Alkermes (NASDAQ:ALKS) Issues FY 2020 Pre-Market Earnings Guidance

Alkermes (NASDAQ:ALKS) updated its FY 2020
Pre-Market earnings guidance on Thursday. The company provided EPS guidance of 0.31-0.43 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.10. The company issued revenue guidance of $1.01-1.035 billion, compared to the consensus revenue estimate of $982.45 million.

A number of research firms have commented on ALKS. Bank of America cut their price objective on shares of Alkermes from $21.00 to $19.00 and set a neutral rating for the company in a report on Wednesday, September 30th. HC Wainwright reiterated a hold rating and issued a $23.00 price objective on shares of Alkermes in a report on Thursday, July 30th. The Goldman Sachs Group cut shares of Alkermes from a neutral rating to a sell rating and dropped their price target for the company from $19.00 to $15.00 in a research note on Thursday, July 30th. Mizuho raised shares of Alkermes from a neutral rating to a buy rating and increased their price target for the company from $19.00 to $24.00 in a research note on Thursday, October 15th. Finally, BidaskClub cut shares of Alkermes from a hold rating to a sell rating in a research note on Friday, September 25th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. The company currently has an average rating of Hold and an average target price of $20.64.

NASDAQ:ALKS opened at $15.39 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.59 and a current ratio of 2.95. The stock has a market capitalization of $2.45 billion, a P/E ratio of -19.24 and a beta of 1.30. The company has a 50 day moving average price of $16.88 and a 200 day moving average price of $17.23. Alkermes has a fifty-two week low of $11.98 and a fifty-two week high of $21.88.

Alkermes (NASDAQ:ALKS) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.19. Alkermes had a negative net margin of 10.87% and a positive return on equity of 4.47%. The firm had revenue of $247.53 million during the quarter, compared to analysts’ expectations of $232.70 million. During the same quarter last year, the company posted $0.09 EPS. The firm’s quarterly revenue was down 11.6% on a year-over-year basis. Research analysts forecast that Alkermes will post -0.46 earnings per share for the current fiscal year.

In other Alkermes news, Director David W. Anstice sold 17,832 shares of the firm’s stock in a transaction that occurred on Monday, September 28th. The shares were sold at an average price of $16.79, for a total value of $299,399.28. Following the completion of the transaction, the director now owns 86,213 shares of the company’s stock, valued at approximately $1,447,516.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.49% 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 various therapeutic areas in the United States, Ireland, and internationally. Its 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; RISPERDAL CONSTA for the treatment of schizophrenia and bipolar I disorder; INVEGA SUSTENNA for the treatment of schizophrenia and schizoaffective disorder; XEPLION, INVEGA TRINZA, and TREVICTA for treating schizophrenia; and VUMERITY (diroximel fumarate) for the treatment of relapsing forms of multiple sclerosis in adults, including clinically isolated syndrome, relapsing-remitting and active secondary progressive diseases.

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