- Alkermes' Q1 Revenue Beat Highlights 'Underappreciated' Core Business, RBC Says
May 6, 2026
Alkermes' (ALKS) better-than-expected Q1 revenue highlights the "underappreciated nature" of the com
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- Alkermes' Q1 Earnings & Revenues Beat Estimates, Stock Rises
May 6, 2026
Alkermes plc ALKS reported a loss of 40 cents per share for the first quarter of 2026, which was narrower than the Zacks Consensus Estimate of a loss of 57 cents. The company had recorded earnings of 13 cents per share in the year-ago quarter.
The company reported total revenues of $392.9 million for the first quarter, which increased 28.2% from the year-ago quarter owing to higher product sales. The top line also beat the Zacks Consensus Estimate of $359 million.
Owing to the better-than-expected first-quarter results, ALKS’ shares were up 6.1% yesterday.
The stock has rallied 29.5% in the year-to-date period against the industry’s decline of 2.4%.Zacks Investment Research
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ALKS’ Q1 Earnings in Detail
Alkermes derives revenues from the net sales of its proprietary products — Vivitrol (alcohol and opioid dependence), Aristada (schizophrenia), Lybalvi (schizophrenia and bipolar I disorder) and newly acquired sleep disorder drug, Lumryz. The metric also includes manufacturing and/or royalty revenues on net sales of products commercialized by partners.
Sales of the proprietary products portfolio grew 38.3% year over year to $338.1 million during the first quarter, driven by solid demand across the commercial portfolio. Sales of proprietary products were above management’s guided range of $300-$320 million.
Vivitrol sales increased 11.3% year over year to $112.4 million in the reported quarter. The metric beat the Zacks Consensus Estimate of $103 million.
Aristada sales increased 27.6% year over year to $93.8 million. The figure beat the Zacks Consensus Estimate of $78 million.
Lybalvi generated sales of $92.4 million, up 32% year over year in the reported quarter, due to increased total prescriptions. Its sales beat the Zacks Consensus Estimate of $87 million. Lybalvi’s total prescriptions grew 21% year over year in the quarter.
In February 2026, Alkermes completed the previously announced acquisition of Ireland-based Avadel Pharmaceuticals, which added the latter’s FDA-approved product, Lumryz, to its commercial portfolio.
Lumryz is approved as the first and only once-at-bedtime oxybate for extended-release oral suspension for the treatment of cataplexy or excessive daytime sleepiness in patients aged seven years and older with narcolepsy.
Lumryz recorded revenues worth $39.5 million in the period from Feb. 12, 2026, to March 31, 2026.
Total manufacturing and royalty revenues decreased around 11.6% year over year to $54.8 million.
Manufacturing and royalty revenues from Biogen’s multiple sclerosis drug, Vumerity, were $27.3 million. Royalty revenues from Xeplion and certain Invega products were $18 million in the first quarter.
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Research and development expenses totaled $103.3 million, up around 43.9% year over year, owing primarily to higher costs related to the ongoing studies on pipeline candidate, alixorexton.
Selling, general and administrative expenses totaled $264.6 million, up around 54.1% year over year, reflecting higher costs related to the acquisition of Avadel.
As of March 31, 2026, Alkermes had cash and cash equivalents of $538.2 million compared with $1.32 billion as of Dec. 31, 2025.
ALKS’ 2026 Guidance Reiterated
The company expects total revenues in the band of $1.73-$1.84 billion for 2026, unchanged from the previous expectation.
Per management, total revenues are expected to be primarily driven by net sales of proprietary products, including Lumryz sales.
Net sales of Vivitrol are expected to be in the band of $460-$480 million, while Aristada sales are anticipated in the range of $365-$385 million. Lybalvi’s net sales are expected in the $380-$400 million band.
Net sales from the newly acquired sleep disorder drug, Lumryz, are expected to be in the range of $315-$335 million in 2026.
Research and development expenses are anticipated in the range of $445-$485 million. Selling, general and administrative expenses are projected in the range of $890-$930 million.
The company expects adjusted EBITDA to be in the range of $370-$410 million.
Net sales from proprietary products are expected to be $385-$405 million for the second quarter of 2026.
ALKS Recent Pipeline Updates
Alkermes is developing alixorexton, a novel, investigational, oral, selective orexin 2 receptor agonist for the treatment of narcolepsy type 1 (NT1) and narcolepsy type 2 (NT2) and idiopathic hypersomnia (IH).
The company recently initiated the phase III Brilliance studies, evaluating the safety and efficacy of alixorexton versus placebo in adults with NT1 and NT2.
The program consists of three 12-week, placebo-controlled phase III studies evaluating once-daily and split-dose regimens of alixorexton.
Meanwhile, the phase II Vibrance-3 study continues to evaluate alixorexton for treating IH.
Alkermes plc Price, Consensus and EPS SurpriseAlkermes plc Price, Consensus and EPS Surprise
Alkermes plc price-consensus-eps-surprise-chart | Alkermes plc Quote
ALKS' Zacks Rank & Stocks to Consider
Alkermes currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the biotech sector are Agenus AGEN, Castle Biosciences CSTL and Amarin AMRN, each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Over the past 60 days, estimates for Agenus’ 2026 earnings per share have risen from 54 cents to $1.30, while loss per share estimates for 2027 have narrowed from $1.91 to $1.52 during the same time. AGEN shares have soared 32.8% year to date.
Agenus’ earnings beat estimates in two of the trailing four quarters, while missing the same on the remaining two occasions, with the average surprise being 31.42%.
Over the past 60 days, 2026 loss per share estimates for Castle Biosciences have narrowed from $1.42 to $1.40, while the same for 2027 have narrowed from 79 cents to 78 cents during the same time. CSTL stock has decreased 36.7% year to date.
Castle Biosciences’ earnings beat estimates in three of the trailing four quarters, while missing the same on the remaining occasion, with the average surprise being 34.69%.
Over the past 60 days, 2026 loss per share estimates for Amarin have narrowed from $7.01 to $6.36, while the same for 2027 have narrowed from $5.50 to $4.64 during the same time. AMRN stock has increased 3.9% year to date.
Amarin's earnings beat estimates in three of the trailing four quarters, while missing the same on the remaining occasion, with the average surprise being 50.02%.
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- Alkermes Analysts Increase Their Forecasts Following Strong Q1 Results
May 6, 2026 · benzinga.com
Alkermes (NASDAQ:ALKS) reported upbeat results for the first quarter on Tuesday.
- Alkermes' Q1 Earnings & Revenues Beat Estimates, Stock Rises
May 6, 2026 · zacks.com
ALKS beats Q1 estimates as strong proprietary drug sales lift revenues by 28%, sending shares higher, while Lumryz adds a fresh growth driver.
- Alkermes: A Sleep Medicine Platform Hidden Inside A Mature CNS Company
May 6, 2026 · seekingalpha.com
Alkermes is transitioning into an integrated neuroscience and sleep medicine company, highlighted by the Avadel acquisition and LUMRYZ integration. Q1 2026 results show proprietary product sales rising to $338.1M, with LUMRYZ contributing $39.5M post-acquisition; adjusted EBITDA improved to $80.3M. Management projects 2026 revenues of $1.73–$1.84B, with four commercial products each targeting over $300M in annual net sales.
- Alkermes plc Q1 2026 Earnings Call Summary
May 5, 2026
Alkermes plc Q1 2026 Earnings Call Summary - Moby
Strategic Performance and Portfolio Evolution
The acquisition of Avadel Pharmaceuticals and its once-nightly narcolepsy treatment, LUMRYZ, establishes an immediate commercial footprint in sleep medicine ahead of future pipeline launches. Proprietary product net sales grew 38% year-over-year, driven by strong demand in psychiatry and addiction franchises alongside favorable gross-to-net adjustments. Management views Eli Lilly's entry into the orexin space as external validation of the pathway's broad scientific and commercial potential beyond sleep disorders. The commercial organization has evolved into three distinct categories: addiction (VIVITROL), psychiatry (ARISTADA/LYBALVI), and sleep medicine (LUMRYZ). Strategic positioning in sleep medicine is intended to build relationships with specialists now to accelerate the potential future launch trajectory of Alixorexton. Performance in the VIVITROL franchise continues to be driven by localized market dynamics across specific states and payer systems. The company maintains a focus on disciplined execution and increasing scale to drive shareholder value through a diversified portfolio of differentiated medicines.
Development Strategy and Financial Outlook
The Alixorexton Phase III Brilliance program is now enrolling narcolepsy type 1 and type 2 patients, with a focus on high-quality execution to support competitive positioning. Expansion into ADHD and fatigue represents a strategic pivot to leverage Orexin 2 receptor agonists in populations with intact orexin systems. Full-year 2026 guidance for LUMRYZ net sales is set at $350 million to $370 million, with Alkermes recording the portion following the mid-February acquisition close. Management expects to pay down the $1.525 billion term loan quickly using significant operating cash flows generated by the expanded business. The Vibrance-3 Phase II study in idiopathic hypersomnia is on track for completion in Q4 2026, including a split-dose cohort to evaluate wakefulness durability.
Acquisition Accounting and Risk Factors
Refinements to purchase price accounting for the Avadel acquisition improved full-year GAAP net loss and EBITDA expectations due to lower non-cash expense estimates. The 2026 cost of goods sold includes a $105 million inventory fair value step-up charge related to LUMRYZ inventory held at the time of closing. Management noted that while Teva may enter the VIVITROL market in 2027, they do not expect typical generic erosion due to the product's complex manufacturing and high-touch commercial requirements. The company recorded $55 million in one-time transaction and share-based compensation costs associated with closing the Avadel acquisition in Q1.
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Q&A Session Highlights
Strategic rationale for Orexin 2 receptor agonists in ADHD
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Preclinical models showed orexin agonists performed as well as or better than stimulants as monotherapy, specifically improving acetylcholine levels in the prefrontal cortex. The goal is to provide stimulant-level efficacy with a more tolerable profile and lower abuse potential than current standard-of-care amphetamines.
Competitive positioning of Alixorexton versus other orexin programs
Alkermes claims a widening lead in narcolepsy type 2 (NT2) development, noting they have the only program with multi-week successful data in this population. The Phase III program is designed with a range of doses and split-dosing options to allow for personalized treatment based on individual patient lifestyles.
Impact of generic sodium oxybate on LUMRYZ commercial performance
Management has not seen any impact from multisource generics of Xyrem on LUMRYZ demand, physician behavior, or payer dynamics. LUMRYZ's once-nightly differentiation is viewed as a durable advantage that attracts a diverse mix of new, switching, and returning oxybate patients.
Development of valiloxybate as a next-generation sleep asset
Alkermes is leveraging its formulation expertise to assess multiple formulations of valiloxybate, aiming for a no-salt, once-nightly product. Clinical data will determine whether the company can pursue a rapid bridging strategy or if a full Phase III program will be required.
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- Alkermes plc (ALKS) Q1 2026 Earnings Call Transcript
May 5, 2026 · seekingalpha.com
Alkermes plc (ALKS) Q1 2026 Earnings Call Transcript
- Alkermes (ALKS) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
May 5, 2026
For the quarter ended March 2026, Alkermes (ALKS) reported revenue of $392.91 million, up 28.2% over the same period last year. EPS came in at -$0.40, compared to $0.13 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $358.83 million, representing a surprise of +9.5%. The company delivered an EPS surprise of +30.31%, with the consensus EPS estimate being -$0.57.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Alkermes performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenues- Proprietary Sales- ARISTADA: $93.8 million versus the two-analyst average estimate of $77.95 million. The reported number represents a year-over-year change of +27.6%. Revenues- Manufacturing and Royalty Revenues- VUMERITY: $27.3 million versus the two-analyst average estimate of $21.8 million. The reported number represents a year-over-year change of -1.8%. Revenues- Product sales, net: $338.11 million compared to the $306.85 million average estimate based on two analysts. The reported number represents a change of +38.3% year over year. Revenues- Proprietary Sales- VIVITROL: $112.4 million versus the two-analyst average estimate of $102.5 million. The reported number represents a year-over-year change of +11.3%. Revenues- Manufacturing and Royalty revenues: $54.8 million versus $47.3 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -11.6% change. Revenues- Proprietary Sales- LYBALVI: $92.4 million versus $86.9 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +32% change.
View all Key Company Metrics for Alkermes here>>>
Shares of Alkermes have returned +0.3% over the past month versus the Zacks S&P 500 composite's +9.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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- Alkermes (ALKS) Reports Q1 Loss, Beats Revenue Estimates
May 5, 2026
Alkermes (ALKS) came out with a quarterly loss of $0.4 per share versus the Zacks Consensus Estimate of a loss of $0.57. This compares to earnings of $0.13 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +30.31%. A quarter ago, it was expected that this drugmaker would post earnings of $0.43 per share when it actually produced earnings of $0.46, delivering a surprise of +6.98%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Alkermes, which belongs to the Zacks Medical - Biomedical and Genetics industry, posted revenues of $392.91 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 9.50%. This compares to year-ago revenues of $306.51 million. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Alkermes shares have added about 22.1% since the beginning of the year versus the S&P 500's gain of 5.2%.
What's Next for Alkermes?
While Alkermes has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Alkermes was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.15 on $454.32 million in revenues for the coming quarter and -$0.69 on $1.79 billion in revenues for the current fiscal year.
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Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Biomedical and Genetics is currently in the bottom 42% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Alector (ALEC), another stock in the same industry, has yet to report results for the quarter ended March 2026.
This biotechnology company is expected to post quarterly loss of $0.35 per share in its upcoming report, which represents a year-over-year change of +14.6%. The consensus EPS estimate for the quarter has been revised 8% lower over the last 30 days to the current level.
Alector's revenues are expected to be $3 million, down 18.3% from the year-ago quarter.
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- Alkermes plc Reports First Quarter 2026 Financial Results
May 5, 2026
DUBLIN, May 05, 2026--(BUSINESS WIRE)--Alkermes plc (Nasdaq: ALKS) today reported financial results for the quarter ended March 31, 2026 and financial expectations for full year 2026. To view the detailed first quarter 2026 earnings press release and presentation, please visit the company’s investor relations website at https://investor.alkermes.com.
Alkermes will host a conference call and webcast presentation at 8:00 a.m. ET (1:00 p.m. BST) today to discuss these financial results and expectations and provide an update on the company. The webcast may be accessed on the Investors section of Alkermes’ website at https://investor.alkermes.com. The conference call may be accessed by dialing +1 877 407 2988 for U.S. callers and +1 201 389 0923 for international callers. In addition, a replay of the conference call may be accessed by visiting Alkermes’ website.
About Alkermes plc
Alkermes plc, a mid-cap growth and value equity, is a global biopharmaceutical company that seeks to develop innovative medicines in the field of neuroscience. The company has a portfolio of proprietary commercial products for the treatment of alcohol dependence, opioid dependence, schizophrenia, bipolar I disorder and narcolepsy. Alkermes’ pipeline includes late-stage clinical candidates in development for narcolepsy and idiopathic hypersomnia, and orexin 2 receptor agonists in early clinical development for other neurological disorders, including attention-deficit hyperactivity disorder (ADHD) and fatigue associated with multiple sclerosis and Parkinson’s disease. Headquartered in Ireland, Alkermes also has a corporate office and research and development center in Massachusetts and a manufacturing facility in Ohio. For more information, please visit Alkermes’ website at www.alkermes.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260505070171/en/
Contacts
Alkermes Contacts:
For Investors: Sandy Coombs +1 781 609 6377
For Media: Katie Joyce +1 781 249 8927
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