Alkermes (ALKS) Set to Announce Quarterly Earnings on Wednesday

Alkermes (NASDAQ:ALKS) is scheduled to release its earnings data before the market opens on Wednesday, May 1st. Analysts expect Alkermes to post earnings of $0.61 per share for the quarter. Persons that are interested in registering for the company’s earnings 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 for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.29). The firm 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 business’s revenue was up 23.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($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 Stock Performance

Shares of NASDAQ:ALKS opened at $24.68 on Monday. The company has a market capitalization of $4.18 billion, a price-to-earnings ratio of 11.92, a P/E/G ratio of 0.68 and a beta of 0.55. The firm’s 50 day simple moving average is $27.30 and its 200 day simple moving average is $26.85. 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 has a fifty-two week low of $22.01 and a fifty-two week high of $33.71.

Alkermes announced that its Board of Directors has authorized a share repurchase plan on Thursday, February 15th that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 8.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ALKS. Bank of America increased their price target on shares of Alkermes from $27.00 to $29.00 and gave the company a “neutral” rating in a research report on Tuesday, January 2nd. Jefferies Financial Group increased their target price on Alkermes from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. TheStreet raised Alkermes from a “c+” rating to a “b” rating in a research note on Thursday, February 15th. StockNews.com cut Alkermes from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 23rd. Finally, Robert W. Baird started coverage on Alkermes in a research note on Tuesday, March 19th. They set an “outperform” rating and a $37.00 target price for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $35.38.

Insider Transactions at Alkermes

In other news, SVP Christian Todd Nichols sold 10,417 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $28.10, for a total transaction of $292,717.70. Following the completion of the transaction, the senior vice president now directly owns 65,911 shares of the company’s stock, valued at approximately $1,852,099.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 4.76% of the company’s stock.

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.