Alkermes Plc (ALKS) Expected to Post Quarterly Sales of $256.80 Million

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Equities research analysts expect Alkermes Plc (NASDAQ:ALKS) to post sales of $256.80 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Alkermes’ earnings. The highest sales estimate is $259.15 million and the lowest is $254.10 million. Alkermes posted sales of $275.37 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 6.7%. The firm is scheduled to announce its next earnings report on Wednesday, February 13th.

On average, analysts expect that Alkermes will report full year sales of $1.04 billion for the current year, with estimates ranging from $1.03 billion to $1.04 billion. For the next financial year, analysts anticipate that the business will report sales of $1.11 billion, with estimates ranging from $958.60 million to $1.22 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Alkermes.

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

ALKS has been the subject of a number of recent research reports. Bank of America cut their target price on Alkermes from $56.00 to $54.00 and set a “buy” rating for the company in a research note on Friday, July 27th. ValuEngine cut Alkermes from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 4th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Alkermes in a research report on Sunday, July 8th. Stifel Nicolaus began coverage on Alkermes in a research report on Monday, August 6th. They issued a “hold” rating and a $45.00 price target on the stock. Finally, BidaskClub cut Alkermes from a “hold” rating to a “sell” rating in a research report on Wednesday, September 19th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $53.82.

Shares of NASDAQ ALKS traded down $0.60 during trading hours on Tuesday, reaching $39.77. The stock had a trading volume of 34,359 shares, compared to its average volume of 828,705. The company has a current ratio of 2.85, a quick ratio of 2.56 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $6.43 billion, a price-to-earnings ratio of -106.68 and a beta of 1.72. Alkermes has a twelve month low of $37.01 and a twelve month high of $71.22.

In other Alkermes news, Director Paul J. Mitchell sold 1,000 shares of the company’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $44.58, for a total value of $44,580.00. Following the sale, the director now directly owns 8,000 shares in the company, valued at $356,640. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 3,000 shares of company stock worth $130,680 over the last quarter. Company insiders own 5.51% of the company’s stock.

A number of large investors have recently made changes to their positions in ALKS. Baird Financial Group Inc. bought a new stake in shares of Alkermes during the first quarter worth $206,000. NumerixS Investment Technologies Inc bought a new stake in shares of Alkermes during the second quarter worth $233,000. Clarus Wealth Advisors grew its holdings in shares of Alkermes by 46.2% during the third quarter. Clarus Wealth Advisors now owns 5,700 shares of the company’s stock worth $242,000 after purchasing an additional 1,800 shares during the last quarter. Arlington Partners LLC bought a new stake in shares of Alkermes during the third quarter worth $297,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Alkermes during the first quarter worth $333,000.

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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