Core Viewpoint - Alkermes plc is a biopharmaceutical company focused on innovative medicines for central nervous system disorders and cancer, with a market capitalization of approximately $5.13 billion [1] Financial Performance - Alkermes reported a revenue decline of 10.6% for Q4 2025, totaling $384.55 million compared to the previous year [2] - Despite the revenue decline, Alkermes exceeded the Zacks Consensus Estimate of $379.96 million, resulting in a positive surprise of 1.21% [3] - The company reported earnings per share (EPS) of $0.46 for the quarter, surpassing the consensus estimate of $0.43, marking a 7.8% positive surprise, although down from $1.04 EPS in the same quarter last year [4] Stock Performance - The current stock price of ALKS is $31.04, reflecting a decrease of 7.04% or $2.35, with fluctuations between $30.54 and $32.78 during the trading day [5] - Over the past year, ALKS reached a high of $36.32 and a low of $25.17, with a trading volume of 3,898,927 shares indicating active investor interest [5] Analyst Outlook - Douglas Tsao from H.C. Wainwright set a price target of $43 for Alkermes, indicating a potential upside of 38.53% [2][6]

Key Takeaways ALKS delivered Q4 earnings and revenue beat, though total sales fell 10.6% year over year.ALKS saw Lybalvi sales jump 22%, while manufacturing and royalty revenues sank 43% Y/Y in Q4.ALKS named Blair Jackson CEO from August 2026 and guided 2026 revenues to be $1.73-$1.84B.Alkermes plc (ALKS) reported adjusted earnings from continuing operations of 46 cents per share for the fourth quarter of 2025, which beat the Zacks Consensus Estimate of 43 cents. The company registered earnings of $1.04 per ...

For the quarter ended December 2025, Alkermes (ALKS) reported revenue of $384.55 million, down 10.6% over the same period last year. EPS came in at $0.46, compared to $1.04 in the year-ago quarter.The reported revenue represents a surprise of +1.21% over the Zacks Consensus Estimate of $379.96 million. With the consensus EPS estimate being $0.43, the EPS surprise was +7.8%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine t ...

Alkermes (ALKS) came out with quarterly earnings of $0.46 per share, beating the Zacks Consensus Estimate of $0.43 per share. This compares to earnings of $1.04 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +7.80%. A quarter ago, it was expected that this drugmaker would post earnings of $0.42 per share when it actually produced earnings of $0.49, delivering a surprise of +16.67%.Over the last four quarters, the company has ...

Core Insights - Alkermes plc is a biopharmaceutical company focused on innovative medicines for central nervous system disorders, addiction, and cancer [1] Financial Performance - For the earnings report dated February 25, 2026, Alkermes reported an earnings per share (EPS) of $0.29, which was below the estimated $0.43 [2][5] - The company exceeded revenue expectations with reported revenue of $384.5 million compared to the anticipated $381.5 million [2][5] Valuation Metrics - Alkermes has a price-to-earnings (P/E) ratio of approximately 22.76, indicating how the market values its earnings [3][5] - The price-to-sales ratio is about 3.74, reflecting the market's valuation of its revenue [3] - The enterprise value to sales ratio is roughly 3.34, and the enterprise value to operating cash flow ratio is about 9.10, providing a broader view of the company's valuation [4] - The earnings yield for Alkermes is approximately 4.39%, indicating the earnings generated per dollar invested in the company's stock [4]

For 2026, Alkermes guided total revenues of $1.73 billion to $1.84 billion, including proprietary product net sales of $1.52 billion to $1.60 billion. It expects manufacturing and royalty revenues of $210 million to $240 million, reflecting scheduled expiration of certain XEPLION royalties that phase out on a country-by-country basis in the second half of 2026. The company also noted that its VUMERITY manufacturing obligations were completed in 2025, with future VUMERITY revenue expected to be solely royalt ...

Research and Development - The company focuses significant resources on R&D programs aimed at developing novel therapeutics in areas of high unmet medical need[95]. - The company has a proprietary portfolio of patent rights and exclusive licenses, with plans to file additional patent applications for new or improved products and processes[115]. - The company relies on trade secrets and know-how, which are not patent-protected, to maintain its competitive position[130]. Sales and Distribution - The sales force for VIVITROL in the U.S. consisted of approximately 105 individuals as of December 31, 2025, with major sales to McKesson Corporation (38%), Cardinal Health (15%), and Cencora (18%)[99]. - The sales force for ARISTADA, ARISTADA INITIO, and LYBALVI in the U.S. consisted of approximately 435 individuals as of December 31, 2025, with sales distribution to McKesson Corporation (48%), Cardinal Health (22%), and Cencora (24%) for ARISTADA and ARISTADA INITIO[100]. - The sales force for LUMRYZ became part of the company in February 2026, consisting of approximately 60 individuals, distributed through a closed network of three commercial specialty pharmacies[101]. Competition - The company faces intense competition from various biopharmaceutical companies and research institutions, which may have greater financial and operational resources[104]. - VIVITROL competes with generic acamprosate calcium and disulfiram, as well as other marketed drugs for alcohol dependence[110]. - In the treatment of schizophrenia, ARISTADA competes with several other injectable products, including INVEGA and RISPERDAL CONSTA[106]. Intellectual Property - ARISTADA and ARISTADA INITIO have multiple U.S. patents expiring between 2030 and 2039, ensuring a strong intellectual property position for these products[117]. - VIVITROL has one unexpired U.S. patent that will expire in 2029, with a settlement allowing Teva to market a generic version starting January 15, 2027[118][119]. - INVEGA SUSTENNA/XEPLION and related products have patents expiring as late as 2041, indicating a long-term competitive advantage in the market[120]. - VUMERITY is protected by U.S. patents expiring in 2033, covering both compositions and treatment methods[121]. - LYBALVI has a robust patent portfolio with multiple patents expiring between 2030 and 2041, enhancing its market position[122]. - LUMRYZ has numerous patents with expiration dates from 2037 to 2042, along with FDA ODE for narcolepsy indications through 2030 and 2031[124]. - Alixorexton is protected by U.S. patents extending to 2041, providing a competitive edge in its therapeutic area[125]. - The company has exclusive rights through licensing agreements for various patents, which may involve annual royalties and minimum fees[126]. - The company faces potential patent infringement risks from third parties, which could lead to costly legal defenses[127][128]. Regulatory Compliance - The regulatory process for new pharmaceutical products in the U.S. requires preclinical studies and clinical trials, which must be submitted to the FDA for approval[133]. - Clinical trials are conducted in three phases, with Phase 1 focusing on safety and tolerability, Phase 2 assessing efficacy, and Phase 3 providing definitive evidence of safety and efficacy[139]. - The FDA has a standard review process of 10 months for New Drug Applications (NDA) and may grant priority review for significant improvements in treatment[138]. - The company must comply with Good Manufacturing Practices (GMP) and Good Clinical Practices (GCP) to ensure product quality and trial integrity[150][151]. - The Hatch-Waxman Act allows for an abbreviated FDA review process for generic drugs and provides marketing exclusivity for new chemical entities[152]. - The FDA may require a Risk Evaluation and Mitigation Strategy (REMS) to ensure that the benefits of a new product outweigh its risks[140]. - Non-compliance with FDA regulations can lead to civil or criminal penalties, impacting the company's ability to market its products[142]. - The company’s products are also subject to regulatory processes in jurisdictions outside the U.S., such as the European Medicines Agency (EMA) approval[148]. - The DEA regulates controlled substances, which may delay the commercial launch of products even after FDA approval[145]. Financial and Pricing Regulations - The Medicaid rebate program mandates a rebate of at least 23.1% of the average manufacturer price (AMP) for each unit reimbursed by state Medicaid programs[161]. - Under the Inflation Reduction Act, drug manufacturers must provide a 10% discount during the initial coverage phase and a 20% discount during the catastrophic coverage phase for Medicare Part D beneficiaries starting in 2025[164]. - The Orphan Drug Act allows for seven years of exclusivity for drugs approved for rare diseases affecting fewer than 200,000 individuals in the U.S.[156]. - The average sales price (ASP) methodology is used for Medicare Part B reimbursement, with manufacturers required to report ASP quarterly to the Centers for Medicare & Medicaid Services (CMS)[162]. - The 340B program requires manufacturers to charge covered entities no more than the 340B ceiling price, which is calculated based on AMP and rebate amounts[165]. - The Inflation Reduction Act, effective in 2022, imposes new financial liabilities on drugs in Medicare Part D starting in 2025 and allows price negotiations beginning in 2026[170]. - The U.S. federal government is pursuing initiatives to tie drug prices to those in other developed countries through a "Most-Favored-Nation" pricing framework, with proposed models set to begin in 2026 and 2027[171]. Employee and Corporate Governance - As of February 20, 2026, the company had approximately 2,050 full-time employees, with a voluntary attrition rate of 7.0% in 2025, below industry benchmarks[181]. - The company is committed to equitable pay and offers comprehensive total rewards packages, including bonuses tied to performance and equity opportunities for certain employees[183]. - The company has established five employee resource groups (ERGs) to promote diversity and inclusion within the workplace[184]. - The company conducts annual employee engagement surveys to assess satisfaction and inform human capital management strategies[185]. - The company maintains extensive corporate environmental, health, safety, and security policies, focusing on employee health and safety in 2025[188]. Data Protection and Compliance - The General Data Protection Regulation (GDPR) imposes significant obligations on the company regarding the processing of personal data, including health data, applicable to its operations in the EU[177]. - The company is subject to various financial disclosures and regulations as a publicly-listed entity in the U.S., including oversight by the SEC and compliance with the Irish Companies Act 2014[178]. - The company may face penalties of up to €20,000,000 or 4% of total worldwide annual turnover for non-compliance with GDPR and other data protection laws[329]. - The company is subject to various privacy and security laws, which could increase compliance costs and potential liabilities[326]. Market and Economic Factors - The market price of the company's ordinary shares fluctuated between $26.13 and $36.00 per share during the year ended December 31, 2025, indicating significant volatility[317]. - The company derives all revenues from XEPLION, TREVICTA, and BYANNLI sales in non-U.S. dollar currencies, exposing it to currency exchange rate risks[315]. - The company has experienced significant volatility in its stock price based on business performance, including commercial sales and financial guidance[318]. - The company has engaged in extensive dialogue with activist shareholders, resulting in contested elections and potential disruptions to operations[321]. - Changes in global trade policies, including tariffs, could adversely affect the company's business and financial condition[331]. - The company continues to monitor the long-term impacts of the COVID-19 pandemic on its operations and financial condition[333]. Internal Controls and Reporting - A material weakness in internal control over financial reporting could lead to significant errors in financial statements and negatively impact the trading price of ordinary shares[334]. - The company is required to report annually on its internal control over financial reporting under the Sarbanes-Oxley Act, and any deficiencies could lead to sanctions or investigations[336]. Social Media and Technology Risks - The increasing use of social media platforms and AI tools presents new risks and challenges for the company[338]. - Social media is utilized for corporate communications, employee engagement, and product information dissemination[338]. - The company faces potential regulatory actions or legal claims due to possible violations related to social media and AI usage[338]. - Misuse of social media or AI could lead to liability, loss of trade secrets, and reputational harm[338]. - Negative posts or comments on social media could damage the company's reputation and brand image[338].

Alkermes (NasdaqGS:ALKS) Q4 2025 Earnings call February 25, 2026 08:00 AM ET Company ParticipantsAmi Fadia - Managing DirectorAnya John - Research AssociateBlair Jackson - COODavid Huang - DirectorDouglas Tsao - Managing DirectorJason Gerberry - Managing DirectorJoon Lee - Managing DirectorJoseph Thome - Managing DirectorJoshua Reed - CFOJulian Pino - Biotechnology Equity ResearchRichard Pops - CEORudy Li - DirectorSandy Coombs - SVP of Investor Relations and Corporate AffairsTodd Nichols - Chief Commercial ...

Alkermes (NasdaqGS:ALKS) Q4 2025 Earnings call February 25, 2026 08:00 AM ET Company ParticipantsAmi Fadia - Managing DirectorAnya John - Research AssociateBlair Jackson - COODouglas Tsao - Managing DirectorIain Brown - CFOJoon Lee - Managing DirectorJoseph Thome - Managing DirectorJulian Pino - Biotechnology Equity ResearchRichard Pops - CEORudy Li - DirectorSandy Coombs - SVP of Investor Relations and Corporate AffairsTodd Nichols - Chief Commercial OfficerUmer Raffat - Senior Managing DirectorConference ...

Alkermes (NasdaqGS:ALKS) Q4 2025 Earnings call February 25, 2026 08:00 AM ET Speaker12Greetings, and welcome to the Alkermes' fourth quarter 2025 financial results conference call. My name is Melissa, and I will be your operator for today's call. All participant lines will be placed on mute to prevent background noise. If you should require operator assistance during the call, please press star 0 on your telephone keypad. Please note that this conference is being recorded. I will now turn the call over to S ...