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Alkermes' (ALKS) Q4 Earnings and Revenues Beat Estimates

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Zacks Equity Research
·4 min read
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Alkermes plc. ALKS reported adjusted earnings of 10 cents per share in the fourth quarter of 2020 compared with earnings of 83 cents reported in the year-ago quarter. Earnings beat the Zacks Consensus Estimate of 7 cents.

The company’s revenues of $280 million in the quarter increased 32.2% from the year-ago quarter. The topline beat the Zacks Consensus Estimate of $269 million.

Alkermes’ shares have increased 4.8% in the past year compared with the industry’s growth of 14.3%.

Quarter Details

Total manufacturing and royalty revenues were up 22% year over year to $130.9 million.

Vivitrol sales decreased about 13.8% year over year to $80 million.

Aristada sales came in at $68.9 million, up21.3% year over year.

Research and development (R&D) expenses were $112 million, down 43.4% year over year.

Selling, general and administrative (SG&A) expenses were $145.8 million, down 5.6% year over year.

Full-Year 2020 Results

Alkermes reported adjusted earnings of 43 cents per share in 2020 compared with earnings of 71 cents in 2019. Earnings beat the Zacks Consensus Estimate of39 cents.

The company reported revenues of $1.04 billion in 2020, down from $1.17 billion in 2019. Revenues beat the Zacks Consensus Estimate of $1.03 billion.

Pipeline Updates

In December 2020, the FDA acknowledged receipt of the company's new drug application (NDA) resubmission for Lybalvi (ALKS 3831)and set a target action date of Jun 1, 2021.

In October 2020, the company received positive vote outcomes from the joint meeting of the Psychopharmacologic Drugs Advisory Committee and the Drug Safety and Risk Management Advisory Committee appointed by the FDA, on questions regarding ALKS 3831 for the treatment of adults with schizophrenia and bipolar I disorder. The joint advisory committee's recommendations, while not binding, will be considered by the FDA in its review of the ALKS 3831 NDA. The action date for the NDA is Nov 15, 2021.

2021 Guidance

The company expects total revenues of$1,100-$1,170 million. Vivitrol net sales are expected in the range of $315-$345 million. Aristada net sales are expected to be $260-$290 million. Lybalvi net sales are expected to be less than $10 million.

Earnings are expected between 37-62 cents per share.

Zacks Rank and Stocks to Consider

Currently, Alkermes is a Zacks Rank #3 (Hold) stock.

Some better-ranked stocks in the healthcare sector include Acorda Therapeutics Inc. ACOR, Atea Pharmaceuticals Inc. AVIR and Alexion Pharmaceuticals Inc. ALXN. All of them carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Acorda’s loss per share estimates have narrowed from $9.66 to $8.48 for 2020 and from $9.60 to $7.33 for 2021 over the past 60 days.

Atea’s earnings per share estimates have increased from $3.53 to $3.70 for 2021 over the past 60 days. Shares of the company have increased 189.8% in the past year.

Alexion’s earnings per share estimates have increased from $12.67 to $12.82 for 2021 and from $13.89 to $14.08 for 2022 over the past 60 days. Shares of the company have increased 46.9% in the past year.

Alkermes plc Price, Consensus and EPS Surprise

Alkermes plc Price, Consensus and EPS Surprise
Alkermes plc Price, Consensus and EPS Surprise

Alkermes plc price-consensus-eps-surprise-chart | Alkermes plc Quote

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