Alkermes (ALKS) Set to Announce Quarterly Earnings on Wednesday

Alkermes (NASDAQ:ALKS) is scheduled to be issuing its quarterly earnings data before the market opens on Wednesday, May 1st. Analysts expect the company to announce earnings of $0.63 per share for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

Alkermes (NASDAQ:ALKS) last posted its quarterly earnings data on Thursday, February 15th. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.29). Alkermes had a return on equity of 16.10% and a net margin of 21.39%. The business had revenue of $377.50 million for the quarter, compared to the consensus estimate of $362.78 million. During the same period in the previous year, the firm earned ($0.02) EPS. The company’s revenue was up 23.9% on a year-over-year basis. On average, analysts expect Alkermes to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Alkermes Trading Up 0.8 %

NASDAQ:ALKS opened at $24.26 on Wednesday. Alkermes has a one year low of $22.01 and a one year high of $33.71. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.86 and a quick ratio of 2.50. The company’s 50-day simple moving average is $27.68 and its 200 day simple moving average is $26.93. The firm has a market capitalization of $4.10 billion, a P/E ratio of 11.72, a PEG ratio of 0.64 and a beta of 0.56.

Alkermes announced that its board has approved a stock repurchase program on Thursday, February 15th that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the company to buy up to 8.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other news, SVP Christian Todd Nichols sold 10,417 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $28.10, for a total transaction of $292,717.70. Following the completion of the transaction, the senior vice president now directly owns 65,911 shares of the company’s stock, valued at $1,852,099.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.76% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ALKS has been the topic of several research reports. Jefferies Financial Group boosted their price objective on shares of Alkermes from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. UBS Group downgraded shares of Alkermes from a “neutral” rating to a “sell” rating and set a $25.00 target price on the stock. in a research note on Tuesday, February 20th. Piper Sandler reiterated an “overweight” rating and issued a $39.00 target price on shares of Alkermes in a research note on Monday, April 1st. StockNews.com downgraded shares of Alkermes from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 23rd. Finally, TheStreet upgraded shares of Alkermes from a “c+” rating to a “b” rating in a research note on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.38.

Alkermes Company Profile

Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in therapeutic areas in the United States, Ireland, and internationally. It has a portfolio of proprietary commercial products for the treatment of alcohol dependence, opioid dependence, schizophrenia and bipolar I disorder and a pipeline of clinical and preclinical product candidates in development for neurological disorders.