Equity Profile

ALKS

Alkermes plc

Health CareBiotechnology$7.0B

Jul28Tue

Pre-Earnings Brief

UpcomingQ2-2026Pre-Market9:00 AM EDT

Company Snapshot

Alkermes plc (ALKS) is a biotechnology company focused on developing innovative medicines for patients with serious mental health and addiction disorders. With a market cap of $7 billion, the company plays a significant role in the healthcare sector, particularly in addressing unmet medical needs in mental health treatment.

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and financial health, which investors closely monitor.

N/A

Revenue Growth

Revenue growth reflects the company's ability to expand its market presence and sales, crucial for future investments.

N/A

Wall Street expectations, options signals, track record, and call prep available with Pro.

ALKS Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

75%

Avg EPS Surprise

+20.09%

Avg Stock Reaction

+2.52%

Last Quarter Recap

In Q1-2026, Alkermes reported an EPS of -$0.40, outperforming expectations by 30.31%. The stock reacted positively, gaining 6.09% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Investors are cautiously optimistic ahead of Alkermes' Q2-2026 earnings report, especially given the company's recent performance. However, the lack of analyst estimates adds uncertainty.

Bull Case

If Alkermes can continue to beat EPS expectations as it has in the past, it may signal strong operational efficiency and market demand for its products.

Bear Case

Conversely, if the company fails to meet expectations or provides weak guidance, it could lead to a significant decline in stock price, especially given the high implied volatility.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the EPS for Q2-2026?

EPS is a critical measure of profitability, and a significant surprise could influence investor sentiment and stock price.

What guidance will management provide for the upcoming quarters?

Future guidance will give investors insight into the company's growth strategy and potential challenges, impacting long-term investment decisions.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Alkermes' ability to deliver a significant EPS surprise based on its recent operational improvements.

Supporting Evidence

Alkermes has a 75% EPS beat rate over the last eight quarters, indicating a strong track record.

The company's recent positive stock reactions following earnings surprises suggest a potential for continued positive sentiment.

Options pricing indicates a higher expected move than historical averages, suggesting that investors are anticipating volatility.

Key Risk

If the EPS comes in above -$0.30, it could challenge the current cautious sentiment in the market.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is weighing the potential for continued earnings surprises against the backdrop of high expectations and historical performance.

Bull Confirmed If

A positive EPS surprise of over $0.10 would confirm strong operational performance.

Bear Confirmed If

An EPS below -$0.50 could indicate ongoing challenges in profitability.

Pre-Earnings Positioning

Options Market

Implied Move

±17.54%

Historical Avg

±5.2%

Pricing rich

The options market is pricing in a significant move, suggesting that investors expect volatility around the earnings announcement.

Options are pricing ±17.5% while ALKS has averaged ±5.2% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.5%

30d HV

39.7%

Calls (28K)P/C Ratio: 0.04Puts (15K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Alkermes beats expectations, history suggests a potential stock increase of around +3.49%, confirming the company's positive momentum.

In-Line / Cautious

If results are in line with expectations, the stock may experience muted movement as investors await further guidance.

Miss

A miss could lead to a decline of approximately -0.37%, reflecting disappointment in the company's performance.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on new product launches or pipeline developments.
2Management's commentary on market conditions and competitive landscape.
3Insights into cost management and operational efficiency improvements.
4Guidance on revenue expectations for the next quarter.
5Responses to analyst questions regarding long-term growth strategies.

See the full picture

AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

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Company Snapshot

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and financial health, which investors closely monitor.

N/A

Revenue Growth

Revenue growth reflects the company's ability to expand its market presence and sales, crucial for future investments.

N/A

Wall Street expectations, options signals, track record, and call prep available with Pro.

ALKS Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

75%

Avg EPS Surprise

+20.09%

Avg Stock Reaction

+2.52%

Last Quarter Recap

In Q1-2026, Alkermes reported an EPS of -$0.40, outperforming expectations by 30.31%. The stock reacted positively, gaining 6.09% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Investors are cautiously optimistic ahead of Alkermes' Q2-2026 earnings report, especially given the company's recent performance. However, the lack of analyst estimates adds uncertainty.

Bull Case

If Alkermes can continue to beat EPS expectations as it has in the past, it may signal strong operational efficiency and market demand for its products.

Bear Case

Conversely, if the company fails to meet expectations or provides weak guidance, it could lead to a significant decline in stock price, especially given the high implied volatility.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the EPS for Q2-2026?

EPS is a critical measure of profitability, and a significant surprise could influence investor sentiment and stock price.

What guidance will management provide for the upcoming quarters?

Future guidance will give investors insight into the company's growth strategy and potential challenges, impacting long-term investment decisions.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Alkermes' ability to deliver a significant EPS surprise based on its recent operational improvements.

Supporting Evidence

Alkermes has a 75% EPS beat rate over the last eight quarters, indicating a strong track record.

The company's recent positive stock reactions following earnings surprises suggest a potential for continued positive sentiment.

Options pricing indicates a higher expected move than historical averages, suggesting that investors are anticipating volatility.

Key Risk

If the EPS comes in above -$0.30, it could challenge the current cautious sentiment in the market.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is weighing the potential for continued earnings surprises against the backdrop of high expectations and historical performance.

Bull Confirmed If

A positive EPS surprise of over $0.10 would confirm strong operational performance.

Bear Confirmed If

An EPS below -$0.50 could indicate ongoing challenges in profitability.

Pre-Earnings Positioning

Options Market

Implied Move

±17.54%

Historical Avg

±5.2%

Pricing rich

The options market is pricing in a significant move, suggesting that investors expect volatility around the earnings announcement.

Options are pricing ±17.5% while ALKS has averaged ±5.2% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.5%

30d HV

39.7%

Calls (28K)P/C Ratio: 0.04Puts (15K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Alkermes beats expectations, history suggests a potential stock increase of around +3.49%, confirming the company's positive momentum.

In-Line / Cautious

If results are in line with expectations, the stock may experience muted movement as investors await further guidance.

Miss

A miss could lead to a decline of approximately -0.37%, reflecting disappointment in the company's performance.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on new product launches or pipeline developments.
2Management's commentary on market conditions and competitive landscape.
3Insights into cost management and operational efficiency improvements.
4Guidance on revenue expectations for the next quarter.
5Responses to analyst questions regarding long-term growth strategies.