Alkermes Plc Raises 2022 Guidance

Alkermes plc (ALKS) said, for fiscal 2022, the company now expects non-GAAP earnings per share in a range of $0.09 - $0.27. Previously, the company projected between a loss of $0.18 and breakeven per share. Total revenue is now expected in between $1.05 - $1.12 billion. Previously, the company expected revenue between $1.00 and $1.09 billion.

Second quarter non-GAAP net income was $10.5 million, or $0.06 per share compared to $49.2 million or $0.30 per share, last year. On average, seven analysts polled by Thomson Reuters expected the company to report profit per share of $0.01, for the quarter. Analysts' estimates typically exclude special items.

Net loss according to GAAP was $30.1 million for the quarter, or a GAAP loss per share of $0.18 compared to GAAP net income of $2.4 million, or profit per share of $0.01, prior year.

Total revenues for the quarter were $276.2 million, compared to $303.7 million, prior year.

Shares of Alkermes are up 2% in pre-market trade on Wednesday.

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