Alkermes
Develops and sells neuroscience medicines spanning addiction, psychiatry and sleep disorders.
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Profile
Sells proprietary U.S. neuroscience medicines for addiction, schizophrenia, bipolar I disorder and narcolepsy, led by VIVITROL, ARISTADA, LYBALVI and LUMRYZ. Product sales are supplemented by manufacturing and royalties from partner-marketed medicines, while clinical development focuses on sleep and other neurological disorders.
Develops and commercializes neuroscience medicines across addiction, psychiatry and sleep. The U.S. proprietary portfolio includes VIVITROL for alcohol and opioid dependence; ARISTADA and ARISTADA INITIO for schizophrenia; LYBALVI for schizophrenia and bipolar I disorder; and LUMRYZ, a once-at-bedtime narcolepsy treatment added through the Avadel acquisition. Clinical programs target sleep and other neurological disorders.
Revenue comes primarily from U.S. sales of these branded medicines, supplemented by manufacturing and royalties from partner-marketed long-acting INVEGA products, VUMERITY and legacy products. Drug discovery, formulation, clinical development, manufacturing and commercial capabilities support the portfolio through lifecycle management. Results depend on demand and market access for a concentrated U.S. product portfolio, compliant manufacturing and supply, partner product sales, and successful clinical and regulatory execution.
Company facts
Key statistics
Year to date +67.8% · Average volume (30d) 1.5M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jul 28, 2026 | Piper Sandler | Reiterate | Overweight | $45 | $65 | |
| Jul 20, 2026 | Stifel Nicolaus | Target | $36 | $63 | ||
| Jul 2, 2026 | Mizuho Securities | Target | $45 | $65 | ||
| Jun 29, 2026 | B of A Securities | Downgrade | Neutral | Underperform | ||
| Jun 18, 2026 | Needham | Reiterate | Buy | $50 | $54 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 28, 2026Q2 FY26 | −$0.03 | $0.70 | +2,650.1% | $457.4M | $496.0M | +8.4% | −4.28% |
| May 5, 2026Q1 FY26 | −$0.57 | −$0.40 | +29.8% | $363.1M | $392.9M | +8.2% | −2.57% |
| Feb 25, 2026Q4 FY25 | $0.43 | $0.34 | −20.9% | $378.9M | $384.5M | +1.5% | −1.00% |
| Oct 28, 2025Q3 FY25 | $0.42 | $0.49 | +16.7% | $379.9M | $394.2M | +3.8% | +1.45% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $306.5M | $390.7M | $394.2M | $384.5M | $392.9M | $496.0M | |
| Gross profit | $257.3M | $341.2M | $342.6M | $338.3M | $331.3M | $397.9M | |
| Operating income | $13.8M | $93.0M | $89.1M | $58.1M | −$48.3M | $18.4M | |
| Net income | $22.5M | $87.1M | $82.8M | $49.3M | −$66.5M | $501.0K | |
| Diluted EPS | $0.13 | $0.52 | $0.49 | $0.29 | −$0.40 | $0.00 | |
| Gross margin | 83.9% | 87.3% | 86.9% | 88.0% | 84.3% | 80.2% | |
| Operating margin | 4.5% | 23.8% | 22.6% | 15.1% | -12.3% | 3.7% |
Fiscal years (4-quarter sums)FY21 $1.17B · FY22 $1.11B · FY23 $1.66B · FY24 $1.56B · FY25 $1.48B
Revenue by product · Q2 FY26
Revenue by geography · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $656.6M · Total debt $1.57B · Total assets $4.39B · Shareholders' equity $1.81B
Dividends
No dividends on record.
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 167.76M · Float 155.14M · 92.5% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 29.24M | 17.43% | 13F | Aug 7, 2026 |
| Baker Bros. Advisors LP | 10.01M | 5.97% | 13F | Aug 14, 2026 |
| Vanguard Portfolio Management LLC | 9.49M | 5.66% | 13F | Aug 13, 2026 |
| State Street Corp | 9.16M | 5.46% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 7.52M | 4.48% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 17, 2026 | Christian Todd Nichols | officer: SVP, Chief Commercial Officer | −7,576 | $49.23 |
| Aug 3, 2026 | David Joseph Gaffin | officer: EVP, CLO, Alkermes, Inc. | −2,034 | $48.58 |
| Aug 3, 2026 | Craig C. Hopkinson | officer: EVP R&D, Chief Medical Officer | −9,000 | $48.58 |
| Aug 3, 2026 | nancy lynn MD snyderman | director | −44,472 | $50.35 |
| Jul 6, 2026 | David Joseph Gaffin | officer: EVP, CLO, Alkermes, Inc. | −2,034 | $54.03 |
Peers
- Johnson & Johnson
Broad schizophrenia overlap across LAI and CAPLYTA franchises
- Indivior
OUD franchise peer to VIVITROL via SUBLOCADE and SUBOXONE
- Teva (ADR)
LAI antipsychotic and future generic VIVITROL overlap
- Jazz Pharmaceuticals
Oxybate sleep-medicine incumbent against LUMRYZ
- AbbVie
Branded oral antipsychotic overlap with LYBALVI
- Bristol-Myers Squibb
Focused oral schizophrenia overlap through COBENFY
- Harmony Biosciences
Narcolepsy overlap through WAKIX wake-promoting therapy
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Alkermes | $47.25 | −0.34% | $7.95B | 123.8 | — | 4.8 | +27.0% |
| Johnson & Johnson | $268.40 | +0.13% | $645.95B | 31.1 | 22.4 | 6.6 | +6.6% |
| Indivior | $34.87 | 0.00% | $4.35B | 12.5 | 7.7 | 3.3 | +13.6% |
| Teva (ADR) | $36.30 | −0.36% | $42.44B | 60.7 | 12.9 | 2.5 | −0.8% |
| Jazz Pharmaceuticals | $244.54 | +0.02% | $15.36B | 16.7 | 9.7 | 3.3 | +15.6% |
| AbbVie | $255.80 | +0.13% | $451.38B | 72.0 | 16.8 | 7.0 | +10.2% |
| Bristol-Myers Squibb | $66.60 | +0.05% | $136.00B | 14.7 | 10.5 | 2.8 | +5.7% |
| Harmony Biosciences | $39.21 | −0.03% | $2.27B | 12.7 | 10.1 | 2.4 | +30.3% |
| Median | 16.7 | 10.5 | 3.3 | +10.2% |