Zacks: Analysts Anticipate Alkermes plc (NASDAQ:ALKS) Will Announce Quarterly Sales of $278.60 Million

Wall Street brokerages expect Alkermes plc (NASDAQ:ALKS) to report sales of $278.60 million for the current quarter, according to Zacks. Five analysts have made estimates for Alkermes’ earnings, with estimates ranging from $274.20 million to $285.30 million. Alkermes posted sales of $247.53 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 12.6%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, August 4th.

According to Zacks, analysts expect that Alkermes will report full year sales of $1.15 billion for the current year, with estimates ranging from $1.13 billion to $1.17 billion. For the next year, analysts forecast that the firm will report sales of $1.26 billion, with estimates ranging from $1.19 billion to $1.31 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Alkermes.

Alkermes (NASDAQ:ALKS) last posted its earnings results on Tuesday, April 27th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.13. The business had revenue of $251.43 million during the quarter, compared to the consensus estimate of $233.78 million. Alkermes had a negative net margin of 9.06% and a negative return on equity of 0.15%. The firm’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.01 EPS.

Several brokerages have issued reports on ALKS. HC Wainwright raised their target price on Alkermes from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 2nd. Mizuho reissued a “buy” rating and issued a $29.00 price objective on shares of Alkermes in a report on Tuesday, June 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $22.20.

In other Alkermes news, SVP Michael J. Landine sold 19,477 shares of the firm’s stock in a transaction that occurred on Friday, May 7th. The shares were sold at an average price of $22.10, for a total transaction of $430,441.70. Following the sale, the senior vice president now owns 236,258 shares in the company, valued at approximately $5,221,301.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Craig C. Hopkinson sold 28,920 shares of Alkermes stock in a transaction that occurred on Thursday, April 15th. The shares were sold at an average price of $19.72, for a total transaction of $570,302.40. The disclosure for this sale can be found here. Insiders sold 529,147 shares of company stock worth $11,472,260 in the last ninety days. Corporate insiders own 4.63% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Nicollet Investment Management Inc. lifted its position in shares of Alkermes by 1.9% in the fourth quarter. Nicollet Investment Management Inc. now owns 26,772 shares of the company’s stock valued at $534,000 after acquiring an additional 490 shares in the last quarter. US Bancorp DE lifted its holdings in Alkermes by 18.2% in the 1st quarter. US Bancorp DE now owns 4,278 shares of the company’s stock worth $80,000 after purchasing an additional 658 shares in the last quarter. Credit Agricole S A boosted its stake in Alkermes by 46.9% in the 4th quarter. Credit Agricole S A now owns 2,350 shares of the company’s stock worth $47,000 after purchasing an additional 750 shares during the period. Twin Tree Management LP purchased a new stake in Alkermes during the 4th quarter valued at approximately $26,000. Finally, Neo Ivy Capital Management bought a new stake in shares of Alkermes during the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 97.36% of the company’s stock.

Shares of ALKS traded up $0.45 during trading hours on Friday, hitting $25.15. The stock had a trading volume of 2,387,094 shares, compared to its average volume of 1,524,176. The company has a market cap of $4.04 billion, a price-to-earnings ratio of -41.65 and a beta of 0.98. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.75 and a quick ratio of 2.38. Alkermes has a 12 month low of $15.35 and a 12 month high of $25.30. The firm has a fifty day moving average price of $21.48.

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. 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 to treat 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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