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Alkermes (ALKS) Up 3.6% Since Last Earnings Report: Can It Continue?
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A month has gone by since the last earnings report for Alkermes (ALKS - Free Report) . Shares have added about 3.6% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Alkermes due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.
Alkermes reported adjusted earnings of 11 cents per share in the first quarter of 2021 compared with earnings of 1 cent per share reported in the year-ago quarter. The Zacks Consensus Estimate is pegged at a loss of 5 cents.
The company’s revenues of $251.4 million in the quarter increased 2.1% from the year-ago quarter. The top line comprehensively beat the Zacks Consensus Estimate of $228 million.
Quarter in Details
Total manufacturing and royalty revenues were up 3.1% year over year to $119.8 million.
Vivitrol sales decreased about 5.4% year over year to $74.5 million.
Aristada sales came in at $55.4 million, up 8.6% year over year.
Research and development (R&D) expenses were $92.3 million, down 1.1% year over year.
Selling, general and administrative (SG&A) expenses were $125.2 million, down 6.1% year over year.
2021 Guidance
In February 2021, along with the fourth-quarter 2020 earnings release, Alkermes issued financial expectations for 2021. The company has reiterated the financial expectation for the current year.
Alkermes expects total revenues of $1,100-$1,170 million. Vivitrol net sales are expected in the range of $315-$345 million. Aristada net sales are expected to be $260-$290 million. Lybalvi net sales are expected to be less than $10 million.
Earnings are expected between 37-62 cents per share for 2021.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed an upward trend in estimates review. The consensus estimate has shifted 83.33% due to these changes.
VGM Scores
At this time, Alkermes has an average Growth Score of C, however its Momentum Score is doing a lot better with an A. However, the stock was allocated a grade of C on the value side, putting it in the middle 20% for this investment strategy.
Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Alkermes has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
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Alkermes (ALKS) Up 3.6% Since Last Earnings Report: Can It Continue?
A month has gone by since the last earnings report for Alkermes (ALKS - Free Report) . Shares have added about 3.6% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Alkermes due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.
Alkermes' Q1 Earnings Rise Y/Y, Revenues Beat Estimates
Alkermes reported adjusted earnings of 11 cents per share in the first quarter of 2021 compared with earnings of 1 cent per share reported in the year-ago quarter. The Zacks Consensus Estimate is pegged at a loss of 5 cents.
The company’s revenues of $251.4 million in the quarter increased 2.1% from the year-ago quarter. The top line comprehensively beat the Zacks Consensus Estimate of $228 million.
Quarter in Details
Total manufacturing and royalty revenues were up 3.1% year over year to $119.8 million.
Vivitrol sales decreased about 5.4% year over year to $74.5 million.
Aristada sales came in at $55.4 million, up 8.6% year over year.
Research and development (R&D) expenses were $92.3 million, down 1.1% year over year.
Selling, general and administrative (SG&A) expenses were $125.2 million, down 6.1% year over year.
2021 Guidance
In February 2021, along with the fourth-quarter 2020 earnings release, Alkermes issued financial expectations for 2021. The company has reiterated the financial expectation for the current year.
Alkermes expects total revenues of $1,100-$1,170 million. Vivitrol net sales are expected in the range of $315-$345 million. Aristada net sales are expected to be $260-$290 million. Lybalvi net sales are expected to be less than $10 million.
Earnings are expected between 37-62 cents per share for 2021.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed an upward trend in estimates review. The consensus estimate has shifted 83.33% due to these changes.
VGM Scores
At this time, Alkermes has an average Growth Score of C, however its Momentum Score is doing a lot better with an A. However, the stock was allocated a grade of C on the value side, putting it in the middle 20% for this investment strategy.
Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Alkermes has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.