Equities research analysts expect that Alkermes PLC (NASDAQ:ALKS) will post $239.12 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Alkermes PLC’s earnings. The lowest sales estimate is $237.50 million and the highest is $241.10 million. Alkermes PLC reported sales of $213.51 million in the same quarter last year, which indicates a positive year over year growth rate of 12%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, February 21st.
According to Zacks, analysts expect that Alkermes PLC will report full year sales of $239.12 million for the current financial year, with estimates ranging from $852.40 million to $900.00 million. For the next fiscal year, analysts expect that the business will report sales of $988.96 million per share, with estimates ranging from $886.40 million to $1.07 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Alkermes PLC.
Alkermes PLC (NASDAQ:ALKS) last issued its earnings results on Thursday, October 26th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.04. Alkermes PLC had a negative net margin of 20.12% and a negative return on equity of 7.27%. The firm had revenue of $217.40 million for the quarter, compared to analysts’ expectations of $231.29 million. During the same quarter last year, the company posted ($0.09) earnings per share. Alkermes PLC’s revenue was up 20.6% on a year-over-year basis.
ALKS has been the topic of a number of recent research reports. Mizuho set a $81.00 target price on shares of Alkermes PLC and gave the stock a “buy” rating in a report on Saturday, October 21st. Zacks Investment Research upgraded shares of Alkermes PLC from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. ValuEngine lowered shares of Alkermes PLC from a “hold” rating to a “sell” rating in a research note on Monday, October 23rd. UBS AG set a $54.00 price target on shares of Alkermes PLC and gave the company a “hold” rating in a research note on Friday, October 27th. Finally, Credit Suisse Group dropped their price target on shares of Alkermes PLC from $70.00 to $66.00 and set an “outperform” rating on the stock in a research note on Friday, October 27th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $63.55.
Shares of Alkermes PLC (NASDAQ:ALKS) traded up $0.39 during midday trading on Friday, reaching $48.08. 946,800 shares of the company’s stock were exchanged, compared to its average volume of 833,495. The company has a current ratio of 3.05, a quick ratio of 2.72 and a debt-to-equity ratio of 0.23. Alkermes PLC has a 1 year low of $46.42 and a 1 year high of $63.40.
In other Alkermes PLC news, SVP James M. Frates sold 20,932 shares of Alkermes PLC stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $47.58, for a total value of $995,944.56. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Paul J. Mitchell sold 1,500 shares of Alkermes PLC stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $50.77, for a total transaction of $76,155.00. Following the completion of the transaction, the director now owns 9,500 shares in the company, valued at approximately $482,315. The disclosure for this sale can be found here. In the last 90 days, insiders sold 102,498 shares of company stock worth $5,018,010. 5.34% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of ALKS. Toronto Dominion Bank boosted its stake in Alkermes PLC by 12.7% in the 2nd quarter. Toronto Dominion Bank now owns 1,875 shares of the company’s stock worth $109,000 after purchasing an additional 212 shares during the period. Quantbot Technologies LP acquired a new position in Alkermes PLC in the 3rd quarter worth approximately $126,000. Virtu Financial LLC acquired a new position in Alkermes PLC in the 3rd quarter worth approximately $201,000. Dynamic Technology Lab Private Ltd acquired a new position in Alkermes PLC in the 3rd quarter worth approximately $214,000. Finally, Trexquant Investment LP acquired a new position in Alkermes PLC in the 3rd quarter worth approximately $218,000. 98.11% of the stock is owned by hedge funds and other institutional investors.
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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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