$234.90 Million in Sales Expected for Alkermes PLC (ALKS) This Quarter
Equities research analysts forecast that Alkermes PLC (NASDAQ:ALKS) will announce $234.90 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Alkermes PLC’s earnings, with the lowest sales estimate coming in at $233.39 million and the highest estimate coming in at $236.40 million. Alkermes PLC posted sales of $180.24 million during the same quarter last year, which would indicate a positive year over year growth rate of 30.3%. The firm is expected to report its next earnings results on Wednesday, November 1st.
On average, analysts expect that Alkermes PLC will report full year sales of $234.90 million for the current fiscal year, with estimates ranging from $888.40 million to $900.00 million. For the next fiscal year, analysts anticipate that the firm will post sales of $1.05 billion per share, with estimates ranging from $1.02 billion to $1.13 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Alkermes PLC.
Alkermes PLC (NASDAQ:ALKS) last issued its quarterly earnings data on Thursday, July 27th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. The business had revenue of $218.80 million for the quarter, compared to analysts’ expectations of $216.54 million. Alkermes PLC had a negative return on equity of 9.12% and a negative net margin of 24.33%. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.01) EPS.
A number of research firms have commented on ALKS. ValuEngine upgraded Alkermes PLC from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Leerink Swann cut Alkermes PLC from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $68.00 to $61.00 in a research note on Tuesday, June 13th. Credit Suisse Group reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Alkermes PLC in a research note on Wednesday, June 7th. Cowen and Company reaffirmed a “buy” rating on shares of Alkermes PLC in a research note on Friday, April 28th. Finally, J P Morgan Chase & Co set a $78.00 price objective on Alkermes PLC and gave the company a “buy” rating in a research note on Saturday, July 1st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $63.00.
In other news, SVP Michael J. Landine sold 10,000 shares of the business’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $57.23, for a total value of $572,300.00. Following the completion of the sale, the senior vice president now directly owns 167,370 shares of the company’s stock, valued at approximately $9,578,585.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul J. Mitchell sold 1,500 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $54.91, for a total value of $82,365.00. Following the completion of the sale, the director now directly owns 9,500 shares of the company’s stock, valued at $521,645. The disclosure for this sale can be found here. Insiders have sold a total of 99,500 shares of company stock valued at $5,776,365 over the last ninety days. 5.34% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of the stock. Daiwa SB Investments Ltd. purchased a new stake in Alkermes PLC during the second quarter valued at $166,000. Greenwood Capital Associates LLC increased its stake in Alkermes PLC by 2.4% in the first quarter. Greenwood Capital Associates LLC now owns 3,729 shares of the company’s stock valued at $218,000 after buying an additional 89 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its stake in Alkermes PLC by 5.9% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 4,053 shares of the company’s stock valued at $222,000 after buying an additional 224 shares in the last quarter. US Bancorp DE increased its stake in Alkermes PLC by 366.4% in the second quarter. US Bancorp DE now owns 3,974 shares of the company’s stock valued at $231,000 after buying an additional 3,122 shares in the last quarter. Finally, Insight Capital Research & Management Inc. bought a new stake in Alkermes PLC during the second quarter valued at approximately $232,000. 97.41% of the stock is owned by institutional investors and hedge funds.
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Alkermes PLC (NASDAQ:ALKS) opened at 52.38 on Thursday. The stock’s 50 day moving average price is $57.10 and its 200 day moving average price is $57.33. The company’s market cap is $8.05 billion. Alkermes PLC has a 52-week low of $41.93 and a 52-week high of $63.40.
About Alkermes PLC
Alkermes plc is a biopharmaceutical company. The Company is engaged in the researching, developing and commercializing pharmaceutical products that are designed to address medical needs of patients in therapeutic areas. The Company has a portfolio of marketed drug products and a clinical pipeline of products that address central nervous system (CNS) disorders, such as schizophrenia, depression, addiction and multiple sclerosis (MS).
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