Jefferies Financial Group Comments on Alkermes Plc’s FY2020 Earnings (ALKS)

Alkermes Plc (NASDAQ:ALKS) – Stock analysts at Jefferies Financial Group decreased their FY2020 earnings per share estimates for shares of Alkermes in a research note issued to investors on Tuesday, October 23rd. Jefferies Financial Group analyst B. Amin now expects that the company will post earnings per share of $0.37 for the year, down from their prior forecast of $0.42. Jefferies Financial Group also issued estimates for Alkermes’ FY2021 earnings at $1.81 EPS and FY2022 earnings at $2.96 EPS.

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



Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Alkermes in a research report on Sunday, July 8th. Credit Suisse Group decreased their price objective on shares of Alkermes from $57.00 to $51.00 and set a “buy” rating for the company in a research report on Friday, July 27th. Bank of America decreased their price objective on shares of Alkermes from $56.00 to $54.00 and set a “buy” rating for the company in a research report on Friday, July 27th. Zacks Investment Research raised shares of Alkermes from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research report on Wednesday, October 10th. Finally, BidaskClub raised shares of Alkermes from a “hold” rating to a “buy” rating in a research report on Friday, September 28th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. Alkermes currently has an average rating of “Buy” and a consensus target price of $53.83.

Shares of Alkermes stock opened at $41.38 on Friday. The company has a market capitalization of $6.47 billion, a P/E ratio of -111.84 and a beta of 1.72. The company has a quick ratio of 2.62, a current ratio of 2.85 and a debt-to-equity ratio of 0.24. Alkermes has a 52 week low of $37.01 and a 52 week high of $71.22.

Institutional investors and hedge funds have recently bought and sold shares of the business. NumerixS Investment Technologies Inc purchased a new position in Alkermes during the 2nd quarter worth approximately $233,000. Clarus Wealth Advisors raised its position in Alkermes by 46.2% during the 3rd quarter. Clarus Wealth Advisors now owns 5,700 shares of the company’s stock worth $242,000 after buying an additional 1,800 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Alkermes during the 1st quarter worth approximately $333,000. Verition Fund Management LLC purchased a new position in shares of Alkermes during the 1st quarter valued at approximately $363,000. Finally, Arlington Partners LLC purchased a new position in shares of Alkermes during the 3rd quarter valued at approximately $297,000.

In other Alkermes news, Director Paul J. Mitchell sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $42.42, for a total transaction of $42,420.00. Following the completion of the transaction, the director now directly owns 8,000 shares of the company’s stock, valued at approximately $339,360. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 3,000 shares of company stock valued at $130,680 over the last three months. 5.34% of the stock is currently owned by insiders.

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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Earnings History and Estimates for Alkermes (NASDAQ:ALKS)

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