Alkermes (ALKS) Scheduled to Post Quarterly Earnings on Wednesday

Alkermes (NASDAQ:ALKS) is set to post its quarterly earnings results before the market opens on Wednesday, May 1st. Analysts expect Alkermes to post earnings of $0.61 per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

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

Alkermes Stock Performance

Shares of NASDAQ ALKS opened at $24.88 on Tuesday. The stock has a market cap of $4.21 billion, a PE ratio of 12.02, a price-to-earnings-growth ratio of 0.68 and a beta of 0.56. Alkermes has a 1 year low of $22.01 and a 1 year high of $33.71. The firm has a fifty day moving average price of $27.16 and a 200-day moving average price of $26.83. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.86 and a quick ratio of 2.50.

Alkermes declared that its Board of Directors has authorized a stock repurchase program on Thursday, February 15th that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the company to buy up to 8.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

ALKS has been the topic of a number of recent analyst reports. Bank of America raised their price target on Alkermes from $27.00 to $29.00 and gave the company a “neutral” rating in a report on Tuesday, January 2nd. UBS Group lowered shares of Alkermes from a “neutral” rating to a “sell” rating and set a $25.00 price objective for the company. in a report on Tuesday, February 20th. Robert W. Baird started coverage on shares of Alkermes in a report on Tuesday, March 19th. They issued an “outperform” rating and a $37.00 target price on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $39.00 target price on shares of Alkermes in a research note on Monday, April 1st. Finally, TheStreet upgraded shares of Alkermes from a “c+” rating to a “b” rating in a research note on Thursday, February 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Alkermes presently has an average rating of “Moderate Buy” and a consensus price target of $35.38.

Insider Activity at Alkermes

In other news, SVP Christian Todd Nichols sold 10,417 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $28.10, for a total value of $292,717.70. Following the sale, the senior vice president now directly owns 65,911 shares in the company, valued at approximately $1,852,099.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 4.76% of the stock is owned by insiders.

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.