Alkermes plc (NASDAQ:ALKS) to Post FY2022 Earnings of ($0.76) Per Share, Cantor Fitzgerald Forecasts

Alkermes plc (NASDAQ:ALKSGet Rating) – Analysts at Cantor Fitzgerald lifted their FY2022 earnings per share estimates for Alkermes in a research report issued to clients and investors on Thursday, April 28th. Cantor Fitzgerald analyst B. Folkes now expects that the company will earn ($0.76) per share for the year, up from their prior estimate of ($0.77). Cantor Fitzgerald currently has a “Overweight” rating and a $32.00 target price on the stock.

Alkermes (NASDAQ:ALKSGet Rating) last announced its quarterly earnings data on Wednesday, April 27th. The company reported $0.12 EPS for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.11. Alkermes had a negative net margin of 5.13% and a positive return on equity of 3.84%. The company had revenue of $278.55 million for the quarter, compared to the consensus estimate of $256.02 million. During the same period in the prior year, the firm posted $0.01 EPS. The company’s quarterly revenue was up 10.8% compared to the same quarter last year.

A number of other brokerages have also recently weighed in on ALKS. Stifel Nicolaus increased their price target on shares of Alkermes from $24.00 to $27.00 in a research note on Wednesday, April 27th. The Goldman Sachs Group initiated coverage on shares of Alkermes in a research note on Wednesday, April 20th. They issued a “buy” rating and a $35.00 target price for the company. SVB Leerink raised their target price on shares of Alkermes from $24.00 to $25.00 and gave the stock a “market perform” rating in a research note on Thursday, April 21st. Zacks Investment Research upgraded shares of Alkermes from a “hold” rating to a “strong-buy” rating and set a $33.00 target price for the company in a research note on Monday, April 25th. Finally, Citigroup raised their target price on shares of Alkermes from $22.00 to $26.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Alkermes has an average rating of “Buy” and a consensus target price of $30.90.

Shares of Alkermes stock opened at $28.85 on Monday. The company has a fifty day simple moving average of $26.79 and a 200-day simple moving average of $25.61. Alkermes has a 12-month low of $21.17 and a 12-month high of $33.00. The company has a current ratio of 2.25, a quick ratio of 1.93 and a debt-to-equity ratio of 0.26. The stock has a market cap of $4.71 billion, a price-to-earnings ratio of -75.92 and a beta of 0.90.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Arizona State Retirement System lifted its position in Alkermes by 1.0% during the third quarter. Arizona State Retirement System now owns 43,706 shares of the company’s stock valued at $1,348,000 after buying an additional 421 shares in the last quarter. Voya Investment Management LLC lifted its position in Alkermes by 0.8% during the third quarter. Voya Investment Management LLC now owns 62,923 shares of the company’s stock valued at $1,940,000 after buying an additional 487 shares in the last quarter. Bailard Inc. lifted its position in Alkermes by 6.1% during the first quarter. Bailard Inc. now owns 10,487 shares of the company’s stock valued at $276,000 after buying an additional 600 shares in the last quarter. HighTower Advisors LLC lifted its position in Alkermes by 3.4% during the third quarter. HighTower Advisors LLC now owns 30,422 shares of the company’s stock valued at $934,000 after buying an additional 1,008 shares in the last quarter. Finally, Iridian Asset Management LLC CT lifted its position in Alkermes by 4.8% during the third quarter. Iridian Asset Management LLC CT now owns 22,731 shares of the company’s stock valued at $701,000 after buying an additional 1,031 shares in the last quarter. 94.37% of the stock is currently owned by institutional investors and hedge funds.

In related news, COO Blair Curtis Jackson sold 49,999 shares of the firm’s stock in a transaction that occurred on Wednesday, April 20th. The shares were sold at an average price of $29.61, for a total value of $1,480,470.39. Following the sale, the chief operating officer now directly owns 87,915 shares of the company’s stock, valued at $2,603,163.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Shane Cooke sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, April 4th. The stock was sold at an average price of $28.18, for a total transaction of $281,800.00. Following the completion of the sale, the director now directly owns 90,478 shares in the company, valued at $2,549,670.04. The disclosure for this sale can be found here. Insiders have sold a total of 104,288 shares of company stock worth $2,977,211 over the last ninety days. 4.63% of the stock is owned by corporate insiders.

About Alkermes (Get Rating)

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, an intramuscular injectable suspension for the treatment of schizophrenia; VIVITROL for the treatment of alcohol and prevention of 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 schizoaffective; and VUMERITY 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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Earnings History and Estimates for Alkermes (NASDAQ:ALKS)

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