Zacks: Brokerages Expect Alkermes PLC (ALKS) to Post -$0.26 EPS
Wall Street analysts expect that Alkermes PLC (NASDAQ:ALKS) will announce earnings per share (EPS) of ($0.26) for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Alkermes PLC’s earnings. Alkermes PLC posted earnings per share of ($0.18) during the same quarter last year, which would indicate a negative year-over-year growth rate of 44.4%. The business is scheduled to report its next quarterly earnings report on Thursday, July 27th.
On average, analysts expect that Alkermes PLC will report full-year earnings of ($0.78) per share for the current year, with EPS estimates ranging from ($0.82) to ($0.73). For the next financial year, analysts forecast that the company will post earnings of ($0.38) per share, with EPS estimates ranging from ($0.40) to ($0.36). Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that follow Alkermes PLC.
Alkermes PLC (NASDAQ:ALKS) last announced its quarterly earnings data on Thursday, April 27th. The company reported ($0.31) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by $0.07. The company had revenue of $191.80 million during the quarter, compared to the consensus estimate of $195.79 million. Alkermes PLC had a negative net margin of 25.61% and a negative return on equity of 9.76%. Alkermes PLC’s revenue was up 22.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.16) EPS.
ALKS has been the topic of a number of analyst reports. Cowen and Company restated a “positive” rating and issued a $65.00 target price on shares of Alkermes PLC in a report on Tuesday, March 21st. Credit Suisse Group reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Alkermes PLC in a research report on Wednesday, June 7th. J P Morgan Chase & Co set a $78.00 price objective on shares of Alkermes PLC and gave the stock a “buy” rating in a research report on Thursday, April 27th. Leerink Swann downgraded shares of Alkermes PLC from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $68.00 to $61.00 in a research report on Tuesday, June 13th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Alkermes PLC in a research report on Monday, April 3rd. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Alkermes PLC currently has a consensus rating of “Hold” and an average target price of $62.55.
Shares of Alkermes PLC (NASDAQ ALKS) traded down 0.66% during trading on Wednesday, hitting $57.63. The stock had a trading volume of 490,696 shares. The firm has a 50-day moving average of $58.62 and a 200 day moving average of $57.52. Alkermes PLC has a 1-year low of $41.93 and a 1-year high of $63.40. The company’s market capitalization is $8.83 billion.
In related news, Director Paul J. Mitchell sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $58.11, for a total transaction of $87,165.00. Following the sale, the director now directly owns 9,500 shares in the company, valued at approximately $552,045. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michael J. Landine sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $57.01, for a total transaction of $570,100.00. Following the sale, the senior vice president now owns 172,370 shares in the company, valued at $9,826,813.70. The disclosure for this sale can be found here. Insiders have sold a total of 139,500 shares of company stock worth $8,086,675 over the last 90 days. 5.34% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in ALKS. Daiwa SB Investments Ltd. purchased a new stake in Alkermes PLC during the second quarter valued at about $166,000. Greenwood Capital Associates LLC boosted its stake in Alkermes PLC by 2.4% in the first quarter. Greenwood Capital Associates LLC now owns 3,729 shares of the company’s stock valued at $218,000 after buying an additional 89 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its stake in Alkermes PLC by 5.9% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 4,053 shares of the company’s stock valued at $222,000 after buying an additional 224 shares in the last quarter. Achmea Investment Management B.V. purchased a new stake in Alkermes PLC during the first quarter valued at about $247,000. Finally, Nomura Holdings Inc. purchased a new stake in Alkermes PLC during the first quarter valued at about $266,000. Institutional investors own 97.24% of the company’s stock.
COPYRIGHT VIOLATION WARNING: This article was posted by American Banking News and is owned by of American Banking News. If you are viewing this article on another website, it was illegally stolen and republished in violation of United States and international copyright & trademark law. The correct version of this article can be read at https://www.americanbankingnews.com/2017/07/19/zacks-brokerages-expect-alkermes-plc-alks-to-post-0-26-eps.html.
Alkermes PLC Company Profile
Alkermes plc is a biopharmaceutical company. The Company is engaged in the researching, developing and commercializing pharmaceutical products that are designed to address medical needs of patients in therapeutic areas. The Company has a portfolio of marketed drug products and a clinical pipeline of products that address central nervous system (CNS) disorders, such as schizophrenia, depression, addiction and multiple sclerosis (MS).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Alkermes PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alkermes PLC and related companies with MarketBeat.com's FREE daily email newsletter.