$278.60 Million in Sales Expected for Alkermes plc (NASDAQ:ALKS) This Quarter

Equities research analysts expect that Alkermes plc (NASDAQ:ALKS) will announce sales of $278.60 million for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Alkermes’ earnings, with estimates ranging from $274.20 million to $285.30 million. Alkermes reported sales of $247.53 million during the same quarter last year, which indicates a positive year-over-year growth rate of 12.6%. The firm is expected to issue its next quarterly earnings results on Wednesday, August 4th.

On average, analysts expect that Alkermes will report full year sales of $1.15 billion for the current fiscal year, with estimates ranging from $1.13 billion to $1.17 billion. For the next fiscal year, analysts expect that the business will post sales of $1.26 billion, with estimates ranging from $1.19 billion to $1.31 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Alkermes.

Alkermes (NASDAQ:ALKS) last announced its quarterly earnings results on Tuesday, April 27th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.13. The company had revenue of $251.43 million for the quarter, compared to analyst estimates of $233.78 million. Alkermes had a negative net margin of 9.06% and a negative return on equity of 0.15%. Alkermes’s revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.01 earnings per share.

Several research analysts have recently issued reports on the company. HC Wainwright increased their price target on Alkermes from $24.00 to $25.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 2nd. Mizuho reiterated a “buy” rating and issued a $29.00 target price on shares of Alkermes in a research report on Tuesday, June 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $22.20.

In other news, SVP David Joseph Gaffin sold 13,500 shares of Alkermes stock in a transaction that occurred on Monday, June 7th. The shares were sold at an average price of $24.00, for a total value of $324,000.00. Following the transaction, the senior vice president now owns 88,097 shares of the company’s stock, valued at approximately $2,114,328. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David W. Anstice sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 7th. The stock was sold at an average price of $24.00, for a total transaction of $120,000.00. Following the completion of the sale, the director now owns 78,081 shares in the company, valued at $1,873,944. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 529,147 shares of company stock worth $11,472,260. 4.63% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in ALKS. Nicollet Investment Management Inc. boosted its position in shares of Alkermes by 1.9% in the 4th quarter. Nicollet Investment Management Inc. now owns 26,772 shares of the company’s stock valued at $534,000 after purchasing an additional 490 shares during the period. US Bancorp DE raised its holdings in shares of Alkermes by 18.2% during the first quarter. US Bancorp DE now owns 4,278 shares of the company’s stock valued at $80,000 after acquiring an additional 658 shares during the period. Credit Agricole S A lifted its position in shares of Alkermes by 46.9% in the 4th quarter. Credit Agricole S A now owns 2,350 shares of the company’s stock valued at $47,000 after acquiring an additional 750 shares in the last quarter. Twin Tree Management LP purchased a new stake in shares of Alkermes in the 4th quarter valued at approximately $26,000. Finally, Neo Ivy Capital Management acquired a new position in Alkermes in the 4th quarter worth approximately $29,000. 97.36% of the stock is currently owned by institutional investors.

ALKS traded up $0.45 during trading hours on Friday, hitting $25.15. The company’s stock had a trading volume of 2,387,094 shares, compared to its average volume of 1,524,176. The business’s 50-day moving average is $21.48. The company has a quick ratio of 2.38, a current ratio of 2.75 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $4.04 billion, a price-to-earnings ratio of -41.65 and a beta of 0.98. Alkermes has a fifty-two week low of $15.35 and a fifty-two week high of $25.30.

Alkermes Company Profile

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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