Alkermes (ALKS) to Release Quarterly Earnings on Thursday

Alkermes (NASDAQ:ALKS) is scheduled to be posting its quarterly earnings results before the market opens on Thursday, October 24th. Analysts expect Alkermes to post earnings of $0.76 per share for the quarter. Alkermes has set its FY 2024 guidance at 2.800-2.800 EPS.

Alkermes (NASDAQ:ALKS) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $0.70 EPS for the quarter, hitting the consensus estimate of $0.70. The company had revenue of $399.13 million for the quarter, compared to the consensus estimate of $393.30 million. Alkermes had a return on equity of 23.20% and a net margin of 19.15%. The company’s revenue for the quarter was down 35.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.38 EPS. 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

NASDAQ:ALKS traded down $0.17 during trading hours on Friday, hitting $28.16. 45,654 shares of the company traded hands, compared to its average volume of 1,816,418. The company has a current ratio of 2.99, a quick ratio of 2.61 and a debt-to-equity ratio of 0.22. Alkermes has a twelve month low of $22.01 and a twelve month high of $32.88. The firm has a 50-day moving average of $27.71 and a 200 day moving average of $25.83. The stock has a market capitalization of $4.77 billion, a price-to-earnings ratio of 11.26, a P/E/G ratio of 0.56 and a beta of 0.46.

Analysts Set New Price Targets

Several equities analysts have commented on ALKS shares. Robert W. Baird upped their price target on Alkermes from $37.00 to $38.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. StockNews.com raised shares of Alkermes from a “hold” rating to a “buy” rating in a report on Sunday, July 28th. HC Wainwright restated a “neutral” rating and issued a $37.00 price objective on shares of Alkermes in a research report on Monday. Cantor Fitzgerald restated an “overweight” rating and set a $48.00 target price on shares of Alkermes in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. upped their target price on shares of Alkermes from $31.00 to $32.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Alkermes currently has a consensus rating of “Moderate Buy” and an average target price of $36.70.

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.