Equity Profile

ALKS

Alkermes plc

Health CareBiotechnology$8.6B

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 people with serious mental health conditions and addiction. With a market cap of $9 billion, its work is crucial in addressing pressing health care needs in the mental health sector.

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 product offerings, which is vital for long-term success.

N/A

1 more metrics, 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, which was better than the expected -$0.57, resulting in a positive stock reaction of +6.09% the next day. However, revenue figures were not disclosed, leaving some uncertainty.

Management Promises & Guidance

Focus on advancing key drug candidates.
Commitment to improving operational efficiency.
Plans to enhance partnerships to expand market reach.

Expectations

Wall Street Expectations

Overall, expectations are mixed as investors look for signs of recovery and growth following a challenging period. The stock has shown volatility in response to earnings surprises in the past.

Bull Case

If Alkermes can demonstrate strong revenue growth and successful drug approvals, it could signal a turnaround and drive the stock higher.

Bear Case

Conversely, if the company fails to meet expectations or provides weak guidance, it may lead to a decline in investor confidence and stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the update on key drug candidates and their approval status?

This information will be crucial for understanding future revenue potential and market positioning.

How is the company addressing operational efficiency and cost management?

Investors will want to know how Alkermes plans to improve profitability amid ongoing challenges.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the potential for Alkermes' drug candidates to gain approval and drive significant revenue growth, especially given recent positive trends in mental health treatments.

Supporting Evidence

Alkermes has a strong history of beating EPS estimates, suggesting potential for positive surprises.

The options market indicates high volatility, which could reflect investor anticipation of significant news.

Recent trends in mental health drug approvals may favor Alkermes' pipeline.

Key Risk

If the company announces a major drug approval, it could significantly shift market sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is weighing the potential for growth against operational challenges, making these triggers critical.

Bull Confirmed If

A positive update on drug approvals and a revenue growth rate above 10% would confirm the bull case.

Bear Confirmed If

Any indication of delays in drug approvals or a revenue decline would confirm the bear case.

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 and raises guidance, history suggests a stock increase of around +3.49% on the next trading day.

In-Line / Cautious

If results are in line but management provides cautious commentary, the stock may experience muted movement.

Miss

If the company misses expectations, history suggests a potential decline of around -0.37% on the next trading day.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on the approval status of key drug candidates.
2Any commentary on revenue growth projections.
3Insights into operational efficiency improvements.
4Details on partnerships and collaborations.
5Management's outlook on market trends in mental health.

See the full picture

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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 product offerings, which is vital for long-term success.

N/A

1 more metrics, 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

Management Promises & Guidance

Focus on advancing key drug candidates.
Commitment to improving operational efficiency.
Plans to enhance partnerships to expand market reach.

Expectations

Wall Street Expectations

Overall, expectations are mixed as investors look for signs of recovery and growth following a challenging period. The stock has shown volatility in response to earnings surprises in the past.

Bull Case

If Alkermes can demonstrate strong revenue growth and successful drug approvals, it could signal a turnaround and drive the stock higher.

Bear Case

Conversely, if the company fails to meet expectations or provides weak guidance, it may lead to a decline in investor confidence and stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the update on key drug candidates and their approval status?

This information will be crucial for understanding future revenue potential and market positioning.

How is the company addressing operational efficiency and cost management?

Investors will want to know how Alkermes plans to improve profitability amid ongoing challenges.

Edge

What the Street Is Missing

Why consensus could be wrong

Supporting Evidence

Alkermes has a strong history of beating EPS estimates, suggesting potential for positive surprises.

The options market indicates high volatility, which could reflect investor anticipation of significant news.

Recent trends in mental health drug approvals may favor Alkermes' pipeline.

Key Risk

If the company announces a major drug approval, it could significantly shift market sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is weighing the potential for growth against operational challenges, making these triggers critical.

Bull Confirmed If

A positive update on drug approvals and a revenue growth rate above 10% would confirm the bull case.

Bear Confirmed If

Any indication of delays in drug approvals or a revenue decline would confirm the bear case.

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 and raises guidance, history suggests a stock increase of around +3.49% on the next trading day.

In-Line / Cautious

If results are in line but management provides cautious commentary, the stock may experience muted movement.

Miss

If the company misses expectations, history suggests a potential decline of around -0.37% on the next trading day.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on the approval status of key drug candidates.
2Any commentary on revenue growth projections.
3Insights into operational efficiency improvements.
4Details on partnerships and collaborations.
5Management's outlook on market trends in mental health.