Alkermes (ALKS) Stock Declines While Market Improves: Some Information for Investors

In the latest trading session, Alkermes (ALKS) closed at $29.69, marking a -0.37% move from the previous day. The stock's change was less than the S&P 500's daily gain of 0.52%. On the other hand, the Dow registered a gain of 0.12%, and the technology-centric Nasdaq increased by 0.9%.

The drugmaker's stock has climbed by 10.17% in the past month, exceeding the Medical sector's gain of 5.15% and the S&P 500's gain of 3.85%.

Analysts and investors alike will be keeping a close eye on the performance of Alkermes in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.64, indicating a 6300% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $369.21 million, indicating a 28.38% upward movement from the same quarter last year.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.62 per share and a revenue of $1.52 billion, signifying shifts of +11.97% and -8.32%, respectively, from the last year.

Investors should also take note of any recent adjustments to analyst estimates for Alkermes. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 21.31% upward. Alkermes is currently a Zacks Rank #3 (Hold).

Investors should also note Alkermes's current valuation metrics, including its Forward P/E ratio of 11.39. This denotes a discount relative to the industry's average Forward P/E of 22.41.

The Medical - Biomedical and Genetics industry is part of the Medical sector. With its current Zacks Industry Rank of 87, this industry ranks in the top 35% of all industries, numbering over 250.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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