Alkermes (ALKS) Outperforms Broader Market: What You Need to Know
In the latest trading session, Alkermes (ALKS) closed at $27.92, marking a +1.34% move from the previous day. The stock's change was more than the S&P 500's daily gain of 0.17%. On the other hand, the Dow registered a loss of 0.05%, and the technology-centric Nasdaq increased by 0.2%.
The the stock of drugmaker has risen by 13% in the past month, leading the Medical sector's gain of 4.54% and the S&P 500's gain of 4.71%.
Analysts and investors alike will be keeping a close eye on the performance of Alkermes in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $0.41, reflecting a 192.86% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $366.38 million, reflecting a 20.25% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $1.56 per share and a revenue of $1.65 billion, demonstrating changes of +358.82% and +48.01%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Alkermes. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 past month, there's been a 1.88% fall in the Zacks Consensus EPS estimate. As of now, Alkermes holds a Zacks Rank of #3 (Hold).
Looking at valuation, Alkermes is presently trading at a Forward P/E ratio of 17.66. Its industry sports an average Forward P/E of 17.66, so one might conclude that Alkermes is trading at no noticeable deviation comparatively.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 68, which puts it in the top 27% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Alkermes plc (ALKS) : Free Stock Analysis Report
