Analysts Expect Alkermes PLC (ALKS) Will Post Quarterly Sales of $234.90 Million
Brokerages forecast that Alkermes PLC (NASDAQ:ALKS) will report $234.90 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Alkermes PLC’s earnings, with the highest sales estimate coming in at $236.40 million and the lowest estimate coming in at $233.39 million. Alkermes PLC reported sales of $180.24 million in the same quarter last year, which would suggest a positive year over year growth rate of 30.3%. The business is expected to issue 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 year, with estimates ranging from $888.40 million to $900.00 million. For the next financial year, analysts anticipate that the firm will post sales of $1.05 billion per share, with estimates ranging from $1.02 billion to $1.13 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Alkermes PLC.
Alkermes PLC (NASDAQ:ALKS) last posted its quarterly earnings results on Thursday, July 27th. The company reported $0.01 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.02. Alkermes PLC had a negative net margin of 24.33% and a negative return on equity of 9.12%. The firm had revenue of $218.80 million for the quarter, compared to analysts’ expectations of $216.54 million. During the same quarter in the prior year, the company posted ($0.01) earnings per share. The business’s revenue for the quarter was up 12.1% on a year-over-year basis.
A number of research analysts have recently issued reports on the stock. 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 Saturday, July 1st. BidaskClub downgraded shares of Alkermes PLC from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 9th. ValuEngine downgraded shares of Alkermes PLC from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Jefferies Group LLC set a $69.00 price objective on shares of Alkermes PLC and gave the stock a “buy” rating in a research report on Friday, August 25th. Finally, Leerink Swann downgraded shares of Alkermes PLC from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $68.00 to $61.00 in a research report on Tuesday, June 13th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $64.13.
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In other Alkermes PLC news, CAO Kathryn L. Biberstein sold 13,566 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $51.29, for a total transaction of $695,800.14. Following the sale, the chief accounting officer now owns 70,455 shares of the company’s stock, valued at approximately $3,613,636.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Paul J. Mitchell sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $50.64, for a total transaction of $75,960.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,066 shares of company stock worth $930,280. 5.34% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the company. Toronto Dominion Bank boosted its holdings in shares of Alkermes PLC by 12.7% in the 2nd quarter. Toronto Dominion Bank now owns 1,875 shares of the company’s stock valued at $109,000 after acquiring an additional 212 shares during the last quarter. Daiwa SB Investments Ltd. purchased a new stake in shares of Alkermes PLC in the 2nd quarter valued at $166,000. Greenwood Capital Associates LLC boosted its holdings in shares of Alkermes PLC by 1.1% in the 2nd quarter. Greenwood Capital Associates LLC now owns 3,770 shares of the company’s stock valued at $219,000 after acquiring an additional 41 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Alkermes PLC by 366.4% in the 2nd quarter. US Bancorp DE now owns 3,974 shares of the company’s stock valued at $231,000 after acquiring an additional 3,122 shares during the last quarter. Finally, Insight Capital Research & Management Inc. purchased a new stake in shares of Alkermes PLC in the 2nd quarter valued at $232,000. 99.07% of the stock is currently owned by institutional investors and hedge funds.
Shares of Alkermes PLC (ALKS) opened at 51.09 on Thursday. Alkermes PLC has a 12-month low of $41.93 and a 12-month high of $63.40. The stock’s market cap is $7.85 billion. The stock’s 50 day moving average is $50.96 and its 200-day moving average is $55.93.
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).
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