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Why Alkermes (ALKS) Outpaced the Stock Market Today
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The most recent trading session ended with Alkermes (ALKS - Free Report) standing at $29.45, reflecting a +1.76% shift from the previouse trading day's closing. The stock outpaced the S&P 500's daily gain of 1.03%. Meanwhile, the Dow gained 0.34%, and the Nasdaq, a tech-heavy index, added 1.51%.
The drugmaker's shares have seen an increase of 8.39% over the last month, surpassing the Medical sector's gain of 2.1% and the S&P 500's gain of 3.21%.
Market participants will be closely following the financial results of Alkermes in its upcoming release. The company's upcoming EPS is projected at $0.64, signifying a 6300% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $369.21 million, up 28.38% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.62 per share and revenue of $1.52 billion. These totals would mark changes of +11.97% and -8.32%, respectively, from last year.
Investors should also take note of any recent adjustments to analyst estimates for Alkermes. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 21.31% higher. Alkermes currently has a Zacks Rank of #3 (Hold).
From a valuation perspective, Alkermes is currently exchanging hands at a Forward P/E ratio of 11.06. This represents a discount compared to its industry's average Forward P/E of 21.72.
The Medical - Biomedical and Genetics industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 78, placing it within the top 31% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Why Alkermes (ALKS) Outpaced the Stock Market Today
The most recent trading session ended with Alkermes (ALKS - Free Report) standing at $29.45, reflecting a +1.76% shift from the previouse trading day's closing. The stock outpaced the S&P 500's daily gain of 1.03%. Meanwhile, the Dow gained 0.34%, and the Nasdaq, a tech-heavy index, added 1.51%.
The drugmaker's shares have seen an increase of 8.39% over the last month, surpassing the Medical sector's gain of 2.1% and the S&P 500's gain of 3.21%.
Market participants will be closely following the financial results of Alkermes in its upcoming release. The company's upcoming EPS is projected at $0.64, signifying a 6300% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $369.21 million, up 28.38% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.62 per share and revenue of $1.52 billion. These totals would mark changes of +11.97% and -8.32%, respectively, from last year.
Investors should also take note of any recent adjustments to analyst estimates for Alkermes. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 21.31% higher. Alkermes currently has a Zacks Rank of #3 (Hold).
From a valuation perspective, Alkermes is currently exchanging hands at a Forward P/E ratio of 11.06. This represents a discount compared to its industry's average Forward P/E of 21.72.
The Medical - Biomedical and Genetics industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 78, placing it within the top 31% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.