Alkermes (ALKS) Announces Quarterly Earnings Results, Beats Estimates By $0.32 EPS

Alkermes (NASDAQ:ALKS) released its quarterly earnings data on Wednesday. The company reported $0.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.32, RTT News reports. Alkermes had a negative net margin of 20.12% and a negative return on equity of 7.27%. The company had revenue of $275.37 million during the quarter, compared to the consensus estimate of $251.23 million. During the same period last year, the firm earned $0.02 EPS. Alkermes’s revenue for the quarter was up 29.0% on a year-over-year basis. Alkermes updated its FY18 guidance to ($0.23-0.03) EPS.

Alkermes (NASDAQ ALKS) traded down $0.67 during trading on Wednesday, hitting $54.69. 1,090,400 shares of the stock traded hands, compared to its average volume of 925,688. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.72 and a current ratio of 3.05. The stock has a market cap of $8,513.03, a PE ratio of -49.27 and a beta of 1.94. Alkermes has a 12-month low of $46.42 and a 12-month high of $64.04.

Several analysts have issued reports on ALKS shares. Credit Suisse Group set a $66.00 target price on shares of Alkermes and gave the stock a “buy” rating in a research note on Tuesday, November 28th. JPMorgan Chase & Co. set a $78.00 target price on shares of Alkermes and gave the stock a “buy” rating in a research note on Friday, October 27th. Zacks Investment Research upgraded shares of Alkermes from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a research note on Monday, January 8th. Mizuho set a $81.00 target price on shares of Alkermes and gave the stock a “buy” rating in a research note on Saturday, October 21st. Finally, BidaskClub upgraded shares of Alkermes from a “sell” rating to a “hold” rating in a research note on Friday, January 26th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Alkermes presently has an average rating of “Hold” and a consensus target price of $64.17.

In other news, insider Shane Cooke sold 72,793 shares of the firm’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $60.55, for a total transaction of $4,407,616.15. Following the sale, the insider now owns 147,501 shares in the company, valued at approximately $8,931,185.55. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Paul J. Mitchell sold 1,000 shares of the firm’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $51.98, for a total transaction of $51,980.00. Following the sale, the director now owns 9,000 shares in the company, valued at approximately $467,820. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 135,485 shares of company stock worth $8,227,502. Corporate insiders own 5.34% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Toronto Dominion Bank raised its position in 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 purchasing an additional 212 shares during the period. The Manufacturers Life Insurance Company raised its position in Alkermes by 7.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,804 shares of the company’s stock worth $336,000 after purchasing an additional 409 shares during the period. CIBC Asset Management Inc raised its position in Alkermes by 12.6% in the 4th quarter. CIBC Asset Management Inc now owns 7,287 shares of the company’s stock worth $399,000 after purchasing an additional 818 shares during the period. Public Employees Retirement Association of Colorado raised its position in Alkermes by 3.2% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 31,504 shares of the company’s stock worth $1,724,000 after purchasing an additional 970 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Alkermes by 4.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,855 shares of the company’s stock worth $1,908,000 after purchasing an additional 1,462 shares during the period. Hedge funds and other institutional investors own 98.89% of the company’s stock.

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About Alkermes

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).

Earnings History for Alkermes (NASDAQ:ALKS)

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