Brokerages Anticipate Alkermes plc (NASDAQ:ALKS) Will Announce Quarterly Sales of $272.71 Million

Wall Street analysts expect Alkermes plc (NASDAQ:ALKSGet Rating) to announce $272.71 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Alkermes’ earnings. The lowest sales estimate is $262.00 million and the highest is $282.80 million. Alkermes posted sales of $303.72 million in the same quarter last year, which would indicate a negative year over year growth rate of 10.2%. The business is expected to report its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Alkermes will report full year sales of $1.09 billion for the current financial year, with estimates ranging from $1.06 billion to $1.12 billion. For the next financial year, analysts forecast that the firm will report sales of $1.18 billion, with estimates ranging from $1.10 billion to $1.32 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Alkermes.

Alkermes (NASDAQ:ALKSGet Rating) last released its quarterly earnings results on Wednesday, April 27th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.11. Alkermes had a positive return on equity of 3.87% and a negative net margin of 5.13%. The firm had revenue of $278.55 million for the quarter, compared to the consensus estimate of $256.02 million. During the same quarter last year, the business posted $0.01 EPS. The company’s revenue for the quarter was up 10.8% on a year-over-year basis.

ALKS has been the subject of a number of research analyst reports. Cantor Fitzgerald upgraded Alkermes from a “hold” rating to an “overweight” rating and set a $32.00 price target for the company in a report on Thursday, January 27th. Zacks Investment Research upgraded Alkermes from a “hold” rating to a “strong-buy” rating and set a $33.00 price target for the company in a report on Monday, April 25th. SVB Leerink lifted their price target on Alkermes from $24.00 to $25.00 and gave the stock a “market perform” rating in a report on Thursday, April 21st. HC Wainwright lifted their price target on Alkermes from $30.00 to $32.00 in a report on Thursday, April 28th. Finally, Stifel Nicolaus boosted their price objective on Alkermes from $24.00 to $27.00 in a report on Wednesday, April 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $30.90.

Shares of NASDAQ ALKS traded up $0.31 during mid-day trading on Monday, hitting $26.88. The company had a trading volume of 2,558,293 shares, compared to its average volume of 1,861,241. The company has a market capitalization of $4.39 billion, a PE ratio of -70.74 and a beta of 0.75. The firm has a 50-day simple moving average of $27.48 and a two-hundred day simple moving average of $25.44. The company has a current ratio of 2.19, a quick ratio of 1.86 and a debt-to-equity ratio of 0.27. Alkermes has a one year low of $21.24 and a one year high of $33.00.

In other Alkermes news, Director Shane Cooke sold 10,000 shares of the company’s stock in a transaction on Monday, April 4th. The shares were sold at an average price of $28.18, for a total transaction of $281,800.00. Following the sale, the director now owns 90,478 shares of the company’s stock, valued at $2,549,670.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Craig C. Hopkinson sold 2,306 shares of the company’s stock in a transaction on Friday, February 18th. The shares were sold at an average price of $25.17, for a total transaction of $58,042.02. The disclosure for this sale can be found here. In the last three months, insiders sold 233,035 shares of company stock worth $6,595,865. 4.63% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Morgan Stanley grew its position in shares of Alkermes by 60.2% during the 2nd quarter. Morgan Stanley now owns 866,050 shares of the company’s stock valued at $21,237,000 after acquiring an additional 325,610 shares during the period. Raymond James & Associates grew its position in shares of Alkermes by 79.3% during the 3rd quarter. Raymond James & Associates now owns 15,730 shares of the company’s stock valued at $485,000 after acquiring an additional 6,958 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Alkermes by 1,396.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 97,714 shares of the company’s stock valued at $3,014,000 after acquiring an additional 91,185 shares during the period. Advisor Group Holdings Inc. grew its position in shares of Alkermes by 30.7% during the 3rd quarter. Advisor Group Holdings Inc. now owns 5,516 shares of the company’s stock valued at $171,000 after acquiring an additional 1,295 shares during the period. Finally, Swiss National Bank grew its position in shares of Alkermes by 1.0% during the 3rd quarter. Swiss National Bank now owns 354,500 shares of the company’s stock valued at $10,933,000 after acquiring an additional 3,500 shares during the period. Institutional investors own 98.93% of the company’s stock.

Alkermes Company Profile (Get Rating)

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, an intramuscular injectable suspension for the treatment of schizophrenia; VIVITROL for the treatment of alcohol and prevention of 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 schizoaffective; and VUMERITY 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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