Brokerages Anticipate Alkermes Plc (ALKS) Will Announce Quarterly Sales of $254.82 Million

Analysts expect Alkermes Plc (NASDAQ:ALKS) to post $254.82 million in sales for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Alkermes’ earnings. The highest sales estimate is $259.15 million and the lowest is $248.30 million. Alkermes posted sales of $275.37 million during the same quarter last year, which suggests a negative year over year growth rate of 7.5%. The company is scheduled to report its next earnings results on Wednesday, February 13th.

On average, analysts expect that Alkermes will report full year sales of $1.03 billion for the current financial year, with estimates ranging from $1.03 billion to $1.04 billion. For the next fiscal year, analysts anticipate that the business will post sales of $1.11 billion, with estimates ranging from $958.60 million to $1.20 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Alkermes.

Alkermes (NASDAQ:ALKS) last released its quarterly earnings results on Tuesday, October 23rd. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.15. The business had revenue of $248.72 million for the quarter, compared to analysts’ expectations of $236.70 million. Alkermes had a negative return on equity of 0.12% and a negative net margin of 13.23%. The company’s revenue was up 14.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.03 EPS.

A number of equities research analysts recently weighed in on ALKS shares. BidaskClub cut Alkermes from a “hold” rating to a “sell” rating in a report on Wednesday, September 19th. ValuEngine cut Alkermes from a “hold” rating to a “sell” rating in a report on Monday, November 12th. Zacks Investment Research cut Alkermes from a “buy” rating to a “hold” rating and set a $44.00 price target on the stock. in a report on Monday, November 12th. Leerink Swann started coverage on Alkermes in a report on Monday, November 12th. They issued a “market perform” rating and a $36.00 price target on the stock. Finally, Cowen restated a “buy” rating and issued a $58.00 price target on shares of Alkermes in a report on Tuesday, October 30th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $50.54.

In related news, Director Paul J. Mitchell sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, November 2nd. The stock was sold at an average price of $37.51, for a total value of $37,510.00. Following the sale, the director now owns 8,000 shares of the company’s stock, valued at approximately $300,080. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last ninety days, insiders sold 3,000 shares of company stock worth $124,510. 5.34% of the stock is owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of ALKS. Tower Research Capital LLC TRC lifted its stake in shares of Alkermes by 123.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,908 shares of the company’s stock worth $123,000 after purchasing an additional 1,608 shares during the period. Nordea Investment Management AB purchased a new position in shares of Alkermes during the 3rd quarter worth $183,000. LPL Financial LLC purchased a new position in shares of Alkermes during the 3rd quarter worth $212,000. Crossmark Global Holdings Inc. purchased a new position in shares of Alkermes during the 3rd quarter worth $220,000. Finally, Hsbc Holdings PLC purchased a new position in shares of Alkermes during the 3rd quarter worth $235,000.

Shares of ALKS traded down $0.01 on Friday, reaching $34.34. The stock had a trading volume of 277,409 shares, compared to its average volume of 995,822. The stock has a market cap of $5.34 billion, a P/E ratio of -92.81 and a beta of 1.61. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.85 and a quick ratio of 2.56. Alkermes has a twelve month low of $32.61 and a twelve month high of $71.22.

Alkermes Company Profile

Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in various therapeutic areas in the United States, Ireland, and internationally. The company's marketed products include ARISTADA (aripiprazole lauroxil), an extended-release intramuscular injectable suspension for the treatment of schizophrenia; VIVITROL (naltrexone for extended-release injectable suspension) for the treatment of alcohol and opioid dependence; INVEGA SUSTENNA for the treatment of schizophrenia and schizoaffective disorder; XEPLION, INVEGA TRINZA, and TREVICTA for treating schizophrenia; RISPERDAL CONSTA for the treatment of schizophrenia and bipolar I disorder; AMPYRA (dalfampridine)/FAMPYRA (fampridine) to enhance walking in adults with multiple sclerosis (MS) who have walking disability; and BYDUREON (exenatide extended-release for injectable suspension) and BYDUREON BCise for the treatment of type 2 diabetes.

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