Alkermes (ALKS) Dips More Than Broader Market: What You Should Know
Alkermes (ALKS) closed at $27.18 in the latest trading session, marking a -1.74% move from the prior day. The stock trailed the S&P 500, which registered a daily loss of 1.34%. Elsewhere, the Dow lost 0.98%, while the tech-heavy Nasdaq lost 1.62%.
Shares of the drugmaker have depreciated by 7.52% over the course of the past month, underperforming the Medical sector's loss of 2.87% and the S&P 500's loss of 1.57%.
Market participants will be closely following the financial results of Alkermes in its upcoming release. In that report, analysts expect Alkermes to post earnings of $0.44 per share. This would mark year-over-year growth of 2100%. Meanwhile, the latest consensus estimate predicts the revenue to be $366.18 million, indicating a 45.1% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.63 per share and revenue of $1.62 billion, which would represent changes of +379.41% and +45.63%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Alkermes. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.51% decrease. Alkermes presently features a Zacks Rank of #4 (Sell).
Digging into valuation, Alkermes currently has a Forward P/E ratio of 16.97. This represents no noticeable deviation compared to its industry's average Forward P/E of 16.97.
The Medical - Biomedical and Genetics industry is part of the Medical sector. With its current Zacks Industry Rank of 82, this industry ranks in the top 33% of all industries, numbering over 250.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Alkermes plc (ALKS) : Free Stock Analysis Report
