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Overview of Price Move: Alkermes plc’s (NASDAQ: ALKS)

Alkermes plc’s (NASDAQ: ALKS) stock concluded the recent trade at $42.17 with upbeat trend move of 1.47%. The company has total market value of 153.90 million. The stock as of last trading session moved 10.31% up from its 52 week low and was -40.79% behind its 52 week high. After opening the first trading session at $70.68, it registered a day’s high of $70.68 and touched a day’s low of $69.70.

Alkermes plc (ALKS) recently stated financial results for the second quarter of 2018.

“Our strong second quarter results were driven by the solid growth of our proprietary commercial products, the continued strength of our royalty and manufacturing business, as well as the receipt of a $50M payment related to our alliance with Biogen for BIIB098,” commented James Frates, Chief Financial Officer of Alkermes. “The business is performing as planned and recently we are reiterating our financial expectations for 2018. As we head into a catalyst-rich second half of the year, we are well-positioned financially to drive value, grow our portfolio of commercial products and advance our late-stage pipeline.”

Quarter Ended June 30, 2018 Financial Highlights

  • Total revenues for the quarter were $304.6M. This contrast to $218.8Mfor the same period in the previous year, representing an raise of 39%. Proprietary product net sales for VIVITROL® and ARISTADA® were $109.8M for the quarter, reflecting a 24% raise contrast to the same period in the previous year.
  • Net loss according to generally accepted accounting principles in the U.S. (GAAP) was $32.6Mfor the quarter, or a basic and diluted GAAP net loss per share of $0.21. This contrast to GAAP net loss of $43.0M, or a basic and diluted GAAP net loss per share of $0.28, for the same period in the previous year.
  • Non-GAAP net income was $45.6Mfor the quarter, or non-GAAP basic and diluted earnings per share of $0.29. This contrast to non-GAAP net income of $1.2M, or non-GAAP basic and diluted earnings per share of $0.01, for the same period in the previous year.

Quarter Ended June 30, 2018 Financial Results

Revenues

  • Net sales of VIVITROL were $76.2M, contrast to $66.1Mfor the same period in the previous year, representing an raise of about 15%.
  • Net sales of ARISTADA were $33.6M, contrast to $22.7Mfor the same period in the previous year, representing an raise of about 48%.
  • Manufacturing and royalty revenues from RISPERDAL CONSTA®, INVEGA SUSTENNA®/XEPLION®and INVEGA TRINZA®/TREVICTA® were $85.2M, contrast to $82.2M for the same period in the previous year.
  • Manufacturing and royalty revenues from AMPYRA®/FAMPYRA®1were $19.7M, contrast to $25.3M for the same period in the previous year.
  • License revenues from the alliance with Biogen for BIIB098 (formerly ALKS 8700) were $48.3M.
  • Research and development revenues were $18.3M, of which $17.2Mrelated to the alliance with Biogen for BIIB098.

Costs and Expenses

  • Operating expenses were $304.7M, contrast to $263.4Mfor the same period in the previous year, primarily reflecting raised investment in the commercialization of VIVITROL and ARISTADA.
  • Other expense during the quarter included a $19.6Mcharge Because of a decrease in the fair value of contingent consideration, related to Recro Pharma, Inc.’s receipt of a complete response letter from the United States (U.S.) Food and Drug Administration (FDA) regarding the New Drug Application (NDA) for IV Meloxicam.

Quick ratio for most recent quarter was 2.60 while current ratio for time period was 2.90. In most recent quarter, LT Debt/Equity ratio was listed at 0.24 and Total Debt/Equity ratio was noted at 0.24. The stock’s price switched up -0.19% 20-Days Simple Moving Average, dropped -3.36% from 50-Days Simple Moving Average and fell -14.84% from 200 Days Simple Moving Average.

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James Moon

Written by James Moon

James Moon:- Business and Services
I am James Moon and I give “News Stories World” an insight into the most recent news hitting the “Business and Services” sector in Wall Street. I have been an independent financial adviser for over 13 years in the city and in recent years turned my experience in finance and passion for journalism into a full time role. I perform analysis of Companies and publicize valuable information for shareholder community.

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