Equities research analysts forecast that Alkermes PLC (NASDAQ:ALKS) will post $234.90 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Alkermes PLC’s earnings, with estimates ranging from $233.39 million to $236.40 million. Alkermes PLC reported sales of $180.24 million during the same quarter last year, which indicates a positive year-over-year growth rate of 30.3%. The firm is expected to report its next quarterly earnings report on Wednesday, November 1st.

According to Zacks, analysts expect that Alkermes PLC will report full-year sales of $234.90 million for the current financial year, with estimates ranging from $888.40 million to $900.00 million. For the next financial year, analysts expect that the company will report sales of $1.05 billion per share, with estimates ranging from $1.02 billion to $1.13 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Alkermes PLC.

Alkermes PLC (NASDAQ:ALKS) last released its quarterly earnings data on Thursday, July 27th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. The business had revenue of $218.80 million during the quarter, compared to analyst estimates of $216.54 million. Alkermes PLC had a negative net margin of 24.33% and a negative return on equity of 9.12%. Alkermes PLC’s revenue was up 12.1% compared to the same quarter last year. During the same period last year, the business earned ($0.01) EPS.

A number of equities analysts recently issued reports on ALKS shares. Credit Suisse Group set a $70.00 price objective on shares of Alkermes PLC and gave the stock a “buy” rating in a report on Friday, May 19th. 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 report on Saturday, July 1st. Jefferies Group LLC set a $69.00 price objective on shares of Alkermes PLC and gave the stock a “buy” rating in a report on Friday. Zacks Investment Research raised shares of Alkermes PLC from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Finally, ValuEngine raised shares of Alkermes PLC from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. Alkermes PLC presently has a consensus rating of “Hold” and a consensus target price of $62.89.

In other Alkermes PLC news, Director Paul J. Mitchell sold 1,500 shares of Alkermes PLC stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $57.49, for a total transaction of $86,235.00. Following the transaction, the director now owns 9,500 shares of the company’s stock, valued at $546,155. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shane Cooke sold 10,000 shares of Alkermes PLC stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $60.33, for a total transaction of $603,300.00. Following the transaction, the insider now directly owns 84,708 shares in the company, valued at approximately $5,110,433.64. The disclosure for this sale can be found here. Insiders have sold 14,500 shares of company stock worth $859,065 in the last ninety days. Insiders own 5.34% of the company’s stock.

A number of institutional investors have recently modified their holdings of ALKS. BlackRock Inc. increased its position in shares of Alkermes PLC by 5,927.5% in the first quarter. BlackRock Inc. now owns 10,292,601 shares of the company’s stock valued at $602,115,000 after buying an additional 10,121,839 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Alkermes PLC by 13,784.0% in the second quarter. Janus Henderson Group PLC now owns 2,330,992 shares of the company’s stock valued at $135,128,000 after buying an additional 2,314,203 shares in the last quarter. Primecap Management Co. CA increased its position in shares of Alkermes PLC by 23.2% in the first quarter. Primecap Management Co. CA now owns 7,856,543 shares of the company’s stock valued at $459,608,000 after buying an additional 1,480,273 shares in the last quarter. Janus Capital Management LLC increased its position in shares of Alkermes PLC by 220.0% in the first quarter. Janus Capital Management LLC now owns 1,658,928 shares of the company’s stock valued at $97,045,000 after buying an additional 1,140,555 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Alkermes PLC by 40.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,857,077 shares of the company’s stock valued at $167,138,000 after buying an additional 820,355 shares in the last quarter. 99.06% of the stock is currently owned by institutional investors and hedge funds.

Alkermes PLC (NASDAQ:ALKS) traded down 1.66% during mid-day trading on Tuesday, reaching $49.29. 132,174 shares of the company’s stock were exchanged. Alkermes PLC has a one year low of $41.93 and a one year high of $63.40. The company’s 50-day moving average is $54.65 and its 200 day moving average is $56.99. The firm’s market capitalization is $7.57 billion.

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About Alkermes PLC

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).

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