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Alkermes Q1 revenues jump 28% to $392.9M, beating estimates on strong product sales.
Q1 proprietary portfolio sales rise 38%, with Lybalvi, Aristada and Vivitrol driving revenues.
Lumryz adds $39.5M post-acquisition in Q1, while 2026 revenue outlook remains unchanged.
Alkermes plc (ALKS - Free Report) reported a loss of 40 cents per share for the first quarter of 2026, which was narrower than the Zacks Consensus Estimate of a loss of 57 cents. The company had recorded earnings of 13 cents per share in the year-ago quarter.
The company reported total revenues of $392.9 million for the first quarter, which increased 28.2% from the year-ago quarter owing to higher product sales. The top line also beat the Zacks Consensus Estimate of $359 million.
Owing to the better-than-expected first-quarter results, ALKS’ shares were up 6.1% yesterday.
The stock has rallied 29.5% in the year-to-date period against the industry’s decline of 2.4%.
Image Source: Zacks Investment Research
ALKS’ Q1 Earnings in Detail
Alkermes derives revenues from the net sales of its proprietary products — Vivitrol (alcohol and opioid dependence), Aristada (schizophrenia), Lybalvi (schizophrenia and bipolar I disorder) and newly acquired sleep disorder drug, Lumryz. The metric also includes manufacturing and/or royalty revenues on net sales of products commercialized by partners.
Sales of the proprietary products portfolio grew 38.3% year over year to $338.1 million during the first quarter, driven by solid demand across the commercial portfolio. Sales of proprietary products were above management’s guided range of $300-$320 million.
Vivitrol sales increased 11.3% year over year to $112.4 million in the reported quarter. The metric beat the Zacks Consensus Estimate of $103 million.
Aristada sales increased 27.6% year over year to $93.8 million. The figure beat the Zacks Consensus Estimate of $78 million.
Lybalvi generated sales of $92.4 million, up 32% year over year in the reported quarter, due to increased total prescriptions. Its sales beat the Zacks Consensus Estimate of $87 million. Lybalvi’s total prescriptions grew 21% year over year in the quarter.
In February 2026, Alkermes completed the previously announced acquisition of Ireland-based Avadel Pharmaceuticals, which added the latter’s FDA-approved product, Lumryz, to its commercial portfolio.
Lumryz is approved as the first and only once-at-bedtime oxybate for extended-release oral suspension for the treatment of cataplexy or excessive daytime sleepiness in patients aged seven years and older with narcolepsy.
Lumryz recorded revenues worth $39.5 million in the period from Feb. 12, 2026, to March 31, 2026.
Total manufacturing and royalty revenues decreased around 11.6% year over year to $54.8 million.
Manufacturing and royalty revenues from Biogen’s multiple sclerosis drug, Vumerity, were $27.3 million. Royalty revenues from Xeplion and certain Invega products were $18 million in the first quarter.
Research and development expenses totaled $103.3 million, up around 43.9% year over year, owing primarily to higher costs related to the ongoing studies on pipeline candidate, alixorexton.
Selling, general and administrative expenses totaled $264.6 million, up around 54.1% year over year, reflecting higher costs related to the acquisition of Avadel.
As of March 31, 2026, Alkermes had cash and cash equivalents of $538.2 million compared with $1.32 billion as of Dec. 31, 2025.
ALKS’ 2026 Guidance Reiterated
The company expects total revenues in the band of $1.73-$1.84 billion for 2026, unchanged from the previous expectation.
Per management, total revenues are expected to be primarily driven by net sales of proprietary products, including Lumryz sales.
Net sales of Vivitrol are expected to be in the band of $460-$480 million, while Aristada sales are anticipated in the range of $365-$385 million. Lybalvi’s net sales are expected in the $380-$400 million band.
Net sales from the newly acquired sleep disorder drug, Lumryz, are expected to be in the range of $315-$335 million in 2026.
Research and development expenses are anticipated in the range of $445-$485 million. Selling, general and administrative expenses are projected in the range of $890-$930 million.
The company expects adjusted EBITDA to be in the range of $370-$410 million.
Net sales from proprietary products are expected to be $385-$405 million for the second quarter of 2026.
ALKS Recent Pipeline Updates
Alkermes is developing alixorexton, a novel, investigational, oral, selective orexin 2 receptor agonist for the treatment of narcolepsy type 1 (NT1) and narcolepsy type 2 (NT2) and idiopathic hypersomnia (IH).
The company recently initiated the phase III Brilliance studies, evaluating the safety and efficacy of alixorexton versus placebo in adults with NT1 and NT2.
The program consists of three 12-week, placebo-controlled phase III studies evaluating once-daily and split-dose regimens of alixorexton.
Meanwhile, the phase II Vibrance-3 study continues to evaluate alixorexton for treating IH.
Over the past 60 days, estimates for Agenus’ 2026 earnings per share have risen from 54 cents to $1.30, while loss per share estimates for 2027 have narrowed from $1.91 to $1.52 during the same time. AGEN shares have soared 32.8% year to date.
Agenus’ earnings beat estimates in two of the trailing four quarters, while missing the same on the remaining two occasions, with the average surprise being 31.42%.
Over the past 60 days, 2026 loss per share estimates for Castle Biosciences have narrowed from $1.42 to $1.40, while the same for 2027 have narrowed from 79 cents to 78 cents during the same time. CSTL stock has decreased 36.7% year to date.
Castle Biosciences’ earnings beat estimates in three of the trailing four quarters, while missing the same on the remaining occasion, with the average surprise being 34.69%.
Over the past 60 days, 2026 loss per share estimates for Amarin have narrowed from $7.01 to $6.36, while the same for 2027 have narrowed from $5.50 to $4.64 during the same time. AMRN stock has increased 3.9% year to date.
Amarin's earnings beat estimates in three of the trailing four quarters, while missing the same on the remaining occasion, with the average surprise being 50.02%.
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Alkermes' Q1 Earnings & Revenues Beat Estimates, Stock Rises
Key Takeaways
Alkermes plc (ALKS - Free Report) reported a loss of 40 cents per share for the first quarter of 2026, which was narrower than the Zacks Consensus Estimate of a loss of 57 cents. The company had recorded earnings of 13 cents per share in the year-ago quarter.
The company reported total revenues of $392.9 million for the first quarter, which increased 28.2% from the year-ago quarter owing to higher product sales. The top line also beat the Zacks Consensus Estimate of $359 million.
Owing to the better-than-expected first-quarter results, ALKS’ shares were up 6.1% yesterday.
The stock has rallied 29.5% in the year-to-date period against the industry’s decline of 2.4%.
Image Source: Zacks Investment Research
ALKS’ Q1 Earnings in Detail
Alkermes derives revenues from the net sales of its proprietary products — Vivitrol (alcohol and opioid dependence), Aristada (schizophrenia), Lybalvi (schizophrenia and bipolar I disorder) and newly acquired sleep disorder drug, Lumryz. The metric also includes manufacturing and/or royalty revenues on net sales of products commercialized by partners.
Sales of the proprietary products portfolio grew 38.3% year over year to $338.1 million during the first quarter, driven by solid demand across the commercial portfolio. Sales of proprietary products were above management’s guided range of $300-$320 million.
Vivitrol sales increased 11.3% year over year to $112.4 million in the reported quarter. The metric beat the Zacks Consensus Estimate of $103 million.
Aristada sales increased 27.6% year over year to $93.8 million. The figure beat the Zacks Consensus Estimate of $78 million.
Lybalvi generated sales of $92.4 million, up 32% year over year in the reported quarter, due to increased total prescriptions. Its sales beat the Zacks Consensus Estimate of $87 million. Lybalvi’s total prescriptions grew 21% year over year in the quarter.
In February 2026, Alkermes completed the previously announced acquisition of Ireland-based Avadel Pharmaceuticals, which added the latter’s FDA-approved product, Lumryz, to its commercial portfolio.
Lumryz is approved as the first and only once-at-bedtime oxybate for extended-release oral suspension for the treatment of cataplexy or excessive daytime sleepiness in patients aged seven years and older with narcolepsy.
Lumryz recorded revenues worth $39.5 million in the period from Feb. 12, 2026, to March 31, 2026.
Total manufacturing and royalty revenues decreased around 11.6% year over year to $54.8 million.
Manufacturing and royalty revenues from Biogen’s multiple sclerosis drug, Vumerity, were $27.3 million. Royalty revenues from Xeplion and certain Invega products were $18 million in the first quarter.
Research and development expenses totaled $103.3 million, up around 43.9% year over year, owing primarily to higher costs related to the ongoing studies on pipeline candidate, alixorexton.
Selling, general and administrative expenses totaled $264.6 million, up around 54.1% year over year, reflecting higher costs related to the acquisition of Avadel.
As of March 31, 2026, Alkermes had cash and cash equivalents of $538.2 million compared with $1.32 billion as of Dec. 31, 2025.
ALKS’ 2026 Guidance Reiterated
The company expects total revenues in the band of $1.73-$1.84 billion for 2026, unchanged from the previous expectation.
Per management, total revenues are expected to be primarily driven by net sales of proprietary products, including Lumryz sales.
Net sales of Vivitrol are expected to be in the band of $460-$480 million, while Aristada sales are anticipated in the range of $365-$385 million. Lybalvi’s net sales are expected in the $380-$400 million band.
Net sales from the newly acquired sleep disorder drug, Lumryz, are expected to be in the range of $315-$335 million in 2026.
Research and development expenses are anticipated in the range of $445-$485 million. Selling, general and administrative expenses are projected in the range of $890-$930 million.
The company expects adjusted EBITDA to be in the range of $370-$410 million.
Net sales from proprietary products are expected to be $385-$405 million for the second quarter of 2026.
ALKS Recent Pipeline Updates
Alkermes is developing alixorexton, a novel, investigational, oral, selective orexin 2 receptor agonist for the treatment of narcolepsy type 1 (NT1) and narcolepsy type 2 (NT2) and idiopathic hypersomnia (IH).
The company recently initiated the phase III Brilliance studies, evaluating the safety and efficacy of alixorexton versus placebo in adults with NT1 and NT2.
The program consists of three 12-week, placebo-controlled phase III studies evaluating once-daily and split-dose regimens of alixorexton.
Meanwhile, the phase II Vibrance-3 study continues to evaluate alixorexton for treating IH.
Alkermes plc Price, Consensus and EPS Surprise
Alkermes plc price-consensus-eps-surprise-chart | Alkermes plc Quote
ALKS' Zacks Rank & Stocks to Consider
Alkermes currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the biotech sector are Agenus (AGEN - Free Report) , Castle Biosciences (CSTL - Free Report) and Amarin (AMRN - Free Report) , each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Over the past 60 days, estimates for Agenus’ 2026 earnings per share have risen from 54 cents to $1.30, while loss per share estimates for 2027 have narrowed from $1.91 to $1.52 during the same time. AGEN shares have soared 32.8% year to date.
Agenus’ earnings beat estimates in two of the trailing four quarters, while missing the same on the remaining two occasions, with the average surprise being 31.42%.
Over the past 60 days, 2026 loss per share estimates for Castle Biosciences have narrowed from $1.42 to $1.40, while the same for 2027 have narrowed from 79 cents to 78 cents during the same time. CSTL stock has decreased 36.7% year to date.
Castle Biosciences’ earnings beat estimates in three of the trailing four quarters, while missing the same on the remaining occasion, with the average surprise being 34.69%.
Over the past 60 days, 2026 loss per share estimates for Amarin have narrowed from $7.01 to $6.36, while the same for 2027 have narrowed from $5.50 to $4.64 during the same time. AMRN stock has increased 3.9% year to date.
Amarin's earnings beat estimates in three of the trailing four quarters, while missing the same on the remaining occasion, with the average surprise being 50.02%.