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Surging Earnings Estimates Signal Good News for Alkermes (ALKS)

Zacks

Alkermes Plc ALKS a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on ALKS’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Alkermes could be a solid choice for investors.

Current Quarter Estimates for ALKS

In the past 30 days, one estimate has gone higher for Alkermes while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 14 cents a share 30 days ago, to 17 cents today, a move of 21.4%.

Current Year Estimates for ALKS

Meanwhile, Alkermes current year figures are also looking quite promising, with one estimate moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of 2 cents per share 30 days ago to earnings of 1 cent per share today, a significant move.

Alkermes PLC Price and Consensus

Alkermes PLC Price and Consensus | Alkermes PLC Quote


Bottom Line

The stock has also started to move higher lately, adding 13.9% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #3 (Hold) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here..

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