Alkermes (ALKS) Set to Announce Quarterly Earnings on Wednesday

Alkermes (NASDAQ:ALKS) is scheduled to be announcing its earnings results before the market opens on Wednesday, May 1st. Analysts expect the company to announce earnings of $0.61 per share for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

Alkermes (NASDAQ:ALKS) last issued its earnings results on Thursday, February 15th. The company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.29). The business had revenue of $377.50 million for the quarter, compared to the consensus estimate of $362.78 million. Alkermes had a return on equity of 16.10% and a net margin of 21.39%. The company’s quarterly revenue was up 23.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.02) earnings per share. On average, analysts expect Alkermes to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Alkermes Trading Up 1.0 %

Shares of NASDAQ:ALKS opened at $24.68 on Monday. The stock has a market capitalization of $4.18 billion, a price-to-earnings ratio of 11.92, a PEG ratio of 0.68 and a beta of 0.55. Alkermes has a 1-year low of $22.01 and a 1-year high of $33.71. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.50 and a current ratio of 2.86. The company has a 50 day moving average price of $27.30 and a 200 day moving average price of $26.85.

Alkermes announced that its Board of Directors has authorized a share buyback program on Thursday, February 15th that allows the company to buyback $400.00 million in shares. This buyback authorization allows the company to purchase up to 8.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ALKS shares. Piper Sandler restated an “overweight” rating and issued a $39.00 price target on shares of Alkermes in a research report on Monday, April 1st. UBS Group downgraded shares of Alkermes from a “neutral” rating to a “sell” rating and set a $25.00 price target for the company. in a research report on Tuesday, February 20th. Jefferies Financial Group upped their price target on shares of Alkermes from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. StockNews.com downgraded shares of Alkermes from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 23rd. Finally, Bank of America upped their price target on shares of Alkermes from $27.00 to $29.00 and gave the company a “neutral” rating in a research report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $35.38.

Insiders Place Their Bets

In other Alkermes news, SVP Christian Todd Nichols sold 10,417 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $28.10, for a total value of $292,717.70. Following the completion of the sale, the senior vice president now owns 65,911 shares in the company, valued at approximately $1,852,099.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 4.76% of the company’s stock.

About Alkermes

Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in therapeutic areas in the United States, Ireland, and internationally. It has a portfolio of proprietary commercial products for the treatment of alcohol dependence, opioid dependence, schizophrenia and bipolar I disorder and a pipeline of clinical and preclinical product candidates in development for neurological disorders.