Alkermes plc (NASDAQ:ALKS) Expected to Announce Quarterly Sales of $275.49 Million


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Equities analysts predict that Alkermes plc (NASDAQ:ALKS) will post sales of $275.49 million for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Alkermes’ earnings, with the highest sales estimate coming in at $285.30 million and the lowest estimate coming in at $263.36 million. Alkermes reported sales of $247.53 million during the same quarter last year, which indicates a positive year-over-year growth rate of 11.3%. The business is scheduled to issue its next quarterly earnings results on Wednesday, August 4th.

On average, analysts expect that Alkermes will report full year sales of $1.14 billion for the current financial year, with estimates ranging from $1.13 billion to $1.16 billion. For the next fiscal year, analysts anticipate that the company will report sales of $1.26 billion, with estimates ranging from $1.19 billion to $1.32 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Alkermes.

Alkermes (NASDAQ:ALKS) last announced its earnings results on Tuesday, April 27th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.13. Alkermes had a negative net margin of 6.28% and a positive return on equity of 9.35%. The business had revenue of $251.43 million during the quarter, compared to analysts’ expectations of $233.78 million. During the same period in the prior year, the company earned $0.01 earnings per share. The business’s revenue was up 2.1% compared to the same quarter last year.

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

Shares of ALKS stock traded up $0.17 during mid-day trading on Thursday, reaching $22.30. The company’s stock had a trading volume of 1,799,236 shares, compared to its average volume of 1,332,691. The company’s 50 day simple moving average is $19.98 and its 200-day simple moving average is $19.73. Alkermes has a 12-month low of $13.91 and a 12-month high of $23.92. The company has a quick ratio of 2.39, a current ratio of 2.71 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $3.58 billion, a PE ratio of -48.78, a price-to-earnings-growth ratio of 12.74 and a beta of 1.25.

In related news, Director Wendy L. Dixon sold 25,000 shares of Alkermes stock in a transaction dated Monday, April 19th. The shares were 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 in the company, valued at approximately $1,232,000. The sale was disclosed in a legal filing with the SEC, 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 shares were sold at an average price of $20.00, for a total transaction of $695,840.00. Following the completion of the sale, the chief financial officer now owns 48,570 shares in the company, valued at $971,400. The disclosure for this sale can be found here. Over the last quarter, insiders sold 88,920 shares of company stock worth $1,770,300. 4.49% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Alkermes during the 4th quarter worth about $37,688,000. Krensavage Asset Management LLC raised its position in shares of Alkermes by 3.1% during the 4th quarter. Krensavage Asset Management LLC now owns 1,620,675 shares of the company’s stock worth $32,332,000 after buying an additional 48,280 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Alkermes by 2.5% during the 4th quarter. Renaissance Technologies LLC now owns 6,955,413 shares of the company’s stock worth $138,760,000 after buying an additional 171,200 shares in the last quarter. Mackenzie Financial Corp bought a new stake in shares of Alkermes during the 4th quarter worth about $240,000. Finally, S&CO Inc. raised its position in shares of Alkermes by 7.0% during the 4th quarter. S&CO Inc. now owns 152,200 shares of the company’s stock worth $3,036,000 after buying an additional 10,000 shares in the last quarter. Institutional investors own 97.30% of the company’s stock.

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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