Alkermes (ALKS) Stock Moves -0.84%: What You Should Know
In the latest trading session, Alkermes (ALKS) closed at $29.60, marking a -0.84% move from the previous day. This change was narrower than the S&P 500's 1.22% loss on the day. At the same time, the Dow lost 0.83%, and the tech-heavy Nasdaq lost 1.56%.
Heading into today, shares of the drugmaker had gained 3.93% over the past month, outpacing the Medical sector's loss of 1.11% and the S&P 500's gain of 0.54% in that time.
Investors will be hoping for strength from Alkermes as it approaches its next earnings release. In that report, analysts expect Alkermes to post earnings of $0.45 per share. This would mark year-over-year growth of 2150%. Meanwhile, our latest consensus estimate is calling for revenue of $368.16 million, up 45.89% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.64 per share and revenue of $1.62 billion, which would represent changes of +382.35% and +45.95%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Alkermes. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Alkermes currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Alkermes is currently trading at a Forward P/E ratio of 18.2. For comparison, its industry has an average Forward P/E of 17.29, which means Alkermes is trading at a premium to the group.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 94, putting it in the top 38% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Alkermes plc (ALKS) : Free Stock Analysis Report
