Alkermes Plc (ALKS) Expected to Post Quarterly Sales of $247.52 Million

Brokerages expect Alkermes Plc (NASDAQ:ALKS) to post sales of $247.52 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Alkermes’ earnings. The lowest sales estimate is $237.50 million and the highest is $263.96 million. Alkermes reported sales of $213.51 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 15.9%. The firm is expected to report its next quarterly earnings results on Wednesday, February 21st.

According to Zacks, analysts expect that Alkermes will report full year sales of $247.52 million for the current fiscal year, with estimates ranging from $852.40 million to $893.00 million. For the next year, analysts forecast that the business will report sales of $983.51 million per share, with estimates ranging from $886.40 million to $1.02 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Alkermes.

Alkermes (NASDAQ:ALKS) last issued its earnings results on Thursday, October 26th. The company reported $0.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.04. The firm had revenue of $217.40 million for the quarter, compared to the consensus estimate of $231.29 million. Alkermes had a negative return on equity of 7.27% and a negative net margin of 20.12%. The company’s revenue was up 20.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.09) EPS.

Several equities research analysts recently weighed in on ALKS shares. BidaskClub downgraded Alkermes from a “hold” rating to a “sell” rating in a report on Saturday. Credit Suisse Group cut their price objective on Alkermes from $70.00 to $66.00 and set an “outperform” rating on the stock in a report on Friday, October 27th. Barclays set a $50.00 price objective on Alkermes and gave the company a “hold” rating in a report on Thursday, October 26th. Citigroup set a $62.00 price objective on Alkermes and gave the company a “hold” rating in a report on Thursday, October 26th. Finally, Zacks Investment Research raised Alkermes from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a report on Monday, January 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $63.33.

In other Alkermes news, SVP James M. Frates sold 20,932 shares of Alkermes stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $47.58, for a total transaction of $995,944.56. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Michael J. Landine sold 15,000 shares of Alkermes stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $48.71, for a total value of $730,650.00. Following the transaction, the senior vice president now directly owns 178,693 shares in the company, valued at $8,704,136.03. The disclosure for this sale can be found here. Insiders have sold a total of 142,624 shares of company stock worth $7,633,176 over the last ninety days. Company insiders own 5.34% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in ALKS. Toronto Dominion Bank raised its position in shares of Alkermes by 12.7% in the 2nd quarter. Toronto Dominion Bank now owns 1,875 shares of the company’s stock worth $109,000 after acquiring an additional 212 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Alkermes in the 3rd quarter worth about $126,000. Virtu Financial LLC bought a new position in shares of Alkermes in the 3rd quarter worth about $201,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Alkermes in the 3rd quarter worth about $214,000. Finally, Trexquant Investment LP bought a new position in shares of Alkermes in the 3rd quarter worth about $218,000. 99.20% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Alkermes (NASDAQ:ALKS) traded up $0.91 during mid-day trading on Monday, hitting $57.03. The company’s stock had a trading volume of 716,700 shares, compared to its average volume of 936,015. The firm has a market cap of $8,910.00, a P/E ratio of -51.38 and a beta of 2.13. Alkermes has a 52-week low of $46.42 and a 52-week high of $63.40. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.72 and a current ratio of 3.05.

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Alkermes 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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Earnings History and Estimates for Alkermes (NASDAQ:ALKS)

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