Alkermes PLC (NASDAQ:ALKS) Issues FY17 Earnings Guidance

Alkermes PLC (NASDAQ:ALKS) updated its FY17 earnings guidance on Thursday. The company provided earnings per share guidance of ($0.10) – $0.10 for the period, compared to the Thomson Reuters consensus earnings per share estimate of ($0.04). The company issued revenue guidance of $850-880 million, compared to the consensus revenue estimate of $893.66 million.

A number of analysts have recently weighed in on the stock. Barclays PLC set a $50.00 target price on shares of Alkermes PLC and gave the stock a hold rating in a research report on Thursday, October 26th. ValuEngine downgraded shares of Alkermes PLC from a hold rating to a sell rating in a research report on Monday, October 23rd. J P Morgan Chase & Co set a $78.00 price objective on shares of Alkermes PLC and gave the company a buy rating in a research report on Friday, October 27th. Citigroup Inc. set a $62.00 price objective on shares of Alkermes PLC and gave the company a hold rating in a research report on Thursday, October 26th. Finally, Jefferies Group LLC set a $69.00 price objective on shares of Alkermes PLC and gave the company a buy rating in a research report on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $63.55.

Shares of Alkermes PLC (NASDAQ:ALKS) opened at $47.85 on Friday. Alkermes PLC has a one year low of $46.80 and a one year high of $63.40. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.05 and a quick ratio of 2.72.

Alkermes PLC (NASDAQ:ALKS) last released its earnings results on Thursday, October 26th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $217.40 million for the quarter, compared to analysts’ expectations of $231.29 million. During the same quarter last year, the business earned ($0.09) EPS. The firm’s revenue was up 20.6% compared to the same quarter last year. sell-side analysts expect that Alkermes PLC will post -0.59 earnings per share for the current year.

In other Alkermes PLC news, Director Paul J. Mitchell sold 1,500 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $50.77, for a total transaction of $76,155.00. Following the completion of the sale, the director now directly owns 9,500 shares of the company’s stock, valued at approximately $482,315. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP James M. Frates sold 20,932 shares of the stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $47.58, for a total transaction of $995,944.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 102,498 shares of company stock valued at $5,018,010. Insiders own 5.34% of the company’s stock.

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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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