Alkermes (ALKS) Set to Announce Quarterly Earnings on Wednesday

Alkermes (NASDAQ:ALKS) is scheduled to be posting its quarterly earnings results before the market opens on Wednesday, May 1st. Analysts expect Alkermes to post earnings of $0.63 per share for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

Alkermes (NASDAQ:ALKS) last issued its quarterly earnings results on Thursday, February 15th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.29). Alkermes had a return on equity of 16.10% and a net margin of 21.39%. The business had revenue of $377.50 million during the quarter, compared to analyst estimates of $362.78 million. During the same quarter last year, the company posted ($0.02) EPS. Alkermes’s quarterly revenue was up 23.9% compared to the same quarter last year. 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 $24.26 on Wednesday. Alkermes has a twelve month low of $22.01 and a twelve month high of $33.71. The company’s 50 day moving average is $27.68 and its 200 day moving average is $26.93. The company has a current ratio of 2.86, a quick ratio of 2.50 and a debt-to-equity ratio of 0.24. The company has a market cap of $4.10 billion, a PE ratio of 11.72, a price-to-earnings-growth ratio of 0.64 and a beta of 0.56.

Alkermes declared that its Board of Directors has authorized a stock buyback program on Thursday, February 15th that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 8.2% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Insider Activity

In other news, SVP Christian Todd Nichols sold 10,417 shares of the 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 approximately $1,852,099.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 4.76% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ALKS shares. Robert W. Baird started coverage on shares of Alkermes in a report on Tuesday, March 19th. They issued an “outperform” rating and a $37.00 price target on the stock. Bank of America increased their price target on shares of Alkermes from $27.00 to $29.00 and gave the stock a “neutral” rating in a report on Tuesday, January 2nd. UBS Group cut shares of Alkermes from a “neutral” rating to a “sell” rating and set a $25.00 price objective on the stock. in a research note on Tuesday, February 20th. TheStreet raised shares of Alkermes from a “c+” rating to a “b” rating in a research note on Thursday, February 15th. Finally, HC Wainwright reaffirmed a “neutral” rating and set a $35.00 price objective on shares of Alkermes in a research note on Friday, April 19th. One investment 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.