Alkermes (ALKS) Stock Dips While Market Gains: Key Facts
Alkermes (ALKS) closed at $26.94 in the latest trading session, marking a -0.41% move from the prior day. This change lagged the S&P 500's daily gain of 1.25%. On the other hand, the Dow registered a gain of 0.97%, and the technology-centric Nasdaq increased by 1.3%.
Prior to today's trading, shares of the drugmaker had lost 5.65% over the past month. This has lagged the Medical sector's gain of 1.52% and the S&P 500's gain of 1.58% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Alkermes in its upcoming earnings disclosure. The company is expected to report EPS of $0.43, up 207.14% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $361.24 million, indicating a 18.57% growth compared to the corresponding quarter of the prior year.
Investors might also notice recent changes to analyst estimates for Alkermes. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 5.39% higher. As of now, Alkermes holds a Zacks Rank of #3 (Hold).
From a valuation perspective, Alkermes is currently exchanging hands at a Forward P/E ratio of 11.52. Its industry sports an average Forward P/E of 20.86, so one might conclude that Alkermes is trading at a discount comparatively.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 95, putting it in the top 38% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Alkermes plc (ALKS) : Free Stock Analysis Report
