Analysts Expect Alkermes plc (NASDAQ:ALKS) Will Post Quarterly Sales of $229.75 Million

Analysts forecast that Alkermes plc (NASDAQ:ALKS) will report sales of $229.75 million for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Alkermes’ earnings. The lowest sales estimate is $206.60 million and the highest is $246.80 million. Alkermes reported sales of $246.22 million in the same quarter last year, which indicates a negative year over year growth rate of 6.7%. The company is scheduled to announce its next quarterly earnings report on Wednesday, May 5th.

On average, analysts expect that Alkermes will report full-year sales of $1.11 billion for the current financial year, with estimates ranging from $1.03 billion to $1.15 billion. For the next fiscal year, analysts expect that the company will report sales of $1.24 billion, with estimates ranging from $1.17 billion to $1.32 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Alkermes.

Alkermes (NASDAQ:ALKS) last issued its quarterly earnings results on Wednesday, February 10th. The company reported $0.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.03. Alkermes had a positive return on equity of 9.35% and a negative net margin of 6.28%. During the same quarter in the prior year, the business posted $0.83 EPS.

A number of brokerages recently issued reports on ALKS. SVB Leerink upped their target price on Alkermes from $18.00 to $23.00 and gave the company a “market perform” rating in a research report on Friday, December 11th. HC Wainwright reissued a “hold” rating on shares of Alkermes in a research report on Tuesday, November 10th. TheStreet raised Alkermes from a “d+” rating to a “c” rating in a research report on Wednesday, December 2nd. Finally, Mizuho increased their price objective on Alkermes from $24.00 to $28.00 in a research report on Thursday, January 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $20.25.

Shares of NASDAQ ALKS traded up $0.17 during trading hours on Thursday, reaching $19.90. The stock had a trading volume of 44,430 shares, compared to its average volume of 1,465,324. The firm has a market cap of $3.17 billion, a price-to-earnings ratio of -42.96, a PEG ratio of 12.74 and a beta of 1.25. The company has a current ratio of 2.71, a quick ratio of 2.39 and a debt-to-equity ratio of 0.25. Alkermes has a fifty-two week low of $11.98 and a fifty-two week high of $23.92. The firm has a 50-day moving average of $21.30 and a 200-day moving average of $18.82.

Hedge funds have recently modified their holdings of the company. Twin Tree Management LP purchased a new position in shares of Alkermes during the 4th quarter worth approximately $26,000. Neo Ivy Capital Management purchased a new position in Alkermes in the 4th quarter valued at approximately $29,000. US Bancorp DE increased its stake in Alkermes by 48.8% in the 3rd quarter. US Bancorp DE now owns 1,759 shares of the company’s stock valued at $29,000 after purchasing an additional 577 shares in the last quarter. Strs Ohio purchased a new position in Alkermes in the 3rd quarter valued at approximately $31,000. Finally, Credit Agricole S A increased 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 valued at $47,000 after purchasing an additional 750 shares in the last quarter. 97.30% of the stock is owned by institutional investors and hedge funds.

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. 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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