Why Are Alkermes Shares Trading Higher Today?

Alkermes plc's ALKS Q4 sales increased 16% Y/Y to $324.5 million, beating the consensus of $308.69 million.

• Net sales of proprietary products were $178.9 million, compared to $148.96 million in the prior year.
• Net sales of Vivitrol were $92.04 million, compared to $80.05 million in the prior year. Net sales of Aristada were $78.67 million, compared to $68.91 million.
• Manufacturing and royalty revenues were $143.37 million, compared to $130.89 million in the prior year.
• Royalty revenues from the long-acting INVEGA products were $81.14 million, compared to $76.52 million in the prior year.
• The Company reported an adjusted EPS of $0.23, compared to $0.10, beating the consensus of $0.11.
• Related: Alkermes Schizophrenia Med Shows Lower Mean Weight Gain In Early Illness With Schizophrenia.
• Guidance: Alkermes expects FY22 sales of $1 billion - $1.09 billion, below the consensus of $1.15 billion.
• The outlook expects Vivitrol sales of $355 million – $385 million, Aristada revenues of $290 million – $320 million, and Lybalvi sales of $55 million – $75 million.
• For FY22, the Company expects adjusted EPS of ($0.18) – $0.00, compared to the Wall Street estimate of $0.35.
• Price Action: ALKS shares are trading 13.30% higher at $26.40 on the last check Wednesday.