Zacks: Brokerages Anticipate Alkermes Plc (NASDAQ:ALKS) Will Post Earnings of -$0.39 Per Share

Share on StockTwits

Analysts expect Alkermes Plc (NASDAQ:ALKS) to post ($0.39) earnings per share for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for Alkermes’ earnings, with the lowest EPS estimate coming in at ($0.46) and the highest estimate coming in at ($0.30). Alkermes reported earnings of ($0.08) per share during the same quarter last year, which indicates a negative year-over-year growth rate of 387.5%. The company is expected to issue its next earnings results on Tuesday, October 22nd.

According to Zacks, analysts expect that Alkermes will report full-year earnings of ($0.39) per share for the current fiscal year, with EPS estimates ranging from ($0.47) to ($0.33). For the next financial year, analysts expect that the business will post earnings of ($0.88) per share, with EPS estimates ranging from ($1.98) to ($0.57). Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover Alkermes.

Alkermes (NASDAQ:ALKS) last released its quarterly earnings results on Thursday, July 25th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.26) by $0.20. Alkermes had a negative net margin of 17.10% and a negative return on equity of 4.13%. The company had revenue of $279.90 million during the quarter, compared to the consensus estimate of $251.40 million. During the same period in the prior year, the firm earned $0.29 earnings per share. Alkermes’s revenue was down 8.1% on a year-over-year basis.

ALKS has been the subject of a number of analyst reports. HC Wainwright initiated coverage on shares of Alkermes in a research note on Friday, May 31st. They set a “neutral” rating and a $28.00 target price for the company. Piper Jaffray Companies cut their price target on shares of Alkermes from $30.00 to $22.00 and set a “neutral” rating on the stock in a report on Thursday, July 25th. Zacks Investment Research cut shares of Alkermes from a “buy” rating to a “hold” rating and set a $26.00 price target on the stock. in a report on Friday, July 19th. Morgan Stanley upgraded shares of Alkermes from an “underweight” rating to an “equal” rating and cut their price target for the company from $30.00 to $20.00 in a report on Thursday, September 5th. Finally, ValuEngine upgraded shares of Alkermes from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $28.45.

Shares of NASDAQ ALKS traded up $0.53 on Monday, reaching $22.83. 771,410 shares of the company’s stock traded hands, compared to its average volume of 1,145,336. Alkermes has a 12 month low of $19.36 and a 12 month high of $45.16. The business’s 50 day simple moving average is $21.31 and its two-hundred day simple moving average is $26.49. The company has a market cap of $3.55 billion, a price-to-earnings ratio of -326.14 and a beta of 1.82. The company has a quick ratio of 2.69, a current ratio of 2.98 and a debt-to-equity ratio of 0.25.

In related news, CEO Richard F. Pops sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $20.18, for a total value of $2,018,000.00. Following the sale, the chief executive officer now owns 816,433 shares in the company, valued at $16,475,617.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.71% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC boosted its stake in shares of Alkermes by 139.7% during the 2nd quarter. Renaissance Technologies LLC now owns 3,950,586 shares of the company’s stock worth $89,046,000 after acquiring an additional 2,302,600 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Alkermes by 10.4% during the 2nd quarter. BlackRock Inc. now owns 11,137,923 shares of the company’s stock worth $251,050,000 after acquiring an additional 1,052,841 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Alkermes by 70.4% during the 2nd quarter. AQR Capital Management LLC now owns 2,375,998 shares of the company’s stock worth $53,080,000 after acquiring an additional 981,355 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Alkermes by 3.6% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 20,275,957 shares of the company’s stock worth $457,020,000 after acquiring an additional 697,027 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of Alkermes by 29.1% during the 1st quarter. First Trust Advisors LP now owns 2,906,860 shares of the company’s stock worth $106,071,000 after acquiring an additional 655,873 shares during the last quarter. Institutional investors own 95.90% of the company’s stock.

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; 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 AMPYRA (dalfampridine)/FAMPYRA (fampridine) to enhance walking in adults with multiple sclerosis (MS) who have walking disability.

Featured Article: Compound Interest and Why It Matters When Investing

Get a free copy of the Zacks research report on Alkermes (ALKS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Alkermes (NASDAQ:ALKS)

Receive News & Ratings for Alkermes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alkermes and related companies with MarketBeat.com's FREE daily email newsletter.