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Alkermes' (ALKS) earnings and revenues miss first-quarter 2024 estimates. However, revenues rise year over year on strong proprietary product sales.
The headline numbers for Alkermes (ALKS) give insight into how the company performed in the quarter ended March 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Alkermes (ALKS) came out with quarterly earnings of $0.44 per share, missing the Zacks Consensus Estimate of $0.59 per share. This compares to earnings of $0.01 per share a year ago.
Alkermes (ALKS) expects its set of proprietary products, Vivitrol, Aristada and Lybalvi, to generate incremental sales and combat stiff competition in 2024.
Alkermes (ALKS) reports positive top-line data from a phase Ib, proof-of-concept study investigating ALKS 2680 for the treatment of narcolepsy.
Alkermes reports positive Phase 1 results for ALKS-2680 in narcolepsy and idiopathic hypersomnia, with significant efficacy and manageable side effects. The company plans to proceed with a Phase 2 study for ALKS-2680 in Narcolepsy Type 2 later this year. Q4 earnings show robust revenue growth, led by Lybalvi, which significantly outpaced other products with 61% year-over-year growth.
Alkermes (ALKS) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
Alkermes (ALKS) is well positioned to outperform the market, as it exhibits above-average growth in financials.
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