Wall Street analysts expect Alkermes Plc (NASDAQ:ALKS) to post $236.38 million in sales for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Alkermes’ earnings. The highest sales estimate is $243.61 million and the lowest is $227.60 million. Alkermes reported sales of $217.39 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 8.7%. The company is expected to issue its next quarterly earnings results on Thursday, October 25th.

According to Zacks, analysts expect that Alkermes will report full year sales of $1.01 billion for the current financial year, with estimates ranging from $995.16 million to $1.03 billion. For the next financial year, analysts anticipate that the firm will post sales of $1.09 billion, with estimates ranging from $970.10 million to $1.21 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Alkermes.

Alkermes (NASDAQ:ALKS) last posted its quarterly earnings results on Thursday, July 26th. The company reported $0.29 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.40. Alkermes had a negative return on equity of 0.29% and a negative net margin of 13.81%. The firm had revenue of $304.64 million during the quarter, compared to analyst estimates of $261.58 million. During the same period last year, the company earned $0.01 earnings per share. The business’s revenue for the quarter was up 39.2% on a year-over-year basis.

ALKS has been the subject of several research analyst reports. BidaskClub lowered Alkermes from a “buy” rating to a “hold” rating in a research note on Tuesday, September 11th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Alkermes in a research note on Monday, July 2nd. Credit Suisse Group dropped their price objective on Alkermes from $57.00 to $51.00 and set a “buy” rating for the company in a research note on Friday, July 27th. Zacks Investment Research raised Alkermes from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research note on Wednesday. Finally, Stifel Nicolaus initiated coverage on Alkermes in a research note on Monday, August 6th. They set a “hold” rating and a $45.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company’s stock. Alkermes currently has a consensus rating of “Hold” and a consensus target price of $55.43.

Shares of Alkermes stock traded up $0.05 during trading hours on Friday, reaching $41.64. The company had a trading volume of 659,573 shares, compared to its average volume of 882,027. Alkermes has a one year low of $38.23 and a one year high of $71.22. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.92 and a quick ratio of 2.62. The firm has a market capitalization of $6.59 billion, a P/E ratio of -112.54 and a beta of 1.72.

In other Alkermes news, Director Paul J. Mitchell sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $43.68, for a total transaction of $43,680.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Floyd E. Bloom sold 20,000 shares of the firm’s stock in a transaction dated Monday, July 16th. The shares were sold at an average price of $43.95, for a total value of $879,000.00. The disclosure for this sale can be found here. Insiders have sold 23,000 shares of company stock worth $1,009,680 in the last 90 days. Company insiders own 5.51% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of Montreal Can raised its position in Alkermes by 7.9% during the third quarter. Bank of Montreal Can now owns 18,992 shares of the company’s stock valued at $807,000 after purchasing an additional 1,391 shares in the last quarter. Clarus Wealth Advisors increased its holdings in shares of Alkermes by 46.2% in the third 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 period. Rhenman & Partners Asset Management AB increased its holdings in shares of Alkermes by 4.0% in the third quarter. Rhenman & Partners Asset Management AB now owns 301,610 shares of the company’s stock worth $12,800,000 after buying an additional 11,610 shares during the period. United Services Automobile Association increased its holdings in shares of Alkermes by 1.2% in the second quarter. United Services Automobile Association now owns 150,335 shares of the company’s stock worth $6,188,000 after buying an additional 1,775 shares during the period. Finally, Royal London Asset Management Ltd. purchased a new position in shares of Alkermes in the second quarter worth about $2,619,000.

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. 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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