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Alkermes: 3Q Earnings Snapshot

October 23, 2019 GMT

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.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ALKS at https://www.zacks.com/ap/ALKS