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Alkermes (ALKS) reports mixed second-quarter 2024 results. Earnings and revenues decline year over year.
The headline numbers for Alkermes (ALKS) give insight into how the company performed in the quarter ended June 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 $0.72 per share, missing the Zacks Consensus Estimate of $0.73 per share. This compares to earnings of $0.55 per share a year ago.
Alkermes (ALKS) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Alkermes (ALKS) reported earnings 30 days ago. What's next for the stock?
As we delve deeper into 2024, biotech stocks are commanding the attention of growth-focused investors. Despite facing volatility and regulatory challenges in recent years, biotech is poised for a resurgence.
Alkermes is positioned for outperformance in the pharmaceutical sector due to its conservative cash-heavy balance sheet and high-margin business model. The company focuses on therapies for alcohol dependence, opioid dependence, schizophrenia, bipolar I disorder, and neurological disorders like narcolepsy. Alkermes has a very low valuation compared to peers in the pharmaceutical industry, making it an interesting pick to add defensive characteristics to your portfolio.