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Alkermes (ALKS) Tops Q4 Earnings and Revenues Beat Estimates

Zacks Equity Research
·2-min read

Alkermes Plc. ALKS holds a diversified product portfolio and a promising pipeline of candidates targeting major central nervous system (CNS) disorders including schizophrenia, depression, addiction and multiple sclerosis.Alkermes derives revenues on net sales of its proprietary products – Vivitrol and Aristada, and manufacturing and/or royalty revenues on net sales of products commercialized by the company’s partners.

The company markets Vivitrol whichis used as part of a treatment program for drug or alcohol dependenceand Aristadafor the treatment of schizophrenia.

The company’s track record has been impressive. Over the last four quarters, the company has beaten estimates on all four occasions. Overall, Alkermes has posted an average positive earnings surprise of 236.80% for the trailing four quarters.

We have highlighted some of the key stats from this just-revealed announcement below:

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Earnings: Alkermes surpassed earnings expectations in the fourth quarter of 2019. Our consensus called for EPS of 66 cents, and the company reported EPS of 83 cents.

Revenue: Revenues, also, beat expectations. Alkermes posted revenues of $412.7 million, which beat our consensus estimate of $408 million.

Key Stats: Net sales of proprietary products were $149.6 millionin the quarter, compared to $132.7 million in the year ago quarter.

2020 Guidance: Alkermes expects total revenues to range from $1.03 billion to $1.08 billion.Alkermes expects Vivitrol net sales to range from $340 million to $355 million, and Aristada net sales to range from $220 million to $235 million.It expects adjusted earnings per share to be 25-43 cents. The Zacks Consensus Estimate for earnings in 2020 is pegged at 45 cents, while for sales it is $1.07 billion.

Share Price Impact: Share price was up 1.05% in pre-market trading.

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