Alkermes plc to Post FY2023 Earnings of ($0.56) Per Share, Cantor Fitzgerald Forecasts (NASDAQ:ALKS)

Posted by on Jul 13th, 2023

Alkermes plc (NASDAQ:ALKS – Free Report) – Equities researchers at Cantor Fitzgerald issued their FY2023 earnings estimates for Alkermes in a note issued to investors on Monday, July 10th. Cantor Fitzgerald analyst C. Duncan anticipates that the company will post earnings per share of ($0.56) for the year. Cantor Fitzgerald has a “Overweight” rating on the stock. The consensus estimate for Alkermes’ current full-year earnings is $0.44 per share. Cantor Fitzgerald also issued estimates for Alkermes’ FY2024 earnings at $0.58 EPS.

Alkermes (NASDAQ:ALKS – Get Free Report) last announced its earnings results on Wednesday, April 26th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.09. The company had revenue of $287.60 million for the quarter, compared to the consensus estimate of $284.24 million. Alkermes had a negative return on equity of 5.02% and a negative net margin of 14.65%.

Several other brokerages have also commented on ALKS. Piper Sandler boosted their price target on Alkermes from $35.00 to $37.00 in a research note on Wednesday, June 7th. HC Wainwright upped their target price on Alkermes from $32.00 to $34.00 in a report on Thursday, April 27th. Mizuho lifted their price target on Alkermes from $36.00 to $40.00 in a research note on Wednesday, June 7th. JPMorgan Chase & Co. increased their price objective on shares of Alkermes from $29.00 to $31.00 in a research note on Tuesday, April 25th. Finally, StockNews.com started coverage on shares of Alkermes in a research report on Thursday, May 18th. They set a “strong-buy” rating for the company. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $33.33.

Alkermes Stock Down 0.9 %

ALKS stock opened at $29.96 on Wednesday. The company has a current ratio of 2.25, a quick ratio of 1.88 and a debt-to-equity ratio of 0.29. The company’s 50-day moving average price is $30.80 and its 200 day moving average price is $28.73. Alkermes has a 52 week low of $21.75 and a 52 week high of $33.71. The company has a market cap of $4.98 billion, a P/E ratio of -30.26 and a beta of 0.62.

Hedge Funds Weigh In On Alkermes

A number of institutional investors have recently added to or reduced their stakes in ALKS. TCI Wealth Advisors Inc. raised its stake in shares of Alkermes by 105.4% in the 1st quarter. TCI Wealth Advisors Inc. now owns 908 shares of the company’s stock valued at $26,000 after purchasing an additional 466 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in Alkermes during the second quarter worth about $27,000. Dark Forest Capital Management LP bought a new position in Alkermes in the first quarter worth about $55,000. China Universal Asset Management Co. Ltd. lifted its holdings in Alkermes by 33.4% in the first quarter. China Universal Asset Management Co. Ltd. now owns 2,227 shares of the company’s stock worth $63,000 after acquiring an additional 558 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new position in Alkermes in the first quarter worth about $72,000. Institutional investors and hedge funds own 99.39% of the company’s stock.

Insider Buying and Selling at Alkermes

In related news, Director Nancy Wysenski sold 41,250 shares of the stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $31.24, for a total transaction of $1,288,650.00. Following the transaction, the director now directly owns 15,829 shares in the company, valued at $494,497.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Cato T. Laurencin sold 2,800 shares of the stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $31.50, for a total value of $88,200.00. Following the completion of the sale, the director now directly owns 7,479 shares in the company, valued at approximately $235,588.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Nancy Wysenski sold 41,250 shares of the stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $31.24, for a total transaction of $1,288,650.00. Following the completion of the sale, the director now directly owns 15,829 shares of the company’s stock, valued at approximately $494,497.96. The disclosure for this sale can be found here. In the last three months, insiders sold 71,184 shares of company stock worth $2,161,837. Insiders own 4.76% of the company’s stock.

Alkermes Company Profile

(Get Free Report)

Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in the fields of neuroscience and oncology in the United States, Ireland, and internationally. It has a portfolio of proprietary commercial products focused on alcohol dependence, opioid dependence, schizophrenia and bipolar I disorder and a pipeline of product candidates in development for neurological disorders and cancer.

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Earnings History and Estimates for Alkermes (NASDAQ:ALKS)

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