Alkermes Plc (ALKS) Expected to Announce Quarterly Sales of $237.73 Million

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Equities research analysts expect Alkermes Plc (NASDAQ:ALKS) to report sales of $237.73 million for the current quarter, Zacks reports. Four analysts have issued estimates for Alkermes’ earnings, with estimates ranging from $227.60 million to $243.61 million. Alkermes posted sales of $217.39 million during the same quarter last year, which suggests a positive year-over-year growth rate of 9.4%. The company is scheduled to issue its next earnings report on Thursday, October 25th.

On average, analysts expect that Alkermes will report full year sales of $1.01 billion for the current fiscal year, with estimates ranging from $1.00 billion to $1.03 billion. For the next year, analysts forecast that the company will post sales of $1.10 billion per share, with estimates ranging from $970.10 million to $1.21 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Alkermes.

Alkermes (NASDAQ:ALKS) last released its quarterly earnings results on Thursday, July 26th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.40. The company had revenue of $304.64 million during the quarter, compared to the consensus estimate of $261.58 million. Alkermes had a negative return on equity of 0.29% and a negative net margin of 13.81%. Alkermes’s revenue was up 39.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.01 earnings per share.

ALKS has been the subject of several recent research reports. BidaskClub raised Alkermes from a “hold” rating to a “buy” rating in a research report on Wednesday, June 13th. B. Riley initiated coverage on Alkermes in a research report on Wednesday, June 6th. They set a “buy” rating and a $60.00 price target for the company. Bank of America initiated coverage on Alkermes in a research report on Friday, May 11th. They set a “buy” rating and a $56.00 price target for the company. Citigroup raised Alkermes from a “neutral” rating to a “buy” rating and set a $62.00 price target for the company in a research report on Wednesday, May 16th. Finally, Zacks Investment Research raised Alkermes from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research report on Wednesday, May 30th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $55.71.

In other news, Director Floyd E. Bloom sold 20,000 shares of the firm’s stock in a transaction on Monday, July 16th. The stock was sold at an average price of $43.95, for a total transaction of $879,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP James M. Frates sold 16,842 shares of the firm’s stock in a transaction on Tuesday, June 12th. The stock was sold at an average price of $50.00, for a total value of $842,100.00. The disclosure for this sale can be found here. Insiders have sold 38,842 shares of company stock worth $1,806,640 in the last 90 days. Insiders own 5.51% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Janus Henderson Group PLC boosted its holdings in Alkermes by 0.9% in the second quarter. Janus Henderson Group PLC now owns 2,037,737 shares of the company’s stock valued at $83,873,000 after acquiring an additional 18,781 shares during the last quarter. First Trust Advisors LP boosted its holdings in Alkermes by 42.8% in the second quarter. First Trust Advisors LP now owns 1,314,188 shares of the company’s stock valued at $54,092,000 after acquiring an additional 393,772 shares during the last quarter. Frontier Capital Management Co. LLC boosted its holdings in Alkermes by 7.4% in the first quarter. Frontier Capital Management Co. LLC now owns 720,866 shares of the company’s stock valued at $41,781,000 after acquiring an additional 49,818 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in Alkermes by 5.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 567,198 shares of the company’s stock valued at $23,346,000 after acquiring an additional 30,410 shares during the last quarter. Finally, Swiss National Bank boosted its holdings in Alkermes by 4.9% in the second quarter. Swiss National Bank now owns 515,300 shares of the company’s stock valued at $21,210,000 after acquiring an additional 24,100 shares during the last quarter.

Alkermes stock traded up $0.01 during mid-day trading on Friday, hitting $44.51. 644,741 shares of the company were exchanged, compared to its average volume of 920,031. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.62 and a current ratio of 2.92. The company has a market capitalization of $6.96 billion, a price-to-earnings ratio of -120.32 and a beta of 1.72. Alkermes has a 12-month low of $39.54 and a 12-month high of $71.22.

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. 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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