Financial Data and Key Metrics Changes - Alkermes generated total revenues of nearly $1.7 billion in 2023, driven primarily by a proprietary product portfolio that grew 18% year-over-year [16][17] - GAAP net income was $355.8 million, compared to a GAAP net loss of $158.3 million in the prior year, and non-GAAP net income was $243.7 million, compared to $57.9 million in 2022 [17][20] - The company ended the year with $813.4 million in cash and total investments, and total debt outstanding of approximately $290 million [20] Business Line Data and Key Metrics Changes - LYBALVI generated net sales of $191.9 million in 2023, reflecting a 100% year-over-year increase, with fourth-quarter net sales increasing 11% sequentially to $56.2 million [8][17] - ARISTADA net sales grew 8% year-over-year to $327.7 million in 2023, with fourth-quarter sales of $83.4 million [12][17] - VIVITROL net sales grew 6% year-over-year to $400.4 million, with fourth-quarter sales flat year-over-year at $102.4 million [13][17] Market Data and Key Metrics Changes - The company expects LYBALVI net sales in the range of $275 to $295 million for 2024, and ARISTADA net sales in the range of $340 to $360 million [11][12] - VIVITROL is expected to generate net sales in the range of $410 to $430 million for 2024, driven primarily by the alcohol dependence indication [13] Company Strategy and Development Direction - Alkermes has repositioned itself as a pure-play neuroscience company, focusing on proprietary products and advancing its neuroscience pipeline [6][24] - The company plans to maximize the potential of current commercial products, invest in its pipeline, explore external opportunities, and return excess capital to shareholders [24][25][26] - The separation of the oncology business has allowed the company to streamline operations and enhance growth and profitability [15][20] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, highlighting the strong foundation for growth established in 2023 and the expectation of continued revenue growth from proprietary products [5][6][20] - The company anticipates total revenues for 2024 to be in the range of $1.5 to $1.6 billion, with proprietary product net sales expected to exceed $1 billion [21][22] Other Important Information - The company completed the separation of its oncology business in November 2023, which had operational, financial, and tax consequences [15] - Alkermes expects to generate significant cash flow and has a share repurchase program approved for up to $400 million [26] Q&A Session Summary Question: What does the company make of Takeda not moving forward with TAK-861 in NT2? - Management noted that the dosing for NT2 would need to be significantly higher than for NT1, and they were not surprised by Takeda's decision due to dosing flexibility concerns [30][31] Question: How concerned is the team about 2680's efficacious doses inducing insomnia in NT2 patients? - Management expressed confidence in the dose proportionality and half-life of 2680, indicating that insomnia could be an indicator of efficacy and would be managed by adjusting doses if necessary [39][40] Question: What are the expectations for LYBALVI's DTC program in 2024? - The company plans to continue its DTC campaign, which has shown positive responses and is an important part of building awareness and driving demand [42][44] Question: How does the company view margins and potential business development spending? - Management indicated that they expect to maintain sustained profitability and cash flow generation while being opportunistic with business development [46][48] Question: Can the company confirm any visual disturbances observed in NT2 or IH patients dosed so far? - Management stated that they have not released any data on NT2 or IH as they remain blinded [52]

Alkermes plc (ALKS) reported fourth-quarter 2023 adjusted earnings of 48 cents per share, which beat the Zacks Consensus Estimate of 46 cents. The company had reported adjusted earnings of 40 cents per share in the year-ago quarter.ALKS’ revenues of $377.5 million surged almost 24% from the year-ago quarter’s level owing to strong performance of its proprietary products portfolio. The top line also beat the Zacks Consensus Estimate of $361.2 million.Quarter in DetailALKS derives revenues on net sales of its ...

For the quarter ended December 2023, Alkermes (ALKS) reported revenue of $377.48 million, up 23.9% over the same period last year. EPS came in at $0.48, compared to $0.14 in the year-ago quarter.The reported revenue represents a surprise of +4.50% over the Zacks Consensus Estimate of $361.24 million. With the consensus EPS estimate being $0.46, the EPS surprise was +4.35%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street e ...

DUBLIN, Feb. 8, 2024 /PRNewswire/ -- Alkermes plc (Nasdaq: ALKS) will host a conference call and webcast presentation at 8:00 a.m. ET (1:00 p.m. GMT) on Thursday, Feb. 15, 2024 to discuss the company's fourth quarter and year-end 2023 financial results. Management will also discuss financial expectations for 2024 and provide an update on the company. The webcast player and accompanying slides may be accessed on the Investors section of Alkermes' website at www.alkermes.com. The conference call may be access ...

Wall Street expects a year-over-year increase in earnings on higher revenues when Alkermes (ALKS) reports results for the quarter ended December 2023. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The earnings report might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock m ...

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 ...