Alkermes (NASDAQ:ALKS – Get Free Report) announced its earnings results on Wednesday. The company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.15), Briefing.com reports. The business had revenue of $350.37 million during the quarter, compared to analyst estimates of $360.26 million. Alkermes had a net margin of 25.17% and a return on equity of 20.31%. The business’s revenue was up 21.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.10) earnings per share. Alkermes updated its FY 2024 guidance to 2.800-2.800 EPS.
Alkermes Stock Performance
NASDAQ:ALKS opened at $24.05 on Friday. The firm’s fifty day simple moving average is $26.73 and its 200-day simple moving average is $26.74. The company has a quick ratio of 2.50, a current ratio of 3.13 and a debt-to-equity ratio of 0.23. The stock has a market cap of $4.07 billion, a PE ratio of 9.51, a price-to-earnings-growth ratio of 0.66 and a beta of 0.61. Alkermes has a fifty-two week low of $22.01 and a fifty-two week high of $33.71.
Insider Activity
In related news, SVP Christian Todd Nichols sold 10,417 shares of the business’s 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 owns 65,911 shares of the company’s stock, valued at $1,852,099.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 4.76% of the company’s stock.
Analyst Ratings Changes
View Our Latest Research Report on Alkermes
Alkermes announced that its Board of Directors has approved a stock repurchase program on Thursday, February 15th that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 8.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
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.
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