Alkermes (ALKS) Set to Announce Earnings on Wednesday

Alkermes (NASDAQ:ALKS) will issue its quarterly earnings data before the market opens on Wednesday, May 1st. Analysts expect the company to announce earnings of $0.61 per share for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

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

Alkermes Price Performance

Shares of NASDAQ ALKS opened at $24.88 on Tuesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.86 and a quick ratio of 2.50. The stock has a market capitalization of $4.21 billion, a price-to-earnings ratio of 12.02, a PEG ratio of 0.68 and a beta of 0.56. The firm’s 50 day simple moving average is $27.16 and its 200-day simple moving average is $26.83. Alkermes has a 12 month low of $22.01 and a 12 month high of $33.71.

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

Insider Activity

In related news, SVP Christian Todd Nichols sold 10,417 shares of Alkermes stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $28.10, for a total transaction of $292,717.70. Following the transaction, the senior vice president now owns 65,911 shares in the company, valued at $1,852,099.10. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 4.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. StockNews.com downgraded shares of Alkermes from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 23rd. TheStreet upgraded shares of Alkermes from a “c+” rating to a “b” rating in a research report on Thursday, February 15th. Robert W. Baird started coverage on shares of Alkermes in a research report on Tuesday, March 19th. They issued an “outperform” rating and a $37.00 target price on the stock. Piper Sandler restated an “overweight” rating and set a $39.00 price target on shares of Alkermes in a research report on Monday, April 1st. Finally, Bank of America raised their price target on shares of Alkermes from $27.00 to $29.00 and gave the company a “neutral” rating in a research note on Tuesday, January 2nd. One equities 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. According to data from MarketBeat.com, Alkermes has a consensus rating of “Moderate Buy” and a consensus target price of $35.38.

About Alkermes

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.