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Why Is Alkermes (ALKS) Up 1.7% Since Last Earnings Report?
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It has been about a month since the last earnings report for Alkermes (ALKS - Free Report) . Shares have added about 1.7% in that time frame, underperforming the S&P 500.
But investors have to be wondering, 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 its latest earnings report in order to get a better handle on the important catalysts.
Alkermes Q2 Earnings and Revenues Beat Estimates
Alkermes reported break-even earnings for the second quarter of 2026 against the Zacks Consensus Estimate of a loss of 4 cents per share. The company had recorded earnings of 52 cents per share in the year-ago quarter.
During the second quarter, the company recorded a change in the fair value of contingent consideration of $26.4 million related to the Avadel acquisition contingent value right (CVR) milestone.
Alkermes reported total revenues of $496 million for the second quarter, up almost 27% from the year-ago quarter, driven by higher product sales. The top line beat the Zacks Consensus Estimate of $454 million.
Quarter 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 the 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 34% year over year to $411.7 million during the second quarter, driven by solid demand across the commercial portfolio. Sales of proprietary products were above management’s guided range of $385-$405 million.
Vivitrol sales increased 2.3% year over year to $124.5 million in the reported quarter. The metric beat the Zacks Consensus Estimate of $117 million.
Aristada sales decreased 4.5% year over year to $96.7 million. The figure, however, beat the Zacks Consensus Estimate of $95 million.
Lybalvi generated sales of $94 million, up 11.5% year over year in the reported quarter, due to increased total prescriptions. Its sales, however, missed the Zacks Consensus Estimate of $98 million. Lybalvi’s total prescriptions grew 18% year over year in the quarter.
Newly acquired sleep disorder drug Lumryz recorded revenues worth $96.6 million in the second quarter. The metric beat the Zacks Consensus Estimate of $89 million.
Total manufacturing and royalty revenues increased 1.1% year over year to $84.3 million.
Manufacturing and royalty revenues from Biogen’s multiple sclerosis drug, Vumerity, were $30.6 million. Royalty revenues from Xeplion and certain Invega products were $27.5 million in the second quarter.
Research and development expenses totaled $112.9 million, up around 45.8% year over year.
Selling, general and administrative expenses totaled $217.6 million, up around 27.4% year over year.
As of June 30, 2026, Alkermes had cash and cash equivalents of $691.6 million compared with $538.2 million as of March 31, 2026.
2026 Guidance
Alkermes reiterated its full-year 2026 guidance.
The company expects total revenues in the band of $1.73-$1.84 billion for 2026, unchanged from the previous expectation. Net sales from proprietary products are expected in the range of $390-$410 million in the third quarter.
Net sales of Vivitrol are expected to be in the range 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 range.
Net sales from 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.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed a downward trend in estimates revision.
The consensus estimate has shifted -920% due to these changes.
VGM Scores
Currently, Alkermes has a poor Growth Score of F, a grade with the same score on the momentum front. Charting a somewhat similar path, the stock has a score of D on the value side, putting it in the bottom 40% for value investors.
Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Alkermes has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
View the Zacks #1 Rank List
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Why Is Alkermes (ALKS) Up 1.7% Since Last Earnings Report?
It has been about a month since the last earnings report for Alkermes (ALKS - Free Report) . Shares have added about 1.7% in that time frame, underperforming the S&P 500.
But investors have to be wondering, 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 its latest earnings report in order to get a better handle on the important catalysts.
Alkermes Q2 Earnings and Revenues Beat Estimates
Alkermes reported break-even earnings for the second quarter of 2026 against the Zacks Consensus Estimate of a loss of 4 cents per share. The company had recorded earnings of 52 cents per share in the year-ago quarter.
During the second quarter, the company recorded a change in the fair value of contingent consideration of $26.4 million related to the Avadel acquisition contingent value right (CVR) milestone.
Alkermes reported total revenues of $496 million for the second quarter, up almost 27% from the year-ago quarter, driven by higher product sales. The top line beat the Zacks Consensus Estimate of $454 million.
Quarter 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 the 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 34% year over year to $411.7 million during the second quarter, driven by solid demand across the commercial portfolio. Sales of proprietary products were above management’s guided range of $385-$405 million.
Vivitrol sales increased 2.3% year over year to $124.5 million in the reported quarter. The metric beat the Zacks Consensus Estimate of $117 million.
Aristada sales decreased 4.5% year over year to $96.7 million. The figure, however, beat the Zacks Consensus Estimate of $95 million.
Lybalvi generated sales of $94 million, up 11.5% year over year in the reported quarter, due to increased total prescriptions. Its sales, however, missed the Zacks Consensus Estimate of $98 million. Lybalvi’s total prescriptions grew 18% year over year in the quarter.
Newly acquired sleep disorder drug Lumryz recorded revenues worth $96.6 million in the second quarter. The metric beat the Zacks Consensus Estimate of $89 million.
Total manufacturing and royalty revenues increased 1.1% year over year to $84.3 million.
Manufacturing and royalty revenues from Biogen’s multiple sclerosis drug, Vumerity, were $30.6 million. Royalty revenues from Xeplion and certain Invega products were $27.5 million in the second quarter.
Research and development expenses totaled $112.9 million, up around 45.8% year over year.
Selling, general and administrative expenses totaled $217.6 million, up around 27.4% year over year.
As of June 30, 2026, Alkermes had cash and cash equivalents of $691.6 million compared with $538.2 million as of March 31, 2026.
2026 Guidance
Alkermes reiterated its full-year 2026 guidance.
The company expects total revenues in the band of $1.73-$1.84 billion for 2026, unchanged from the previous expectation. Net sales from proprietary products are expected in the range of $390-$410 million in the third quarter.
Net sales of Vivitrol are expected to be in the range 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 range.
Net sales from 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.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed a downward trend in estimates revision.
The consensus estimate has shifted -920% due to these changes.
VGM Scores
Currently, Alkermes has a poor Growth Score of F, a grade with the same score on the momentum front. Charting a somewhat similar path, the stock has a score of D on the value side, putting it in the bottom 40% for value investors.
Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Alkermes has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.