Alkermes (ALKS) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Alkermes (ALKS) closed at $28.85, marking a -1.16% move from the previous day. This change lagged the S&P 500's daily gain of 0.14%. At the same time, the Dow added 0.22%, and the tech-heavy Nasdaq gained 0.09%.
Prior to today's trading, shares of the drugmaker had gained 5.19% over the past month. This has outpaced the Medical sector's gain of 1.74% and the S&P 500's loss of 1.27% in that time.
Wall Street will be looking for positivity from Alkermes as it approaches its next earnings report date. The company is expected to report EPS of $0.45, up 2150% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $368.16 million, up 45.89% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.64 per share and revenue of $1.62 billion. These totals would mark changes of +382.35% and +45.95%, respectively, from last year.
Any recent changes to analyst estimates for Alkermes should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Alkermes is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Alkermes is currently trading at a Forward P/E ratio of 17.8. This represents a discount compared to its industry's average Forward P/E of 18.1.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 91, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
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
