FY2027 Earnings Estimate for Alkermes plc Issued By Leerink Partnrs (NASDAQ:ALKS)

Alkermes plc (NASDAQ:ALKS - Free Report) - Equities research analysts at Leerink Partnrs reduced their FY2027 earnings per share (EPS) estimates for shares of Alkermes in a report issued on Tuesday, April 9th. Leerink Partnrs analyst M. Goodman now forecasts that the company will post earnings per share of $1.35 for the year, down from their prior forecast of $1.45. The consensus estimate for Alkermes' current full-year earnings is $2.23 per share. Leerink Partnrs also issued estimates for Alkermes' FY2028 earnings at $0.89 EPS.

Alkermes (NASDAQ:ALKS - Get Free Report) last released its 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). The company had revenue of $377.50 million for the quarter, compared to analysts' expectations of $362.78 million. Alkermes had a net margin of 21.39% and a return on equity of 16.10%. Alkermes's revenue for the quarter was up 23.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.02) earnings per share.

ALKS has been the topic of several other reports. Robert W. Baird began coverage on Alkermes in a report on Tuesday, March 19th. They issued an "outperform" rating and a $37.00 target price on the stock. UBS Group lowered Alkermes from a "neutral" rating to a "sell" rating and set a $25.00 price target for the company. in a report on Tuesday, February 20th. StockNews.com lowered Alkermes from a "strong-buy" rating to a "buy" rating in a report on Friday, February 23rd. TheStreet upgraded Alkermes from a "c+" rating to a "b" rating in a report on Thursday, February 15th. Finally, Jefferies Financial Group upped their price target on Alkermes from $42.00 to $50.00 and gave the stock a "buy" rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Alkermes has a consensus rating of "Moderate Buy" and a consensus target price of $35.25.

Alkermes Price Performance

Shares of Alkermes stock traded down $1.15 during trading hours on Thursday, hitting $24.99. The company's stock had a trading volume of 2,076,446 shares, compared to its average volume of 1,902,427. The business has a 50 day moving average price of $28.21 and a two-hundred day moving average price of $27.20. Alkermes has a 12-month low of $22.01 and a 12-month high of $33.71. The company has a market cap of $4.23 billion, a PE ratio of 12.53 and a beta of 0.55. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.50 and a current ratio of 2.86.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ALKS. Wellington Management Group LLP lifted its stake in Alkermes by 52.7% in the 3rd quarter. Wellington Management Group LLP now owns 11,746,792 shares of the company's stock worth $329,028,000 after purchasing an additional 4,055,926 shares in the last quarter. RTW Investments LP lifted its stake in Alkermes by 338.8% in the 4th quarter. RTW Investments LP now owns 3,901,523 shares of the company's stock worth $108,228,000 after purchasing an additional 3,012,450 shares in the last quarter. Vanguard Group Inc. lifted its stake in Alkermes by 12.3% in the 4th quarter. Vanguard Group Inc. now owns 20,955,454 shares of the company's stock worth $581,304,000 after purchasing an additional 2,288,185 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in Alkermes in the 1st quarter worth approximately $56,494,000. Finally, Millennium Management LLC lifted its stake in Alkermes by 164.9% in the 4th quarter. Millennium Management LLC now owns 3,427,885 shares of the company's stock worth $89,571,000 after purchasing an additional 2,133,877 shares in the last quarter. 95.21% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Alkermes

In other news, SVP Christian Todd Nichols sold 10,417 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $28.10, for a total transaction of $292,717.70. Following the sale, the senior vice president now directly owns 65,911 shares of the company's stock, valued at approximately $1,852,099.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 4.76% of the company's stock.

Alkermes declared that its board has authorized a share 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 purchase up to 8.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Alkermes Company Profile

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.