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Alkermes plc. (ALKS) stock

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NASDAQ: ALKS Nasdaq Biotechnology Next results ~November 3, 2026

B Fundamentals grade

Alkermes plc. is a US-listed company in the biotechnology industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$39

Cash-flow model

Base case. Range ~$29–$53 across our lower- and higher-growth cases (4.3%–14.3% a year).

Price vs value

Modestly overvalued

The price is inside our value range, 14% above our base value.

Price used: $44.89, November 2, 2026

Alkermes plc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter Alkermes files

Where Alkermes stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $1.67bn, up 10.8% on a year earlier, faster than the 3.2% growth a quarter earlier. Free-cash-flow margin fell to 13.3% from 31.9% a year earlier. Operating margin narrowed to 7.0% from 24.9%. Against its peers on growth, profitability, cash generation and balance sheet, it grades B. It passes 1 of our 7 financial-health checks. Our cash-flow model value is $33.10 a share.

Source: 10-Q filed July 28, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 3, 2026 (estimated)

Alkermes plc.'s trailing-twelve-month revenue grew 15.3% year on year, with a free-cash-flow margin of 13.0%. Where it stands out: free-cash-flow margin of 13.0% ranks 30 of 176 biotechnology companies we cover.

Our discounted-cash-flow model values the business at ~$39 per share in the base case (~$29–$53 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Balance sheet growing far ahead of sales: Total assets grew 90% year over year while revenue grew 15% — the balance sheet is expanding 75 points faster than the business it supports.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 15.3% over the last 12 months, against a median of 12.8% for biotechnology companies we cover.
  • Growth speeding up. The growth rate is 4.5 points higher than a quarter earlier.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 10.4% over 90 days.

Things to watch

  • Priced above our value. The share price of $44.89 is 24% above our value per share of $34.
  • Margins narrowing. Operating margin is down 19.9 points on a year ago.
  • Share dilution. Diluted shares rose 2.1% in a year.
  • High earnings multiple. The shares trade at 115 times the last 12 months' earnings, so expectations are demanding.
  • Insiders selling. 7 insiders sold $10M of stock over the past 365 days and none bought (72% under pre-set trading plans).
  • Gross margin slipping. Gross margin is down 3.2 points on a year ago.

Latest results: FY2026 Q3

Filed November 3, 2026
Earnings per share
$0.70 against an average estimate of $0.29: beat by 141.3%
Revenue
$480m, up 21.8% on a year earlier
Next report
November 3, 2026; average EPS estimate $0.25

Alkermes' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-1.0%
  • 1 week+1.0%
  • 1 month+7.5%
  • This year+60.4%
  • 1 year+46.2%
  • 5 years+46.6%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$1.8B
Operating margin
3.7%
Net margin
-0.0%
EPS (TTM, diluted)
$-0.00

Growth

Revenue growth
+15.3%
Change in growth rate
+4.5 pts
Share count change
+2.1%

Cash

Free cash flow (TTM)
$227M
FCF margin
13.0%
Stock pay % of revenue
6.9%

Earnings

Last results
November 3, 2026
Next results (est.)
January 22, 2027

News & updates

Updated November 3, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Announcement
  3. Leadership
  4. Agreement
  5. Insider trade
  6. Results
  7. Agreement ended

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Alkermes plc. valuation models and calculator

What the price is pricing in

The share price implies about 11.8% a year of cash-flow growth for five years.That is close to the 8.4% a year revenue growth Alkermes has delivered.

Read with care: free cash flow has swung sharply in the past year (often a one-off tax, legal or working-capital item), so the cash-flow base behind this reading may be unusually low or high.

  • Priced in11.8%
  • Last 12 months15.3%
  • 3 years a year3.3%
  • 5 years a year8.4%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($46.63, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Hold12-month view
12-month price target
~$39
Price used
$46.63close November 3, 2026
Implied change
▼ 16%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Alkermes plc.'s free cash flow after stock-based pay with after-tax interest added back ($297M, FY2026 Q3 TTM), growing 9.2% and 8.6% in the next two years (forecasts, guidance and its record), then back to 9.3% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$29–~$53 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Alkermes plc.'s free cash flow after stock-based pay ( $297M, FY2026 Q3 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Alkermes plc. as an operating company, with every model that fits that kind of business. Cost of equity 8.8%: the 10-year Treasury yield (4.9%) plus a beta of 0.87 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$39 ~$29–$53 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$22 ~$21–$43 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$14 ~$9.5–$22 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$15 ~$12–$18 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$26 ~$14–$39 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Alkermes plc. with Biotechnology in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −26%
  • Revenue growth 5 points higher ▲ +34%
  • Free-cash-flow margin 1 point lower ▼ −6%
  • Last year's free-cash-flow margin change, if it persists ▼ −55%
  • Discount rate 1 point higher ▼ −17%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $21$30$42$58$79$106
8.5% $15$22$30$42$57$76
10% $11$17$23$32$43$58

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$79.38$55.58$54.73$29.51$20.40$19.95$23.26$26.13$27.74$28.76$27.98$44.89
Market value$11.8bn$8.4bn$8.4bn$4.6bn$3.2bn$3.2bn$3.8bn$4.3bn$4.7bn$4.9bn$4.7bn$7.7bn
+ Net debt (− = net cash)$169m$97m$90m$13m$73m$2m−$42m$797000−$167m−$2m−$389m$880m
Enterprise value$12.0bn$8.5bn$8.5bn$4.6bn$3.3bn$3.2bn$3.8bn$4.3bn$4.5bn$4.9bn$4.3bn$8.6bn
Multiples
Price / sales 18.8x11.3x9.3x4.2x2.7x3.0x3.3x3.8x2.8x3.1x3.2x4.4x
Price / earnings ————————13.2x13.3x19.5x—
Price / free cash flow ———153.3x—78.0x52.0x—13.3x12.0x9.8x33.8x
EV / EBITDA ———n/m——21.5x59.6x9.3x10.8x15.4x59.2x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

63 /100

Moderate moat

How hard Alkermes's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Cash operating profit has been a median 20.8% of total assets over 9 years.

  • Pricing power 20 / 20

    Gross margin has been a median 83.5%, moving by 1.4 percentage points (standard deviation) across 9 years.

  • Durability 10 / 20

    Operating margin has been a median -2.4%; its worst year was -21.1%.

  • Cash conversion 11 / 20

    Free cash flow was positive in 8 of 10 years, at a median 5.7% of revenue.

  • Discipline 8 / 20

    The diluted share count rose 6.4% over five years; stock-based pay has been a median 7.5% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (68 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 3, 2026, before the open. Analysts expect revenue of $465m and EPS of $0.25 (range −$0.04 to $0.51) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $1.27 −39% $1.8bn +24%
Next $1.81 +42% $1.9bn +7%

Next year's EPS estimate has moved +10.4% in 90 days, across 4 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +3.3% on 90 days ago. In the last 30 days, 1 analyst raised Alkermes plc.'s forecast and 1 cut it.

Consensus EPS forecast Alkermes plc., last 90 days
$1.20 $1.40 $1.60 $1.80 $2.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $1.23 Current fiscal year, 60 days ago: $1.27 Current fiscal year, 30 days ago: $1.27 Current fiscal year, 7 days ago: $1.27 Current fiscal year, Now: $1.27 $1.27 Next fiscal year, 90 days ago: $1.64 Next fiscal year, 60 days ago: $1.83 Next fiscal year, 30 days ago: $1.81 Next fiscal year, 7 days ago: $1.81 Next fiscal year, Now: $1.81 $1.81

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $1.23$1.64
60 days ago $1.27$1.83
30 days ago $1.27$1.81
7 days ago $1.27$1.81
Now $1.27$1.81

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.29 $0.70 +141.3%
Mar 2026 −$0.04 $0.38 +1053.0%
Dec 2025 $0.45 $0.48 +7.7%
Sept 2025 $0.39 $0.65 +68.5%

Adjusted EPS as companies report it, against the average analyst estimate.

How our valuation uses these forecasts

Our cash-flow model grows Alkermes plc.'s revenue by +9.2% next year and +8.6% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+9.2%, weight 62%) and the company's own record (+9.3%, weight 38%) . How the weights are set.

Analyst recommendations

20 analysts, Oct 2026
Buy1575%
Hold420%
Sell15%

Monthly trend

  1. Oct 2026312420
  2. Sep 2026311419
  3. Aug 2026311318
  4. Jul 2026311318

Counts of recommendations published by analysts covering Alkermes plc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
15.7%
of tradable shares
Days to cover
7.67
at average volume
Short interest, 1 month
+26%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
1.4%
of shares
Employees
2,050
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +46.2%

$30.70 on October 31, 2025 to $44.89

ThenNowEffect
Revenue (last 12 months) $1.5bn $1.7bn +10.8%
Net margin 23.1% 4.0% −82.9%
P/E multiple 14.8x 115.0x +679.3%
Share count 167m 169m −1.1%

Biggest factor: p/e multiple.

Last 3 years +81.1%

$24.79 on November 3, 2023 to $44.89

ThenNowEffect
Revenue (last 12 months) $1.5bn $1.7bn +14.1%
Net margin 7.0% 4.0% −43.7%
P/E multiple 40.0x 115.0x +187.2%
Share count 166m 169m −1.8%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
ALKS+17%+12%+6%+4%−3%+60%
Industry peers (median)−36%−57%−18%−29%−5%−27%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
ALKS58%58%50%42%50%46%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
ALKS−33%−31%−31%−29%−27%−29%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 84% from December 28, 2015 to March 18, 2020. Getting back needed a 514% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$27.20 – $55.22
From 52-week high
−18.7%
vs 50-day average
+2.1%
vs 200-day average
+10.7%
Volatility (1 year)
40%
Beta vs S&P 500
0.77

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
6 up, 5 down
typical move ±6.3%
After a week
7 up, 4 down
typical move ±6.6%
After a month
7 up, 4 down
typical move ±11.1%
Results releasedNext dayS&P 500 next day5 days21 days
July 28, 2026 −8.3% −1.3% −5.8% −6.8%
May 5, 2026 +3.4% +2.2% +12.1% +27.0%
February 25, 2026 −8.0% +0.3% −12.3% −10.4%
January 12, 2026 −1.7% 0.0% +7.0% +17.7%
October 28, 2025 +5.8% +0.3% +2.3% 0.0%
October 22, 2025 −4.5% +0.1% 0.0% −10.4%
July 29, 2025 +6.8% −0.4% +1.7% +11.9%
May 1, 2025 +10.5% +2.2% +5.6% +8.8%
February 12, 2025 +12.6% +0.7% +11.1% +6.5%
January 13, 2025 +1.5% +0.3% +7.2% +19.3%
October 24, 2024 −6.3% +0.2% −7.7% +3.3%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Alkermes plc.’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: rated Sell.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: no liquid put and call pair for the same expiry.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Alkermes plc. in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Alkermes plc.
$1.4B $1.5B $1.6B $1.7B $1.8B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $1.7B Revenue (TTM), FY24 Q1: $1.7B Revenue (TTM), FY24 Q2: $1.5B Revenue (TTM), FY24 Q3: $1.5B Revenue (TTM), FY24 Q4: $1.6B Revenue (TTM), FY25 Q1: $1.5B Revenue (TTM), FY25 Q2: $1.5B Revenue (TTM), FY25 Q3: $1.5B Revenue (TTM), FY25 Q4: $1.5B Revenue (TTM), FY26 Q1: $1.6B Revenue (TTM), FY26 Q2: $1.7B Revenue (TTM), FY26 Q3: $1.8B $1.8B

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $1.7B
FY24 Q1 $1.7B
FY24 Q2 $1.5B
FY24 Q3 $1.5B
FY24 Q4 $1.6B
FY25 Q1 $1.5B
FY25 Q2 $1.5B
FY25 Q3 $1.5B
FY25 Q4 $1.5B
FY26 Q1 $1.6B
FY26 Q2 $1.7B
FY26 Q3 $1.8B
Revenue growth, TTM YoY Alkermes plc.
-20% 0% 20% 40% 60% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: 49.6% Revenue growth, TTM YoY, FY24 Q1: 54.0% Revenue growth, TTM YoY, FY24 Q2: 3.1% Revenue growth, TTM YoY, FY24 Q3: -5.4% Revenue growth, TTM YoY, FY24 Q4: -6.4% Revenue growth, TTM YoY, FY25 Q1: -12.3% Revenue growth, TTM YoY, FY25 Q2: -0.2% Revenue growth, TTM YoY, FY25 Q3: 1.1% Revenue growth, TTM YoY, FY25 Q4: -5.2% Revenue growth, TTM YoY, FY26 Q1: 3.2% Revenue growth, TTM YoY, FY26 Q2: 10.8% Revenue growth, TTM YoY, FY26 Q3: 15.3% 15.3%

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 49.6%
FY24 Q1 54.0%
FY24 Q2 3.1%
FY24 Q3 -5.4%
FY24 Q4 -6.4%
FY25 Q1 -12.3%
FY25 Q2 -0.2%
FY25 Q3 1.1%
FY25 Q4 -5.2%
FY26 Q1 3.2%
FY26 Q2 10.8%
FY26 Q3 15.3%
Operating margin (TTM) Alkermes plc.
0% 10% 20% 30% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: 24.9% Operating margin (TTM), FY24 Q1: 27.1% Operating margin (TTM), FY24 Q2: 19.7% Operating margin (TTM), FY24 Q3: 20.8% Operating margin (TTM), FY24 Q4: 27.0% Operating margin (TTM), FY25 Q1: 25.8% Operating margin (TTM), FY25 Q2: 24.9% Operating margin (TTM), FY25 Q3: 23.6% Operating margin (TTM), FY25 Q4: 17.2% Operating margin (TTM), FY26 Q1: 12.3% Operating margin (TTM), FY26 Q2: 7.0% Operating margin (TTM), FY26 Q3: 3.7% 3.7%

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 24.9%
FY24 Q1 27.1%
FY24 Q2 19.7%
FY24 Q3 20.8%
FY24 Q4 27.0%
FY25 Q1 25.8%
FY25 Q2 24.9%
FY25 Q3 23.6%
FY25 Q4 17.2%
FY26 Q1 12.3%
FY26 Q2 7.0%
FY26 Q3 3.7%
FCF margin (TTM) Alkermes plc.
10% 15% 20% 25% 30% 35% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 21.2% FCF margin (TTM), FY24 Q1: 22.8% FCF margin (TTM), FY24 Q2: 21.7% FCF margin (TTM), FY24 Q3: 20.9% FCF margin (TTM), FY24 Q4: 26.0% FCF margin (TTM), FY25 Q1: 31.8% FCF margin (TTM), FY25 Q2: 31.9% FCF margin (TTM), FY25 Q3: 32.3% FCF margin (TTM), FY25 Q4: 32.5% FCF margin (TTM), FY26 Q1: 14.2% FCF margin (TTM), FY26 Q2: 13.3% FCF margin (TTM), FY26 Q3: 13.0% 13.0%

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 21.2%
FY24 Q1 22.8%
FY24 Q2 21.7%
FY24 Q3 20.9%
FY24 Q4 26.0%
FY25 Q1 31.8%
FY25 Q2 31.9%
FY25 Q3 32.3%
FY25 Q4 32.5%
FY26 Q1 14.2%
FY26 Q2 13.3%
FY26 Q3 13.0%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-KT, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Alkermes took in during FY2025, followed through to profit: what it cost to make, what went on research and running the business, and what was left after tax.

  1. Revenue $1.5B
  2. Other income $37.5M · 2.5%
  3. Cost of revenue $196M · 13.3%
  4. Gross profit $1.3B · 86.7%
  5. Research and development $324M · 22.0%
  6. Selling, general and admin $702M · 47.5%
  7. Operating income $254M · 17.2%
  8. Income tax $49.8M · 3.4%
  9. Net income $242M · 16.4%

Shares of revenue. Source: Alkermes's 10-K for FY2025, as filed with the SEC. Other income is income outside operations, such as investment gains.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2010 Mar 2010 2011 Mar 2011 2012 Mar 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 178 187 390 596 619 628 746 903 1,094 1,171 1,039 1,174 1,112 1,663 1,558 1,476 1,754
Gross profit — — — — — — 614 749 918 991 860 976 894 1,410 1,312 1,279 1,453
EBITDA −18 −37 −40 — 11 −139 −114 −49 5 −95 −31 176 72 489 449 281 145
Operating income −43 −46 −88 34 −87 −224 −209 −148 −99 −175 −112 98 −6 414 421 254 64
Net income −40 −46 −114 21 −30 −227 −208 −158 −139 −197 −111 −48 −158 356 367 242 −0
Diluted EPS −$0.42 −$0.48 −$0.99 $0.14 −$0.21 −$1.52 −$1.38 −$1.03 −$0.90 −$1.25 −$0.70 −$0.29 −$0.97 $2.10 $2.17 $1.43 −$0.00
Growth (year on year)
Revenue — +4.7% +108.9% +52.9% +3.8% +1.5% +18.7% +21.1% +21.1% +7.0% −11.3% +13.0% −5.3% +49.6% −6.4% −5.2% +15.3%
EBITDA — — — — — — — — — — — — −59.3% +581.4% −8.2% −37.4% −62.7%
Operating income — — — — −352.8% — — — — — — — −106.2% — +1.6% −39.6% −82.1%
Net income — — — — −245.6% — — — — — — — — — +3.2% −34.2% −100.1%
Diluted EPS — — — — −250.0% — — — — — — — — — +3.3% −34.1% −100.1%
Margins
Gross margin — — — — — — 82.3% 82.9% 83.9% 84.6% 82.8% 83.2% 80.4% 84.8% 84.2% 86.7% 82.9%
EBITDA margin −10.1% −19.8% −10.4% — 1.8% −22.1% −15.3% −5.5% 0.4% −8.1% −2.9% 15.0% 6.5% 29.4% 28.8% 19.0% 8.3%
Operating margin −24.1% −24.4% −22.6% 5.8% −14.1% −35.7% −28.0% −16.4% −9.1% −15.0% −10.8% 8.3% −0.5% 24.9% 27.0% 17.2% 3.7%
Net margin −22.2% −24.4% −29.1% 3.5% −4.9% −36.2% −28.0% −17.5% −12.7% −16.8% −10.7% −4.1% −14.2% 21.4% 23.6% 16.4% −0.0%
Free-cash-flow margin −15.7% −8.2% −5.0% 21.0% −3.6% −14.8% −14.4% −3.6% 2.7% −1.6% 3.9% 6.3% −1.5% 21.2% 26.0% 32.5% 13.0%
Cash flow
Cash from operations −12 −6 −2 148 11 −40 −64 19 99 72 83 102 21 401 439 521 243
Capital spending 16 9 17 22 34 53 44 51 69 91 42 28 38 48 33 40 16
Free cash flow −28 −15 −19 125 −23 −93 −107 −32 30 −19 41 74 −17 353 406 480 227
Stock-based pay 14 20 29 — 60 97 94 84 105 101 90 88 94 101 97 99 120
Free cash flow after stock pay −42 −35 −48 — −82 −191 −202 −116 −76 −120 −50 −14 −111 252 309 382 107
Balance sheet
Cash — — — 168 224 181 186 191 267 204 273 338 292 457 291 389 631
Total debt 0 0 444 364 356 350 284 281 279 277 275 296 293 291 289 0 1,512
Net debt (negative = net cash) — — — 197 132 169 97 90 13 73 2 −42 1 −167 −2 −389 880
Diluted shares 95m 96m 115m 144m 145m 149m 151m 153m 155m 157m 159m 165m 164m 170m 169m 169m 171m
Returned to shareholders
Buybacks 3 — — — — — — — — — — — — — 200 — —
Total returned 3 — — — — — — — — — — — — — 200 — —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

1 of 7 checks passed · September 30, 2026
What it owns · $4.4bn
Short-term assets $1.6bnLonger-term assets $2.9bn
What it owes, and who funded it · $4.4bn
Short-term liabilities $652mLonger-term liabilities $1.9bnShareholders' equity $1.9bn
  • Short-term assets cover short-term liabilities $1.6bn of assets due within a year against $652m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $1.6bn short-term assets against $1.9bn of longer-dated liabilities.
  • More cash than debt $631m of cash against $1.5bn of debt.
  • Debt below 40% of shareholders' equity Debt is 80% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 27% to 80% over five years.
  • A year's operating cash flow covers at least 20% of debt $243m of operating cash flow against $1.5bn of debt.
  • Operating profit covers interest at least five times over Operating income of $64m against $87m of interest.

From Alkermes plc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+2.1%
year over year
R&D spending
24.5%
of revenue
Sales & admin spending
50.1%
of revenue

Competitors: side by side with peers

Closest by revenue in biotechnology
Last 12 months unless stated ALKS HALO INSM MDGL MRNA LKFT Median
Revenue, last 12 months $1.8bn $1.7bn $1.5bn $1.4bn $2.2bn $1.3bn $56m
Revenue growth, last 12 months 15.3% 41.2% 240.0% 92.8% −27.6% 321.6% 12.8%
Revenue growth, 3-year average 3.3% 29.1% 75.6% — −40.6% — 13.7%
Revenue growth, latest quarter 21.8% 47.7% 268.4% 50.1% 2.1% — 10.2%
Gross margin 82.9% 82.4% 84.4% — 23.4% 97.3% 82.8%
Operating margin 3.7% 35.9% −37.1% −10.7% −149.0% 26.5% −189.4%
Operating margin, 3-year average 16.0% 46.6% −179.0% −255.2% −115.7% −39.1% −363.5%
Net margin −0.0% 24.9% −39.9% −10.9% −141.4% 28.9% −169.8%
Cash from operations / revenue 13.9% 49.2% −39.2% −11.0% −48.2% −23.1% −168.0%
Free-cash-flow margin 13.0% 48.5% −41.3% −11.8% −55.8% −24.4% −162.4%
Free-cash-flow margin, 3-year average 22.1% 47.0% −143.2% −199.3% −82.7% −127.4% −310.0%
Stock pay / revenue 6.9% 3.8% 11.0% 9.4% 20.7% 2.2% 20.0%
Change in share count 2.1% −4.2% 13.7% 14.8% 2.0% 0.0% 8.2%

Median of all 184 companies we cover in biotechnology. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

184 biotechnology companies
Measure Company Peer median Rank
Revenue growth Growth 15.3% 12.8% 85 of 172
Change in growth rate Growth +4.5pp -0.1pp 55 of 172
Gross margin Profitability 82.9% 82.4% 36 of 75
Operating margin Profitability 3.7% -189.4% 37 of 175
Net margin Profitability -0.0% -157.3% 38 of 180
Free-cash-flow margin Cash generation 13.0% -145.4% 30 of 176
Stock pay as % of revenue Cash generation 6.9% 19.2% 45 of 179
Long-term debt as % of assets Balance sheet 33.2% 20.6% 58 of 78
Change in share count Balance sheet 2.1% 7.9% 46 of 156

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Products $1.2B 80.3% ▲ 9.3%
Vivitrol $468M 39.5% ▲ 2.3%
Aristada and Aristada Initio $370M 31.2% ▲ 6.9%
LYBALVI $347M 29.3% ▲ 23.8%
Manufactured Product and Royalty $291M 19.7% ▼ 38.6%
Royalty $245M 84.2% ▼ 30.8%
Manufacturing Revenue $46M 15.8% ▼ 61.5%
Geography
Region Revenue Share YoY
United States $1.4B 93.0% ▼ 2.7%
Foreign Country Excluding Specified Country $102M 6.9% ▼ 30.0%
Ireland $754,000 0.1% ▼ 41.7%

From Alkermes plc.'s 10-K filed February 25, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$9.3B
Institutions reporting
419
Shares held vs prior quarter
▲ 0.7%
Positions opened / closed
82 / 51

Top buyers and sellers, Q2 2026: 221 institutions bought and 188 sold ; the biggest buyer was Price T Rowe Associates Inc (+2.1M shares) and the biggest seller Jpmorgan Chase & Co (−3.8M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $1.5B 29.2M 16.5% ▲ 3.3%
Baker Bros. Advisors LP $525M 10.0M 5.6% 0.0%
Vanguard Portfolio Management LLC $497M 9.5M 5.3% ▼ 0.2%
State Street Corp $480M 9.2M 5.2% ▼ 3.2%
Vanguard Capital Management LLC $394M 7.5M 4.2% ▲ 1.2%
Price T Rowe Associates Inc $353M 6.7M 3.8% ▲ 44.4%
Renaissance Technologies LLC $339M 6.5M 3.6% ▲ 4.9%
Geode Capital Management, LLC $235M 4.5M 2.5% ▲ 7.1%
Dimensional Fund Advisors LP $220M 4.2M 2.4% ▼ 7.2%
Deep Track Capital, LP $210M 4.0M 2.3% ▲ 11.4%
American Century Companies Inc $207M 4.0M 2.2% ▼ 34.9%
Holocene Advisors, LP $189M 3.6M 2.0% ▲ 55.4%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Alkermes plc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $10.3M 33 trades by 7 insiders · 72% under pre-set plans
Net ▼ $10.3M net selling
Insider Date Trade Shares Price Value
Gaffin David Joseph EVP, CLO, Alkermes, Inc. October 2, 2026 Sell pre-set plan 2,034 $41.03 $83,455
Gaffin David Joseph EVP, CLO, Alkermes, Inc. September 3, 2026 Sell pre-set plan 2,034 $48.01 $97,652
Hopkinson Craig C. EVP R&D, Chief Medical Officer September 1, 2026 Sell pre-set plan 9,000 $46.99 $422,910
Nichols Christian Todd SVP, Chief Commercial Officer August 17, 2026 Sell pre-set plan 6,912 $49.19 $340,001
Nichols Christian Todd SVP, Chief Commercial Officer August 17, 2026 Sell pre-set plan 664 $49.65 $32,968
Gaffin David Joseph EVP, CLO, Alkermes, Inc. August 3, 2026 Sell pre-set plan 2,034 $48.58 $98,812
Hopkinson Craig C. EVP R&D, Chief Medical Officer August 3, 2026 Sell pre-set plan 9,000 $48.58 $437,220
Snyderman Nancy Lynn Md Director August 3, 2026 Sell 44,472 $50.35 $2.2M
Gaffin David Joseph EVP, CLO, Alkermes, Inc. July 6, 2026 Sell pre-set plan 2,034 $54.03 $109,897
Hopkinson Craig C. EVP R&D, Chief Medical Officer July 1, 2026 Sell pre-set plan 8,300 $51.46 $427,118
Hopkinson Craig C. EVP R&D, Chief Medical Officer July 1, 2026 Sell pre-set plan 700 $52.13 $36,491
Wright Christopher I Director June 12, 2026 Sell pre-set plan 2,000 $45.10 $90,200

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 2 trades and filings

In the last 12 months, 1 member of Congress disclosed 2 purchases and 0 sales of Alkermes plc. shares.

  • Gilbert Ray Cisneros, Jr.(D-CA 31):Purchase, $1,001 - $15,000, traded September 29, 2026, filed October 12, 2026
  • Gilbert Ray Cisneros, Jr.(D-CA 31):Purchase, $15,001 - $50,000, traded July 30, 2026, filed September 4, 2026

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around January 22, 2027 estimated from the company's past filing pattern, not announced

  • November 3, 2026
  • July 28, 2026
  • May 5, 2026
  • February 25, 2026
  • January 12, 2026
  • October 28, 2025

Recent SEC filings

Data status

When each part of this page on Alkermes plc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Alkermes plc. in brief

What does Alkermes plc. do?
Alkermes plc. is a US-listed company in the biotechnology industry. Its financial year ends in December.
What is Alkermes plc.'s stock ticker?
Alkermes plc. trades under the ticker ALKS on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Alkermes plc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Alkermes plc. reported revenue of $1.8B, 15.3% higher than a year earlier, according to its SEC filings.
What is Alkermes plc.'s free cash flow?
Alkermes plc.'s free-cash-flow margin is 13.0% of revenue over the trailing twelve months, ranking 30 of the 176 biotechnology companies we cover.
What is Alkermes plc.'s fair value (intrinsic value) per share?
Our discounted-cash-flow model of Alkermes plc.'s free cash flow after stock-based pay gives ~$39 per share in the base case, and ~$29–$53 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Alkermes plc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Baker Bros. Advisors LP and Vanguard Portfolio Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Alkermes plc.'s market cap?
On November 2, 2026, Alkermes plc.'s market capitalisation was about $7.7B and net debt of $880M. Market figures come from third-party market data and may be delayed.
How much debt does Alkermes plc. have?
Alkermes plc.'s debt-to-equity ratio is 80.3%, from its latest balance sheet (27.2% five years earlier). The financial health section below sets out its other solvency checks.
Who are Alkermes plc.'s competitors?
In our Biotechnology peer group, the companies closest to Alkermes plc. are Halozyme Therapeutics, Inc., Insmed Inc, Madrigal Pharmaceuticals, Inc., Moderna and Lakefront Biotherapeutics NV. The side-by-side comparison below sets their revenue, margins and growth against Alkermes plc.'s.
Are insiders buying or selling Alkermes plc. stock?
Over the last 12 months, Alkermes plc.'s directors and officers reported 0 open-market purchases and 33 sales on Form 4. The insider trading page charts every trade.
When is Alkermes plc.'s next earnings date?
Around November 3, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Alkermes plc. announces its own schedule.