Zacks: Analysts Expect Alkermes plc (NASDAQ: ALKS) to Report Earnings Per Share of $ 0.12
Brokerages expect Alkermes plc (NASDAQ: ALKS) to report earnings per share of $ 0.12 for the current quarter, according to Zacks Investment Research. Four analysts estimated Alkermes’ profit, with the highest estimate of EPS at $ 0.24 and the lowest estimate at $ 0.03. Alkermes posted earnings per share of $ 0.26 in the same quarter last year, suggesting a negative year-over-year growth rate of 53.8%. The company is expected to release its next results on Thursday, November 4.
According to Zacks, analysts expect Alkermes to report annual profit of $ 0.67 per share for the current fiscal year, with EPS estimates ranging from $ 0.61 to $ 0.92. For next year, analysts predict the company will report earnings of $ 1.25 per share, with EPS estimates ranging from $ 0.94 to $ 1.44. Zacks EPS Averages is an average based on a survey of research analysts who follow Alkermes.
Alkermes (NASDAQ: ALKS) last reported its quarterly results on Tuesday, July 27. The company reported earnings per share of $ 0.30 for the quarter, beating the consensus estimate of $ 0.12 by $ 0.18. The company posted revenue of $ 303.72 million for the quarter, compared to $ 277.83 million expected by analysts. Alkermes posted a negative net margin of 5.71% and a positive return on equity of 3.21%.
Several analysts recently published reports on the stock. Mizuho reaffirmed a “buy” note and issued a price target of $ 36.00 (vs. $ 33.00) on Alkermes shares in a report released on Friday, September 10. Bank of America downgraded Alkermes shares from a “neutral” to an “underperforming” rating and raised its price target for the company from $ 25.00 to $ 27.00 in a report released on Thursday, September 2. They noted that the move was an appraisal call. Jefferies Financial Group upgraded Alkermes shares from a “hold” rating to a “buy” rating and set a target price of $ 36.00 on the stock in a report released on Wednesday, October 6. Zacks Investment Research upgraded Alkermes shares from a “hold” rating to a “strong buy” rating and set a target price of $ 37.00 on the stock in a report released on Monday, October 11. Finally, SVB Leerink increased its price target on Alkermes shares from $ 23.00 to $ 25.00 and assigned the company a “market performance” rating in a report released Thursday, July 29. One research analyst rated the stock with a sell rating, two gave the stock a conservation rating, two gave the stock a buy rating, and one gave the stock a strong buy rating. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $ 31.00.
Shares of ALKS traded down $ 1.36 on Monday, reaching $ 30.31. 47,364 shares of the stock traded for an average volume of 1,574,579. The company’s 50-day moving average price is $ 30.50 and its two-hundred-day moving average price is 25.71 $. The company has a debt ratio of 0.27, a quick ratio of 2.35, and a current ratio of 2.71. The stock has a market cap of $ 4.89 billion, a PE ratio of -76.50, a PEG ratio of 10.32 and a beta of 0.97. Alkermes has a twelve month minimum of $ 15.35 and a twelve month maximum of $ 33.00.
In addition, director Emily Peterson Alva bought 1,650 shares of the company in a transaction that took place on Monday 23 August. The shares were purchased at an average cost of $ 30.22 per share, for a total transaction of $ 49,863.00. Following the purchase, the director now owns 1,650 shares of the company, valued at $ 49,863. The acquisition was disclosed in a filing with the SEC, which is available through this link. In addition, Executive Vice President David Joseph Gaffin sold 14,000 shares of the company in a transaction that took place on Thursday, July 29. The stock was sold at an average price of $ 26.00, for a total transaction of $ 364,000.00. Following the sale, the Senior Vice President now owns 88,597 shares of the company, valued at $ 2,303,522. Disclosure of this sale can be found here. 4.63% of the shares are held by insiders of the company.
A number of institutional investors and hedge funds have recently changed their positions in the stock. Berman Capital Advisors LLC increased its stake in Alkermes by 42.9% in the third quarter. Berman Capital Advisors LLC now owns 1,175 shares of the company valued at $ 36,000 after purchasing an additional 353 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Alkermes by 0.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 70,437 shares of the company valued at $ 1,727,000 after purchasing an additional 604 shares during the last quarter. Hanseatic Management Services Inc. acquired a new position in Alkermes in the third quarter valued at approximately $ 29,000. Teacher Retirement System of Texas increased its holdings in Alkermes by 17.5% in the second quarter. Teacher Retirement System of Texas now owns 20,923 shares of the company valued at $ 513,000 after purchasing an additional 3,117 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its holdings in Alkermes shares by 27.1% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 16,144 shares of the company valued at $ 322,000 after acquiring 3,444 additional shares during the period.
Alkermes Plc is a biopharmaceutical company dedicated to the development, research and commercialization of drugs designed to meet the unmet medical needs of patients in key therapeutic areas. Its products include Aristada, which is used for the treatment of schizophrenia in adults; and Vivitrol, which is an injectable drug for the treatment of alcohol dependence and for the prevention of relapse into opioid dependence after opioid detoxification.
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