,600 shares of the company’s stock, valued at $1,232,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Iain Michael Brown sold 34,792 shares of Alkermes stock in a transaction dated Monday, April 19th. The stock was sold at an average price of $20.00, for a total value of $695,840.00. Following the completion of the sale, the chief financial officer now directly owns 48,570 shares in the company, valued at $971,400. The disclosure for this sale can be found here. Over the last three months, insiders have sold 88,920 shares of company stock worth $1,770,300. Insiders own 4.49% of the company’s stock.

Several hedge funds have recently modified their holdings of ALKS. Virginia Retirement Systems ET AL grew its position in Alkermes by 109.0% in the first quarter. Virginia Retirement Systems ET AL now owns 139,800 shares of the company’s stock worth $2,611,000 after acquiring an additional 72,900 shares in the last quarter. Meeder Asset Management Inc. raised its stake in Alkermes by 15,286.0% in the first quarter. Meeder Asset Management Inc. now owns 15,386 shares of the company’s stock worth $286,000 after buying an additional 15,286 shares in the last quarter. US Bancorp DE raised its stake in Alkermes by 18.2% in the first quarter. US Bancorp DE now owns 4,278 shares of the company’s stock worth $80,000 after buying an additional 658 shares in the last quarter. Fisher Asset Management LLC raised its stake in Alkermes by 19.1% in the first quarter. Fisher Asset Management LLC now owns 83,700 shares of the company’s stock worth $1,564,000 after buying an additional 13,414 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Alkermes by 1.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 905,900 shares of the company’s stock worth $18,077,000 after purchasing an additional 14,671 shares in the last quarter. 97.30% of the stock is currently owned by hedge funds and other institutional investors.

About Alkermes

Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in various therapeutic areas in the United States, Ireland, and internationally. Its marketed products include ARISTADA (aripiprazole lauroxil), an extended-release intramuscular injectable suspension for the treatment of schizophrenia; VIVITROL (naltrexone for extended-release injectable suspension) for the treatment of alcohol and opioid dependence; RISPERDAL CONSTA for the treatment of schizophrenia and bipolar I disorder; INVEGA SUSTENNA for the treatment of schizophrenia and schizoaffective disorder; XEPLION, INVEGA TRINZA, and TREVICTA to treat schizophrenia; and VUMERITY (diroximel fumarate) for the treatment of relapsing forms of multiple sclerosis in adults, including clinically isolated syndrome, relapsing-remitting and active secondary progressive diseases.

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