Alkermes (ALKS) closed the latest trading day at $26.70, indicating a -1.26% change from the previous session's end. The stock's performance was behind the S&P 500's daily gain of 0.82%. Elsewhere, the Dow saw an upswing of 0.41%, while the tech-heavy Nasdaq appreciated by 0.95%.The drugmaker's stock has dropped by 6.69% in the past month, falling short of the Medical sector's gain of 3.2% and the S&P 500's gain of 5.59%.Analysts and investors alike will be keeping a close eye on the performance of Alkermes ...

The quest for prime biotech stocks for gains will always be relevant. Moreover, 2024 promises a surge in technology and science, positioning biotech firms at the forefront of novel medical breakthroughs. Grand View Research underscores this optimism, projecting a robust 13.96% CAGR for the biotech market from 2024 to 2030. Fueling this growth is an expanding clinical trial pipeline and robust regulatory backing for startups.Moreover, strides in DNA sequencing, mRNA, and cell-based assays signal a burgeoning ...

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 ...

Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? Alkermes (ALKS) , which belongs to the Zacks Medical - Biomedical and Genetics industry, could be a great candidate to consider.This drugmaker has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quarters was 30.02%.For the most recent quarter, Alkermes was expe ...

In the latest trading session, Alkermes (ALKS) closed at $27.74, marking a -1% move from the previous day. This move lagged the S&P 500's daily loss of 0.07%. On the other hand, the Dow registered a gain of 0.16%, and the technology-centric Nasdaq decreased by 0.36%.Coming into today, shares of the drugmaker had gained 0.5% in the past month. In that same time, the Medical sector gained 1.45%, while the S&P 500 gained 3.05%.Market participants will be closely following the financial results of Alkermes in i ...

Companies within the biotechnology industry are very interesting to investors because they see wild swings in share price following positive or negative news, particularly in the case of small biotech companies. Investing in biotech and other pharmaceutical stocks can be risky because their price action can be so swift and unpredictable.Investors looking for some riskier options for their portfolio biotech companies may be a good choice due to the possibility of significant upside. But, it is best to have l ...

Financial Data and Key Metrics Changes - For Q3 2023, total revenues reached $380.9 million, up from $252.4 million year-over-year, reflecting a 51% increase [7] - GAAP net income was $47.8 million, while non-GAAP net income was $109.5 million for the quarter [10] - The company ended the quarter with approximately $996 million in cash and total investments, and total debt outstanding of approximately $291 million [10] Business Line Data and Key Metrics Changes - VIVITROL net sales were $99.3 million, reflecting a 3% year-over-year growth driven by alcohol dependence indication [7][16] - ARISTADA product family net sales increased 8% year-over-year to $81.8 million, primarily due to underlying demand [7][16] - LYBALVI net sales for the quarter were $50.7 million, up 8% sequentially, with a 10% growth in underlying prescriptions [8][14] Market Data and Key Metrics Changes - Manufacturing and royalty revenues were $149.1 million, compared to $52.9 million in the same period last year, driven by long-acting INVEGA products [8] - Revenues from VUMERITY were $34.6 million, up from $26.3 million year-over-year [9] Company Strategy and Development Direction - The company plans to separate its oncology business into Mural Oncology, which is expected to enhance profitability and focus on neuroscience [11][37] - Post-separation, Alkermes aims to be a pure play neuroscience company with a strong balance sheet and a focus on strategic priorities, including the ALKS 2680 development program [11][38] - The company is committed to disciplined expense management while investing in growth opportunities [11][38] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the potential for enhanced profitability following the favorable outcomes of recent legal matters and the upcoming separation of the oncology business [6][10] - The company reiterated its financial expectations for 2023, reflecting combined neuroscience and oncology business performance [10] Other Important Information - Initial clinical data for ALKS 2680, a novel orexin 2 receptor agonist for narcolepsy, was presented, showing promising safety and efficacy profiles [19][33] - The company is focused on executing brand strategies for its proprietary products and driving net sales expectations for 2023 [18] Q&A Session Summary Question: How will long-term durability be factored into dosing for the orexin program? - Management indicated that they will model appropriate doses for Phase 2 based on observed dose response and safety profiles [41][42] Question: What is the plan for idiopathic hypersomnia (IH) development? - The company is collecting data on IH patients and will inform appropriate doses for Phase 2 based on these data [45][47] Question: Can you comment on the commercial organization as a leverageable asset? - Management confirmed that the established commercial infrastructure can be leveraged for additional products, indicating openness to acquiring market-ready assets [48] Question: What are the safety concerns regarding blood pressure increases observed in patients? - Management noted that only transient increases in blood pressure were observed, with no significant safety signals identified [67] Question: What are the expectations for LYBALVI trends into next year? - Management expressed confidence in LYBALVI's growth prospects, citing expanding prescriber breadth and ongoing direct-to-consumer campaigns [55]

Third Quarter 2023 Financial Results & Business Update October 25, 2023 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-35299 https://reportify- 1252068037.cos.ap- beijing.myqcloud.com/media/produ ALKERMES PUBLIC LIMITED COMPANY (Exact name of registrant as specified in its cha ...

Second Quarter 2023 Financial Results & Business Update July 26, 2023 ...