Alkermes: 3Q Earnings Snapshot
DUBLIN (AP) _ Alkermes PLC (ALKS) on Wednesday reported a loss of $52.9 million in its third quarter.
On a per-share basis, the Dublin-based company said it had a loss of 34 cents. Losses, adjusted for stock option expense and amortization costs, came to 4 cents per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 20 cents per share.
The drugmaker posted revenue of $255.2 million in the period, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $252.7 million.
Alkermes expects full-year earnings to be 50 cents per share.
Alkermes shares have decreased 37% since the beginning of the year. The stock has fallen 53% in the last 12 months.