Equity Profile

ALKS

Alkermes plc

Health CareBiotechnology$8.3B

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 illness and addiction. With a market cap of $8 billion, it plays a significant role in the healthcare sector, particularly as mental health awareness grows and new treatment options are sought.

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of profitability, and investors will look for signs of improvement or continued losses.

N/A

Revenue Growth

Revenue figures will provide insight into the company's market performance and acceptance of its products.

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 the last quarter (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 details were not disclosed, leaving some uncertainty.

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall, expectations for Alkermes are mixed as there are no analyst estimates available, leaving investors uncertain about the company's performance. The stock has shown volatility in past earnings reports, which could lead to significant movement post-announcement.

Bull Case

The optimistic view is that Alkermes will continue its trend of beating EPS estimates, potentially leading to a strong stock performance and renewed investor confidence in its growth strategy.

Bear Case

Conversely, if the company fails to show improvement in EPS or revenue, it could lead to a negative reaction from the market, particularly given the high implied move priced into options.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the EPS figure be this quarter?

Given the company's recent performance, a significant EPS figure could indicate a turnaround or continued struggles, heavily influencing stock movement.

How is revenue trending compared to previous quarters?

Investors will be keen to understand revenue growth as it reflects the market acceptance of Alkermes' products and overall business health.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Alkermes' ability to recover from recent losses, especially given its recent EPS surprise of +30.31%.

Supporting Evidence

The company has a strong track record of beating EPS estimates, with a 75% success rate over the last eight quarters.

Options are pricing in a larger move than the historical average, suggesting traders expect significant volatility.

The recent positive stock reaction following earnings surprises indicates potential for continued investor interest.

Key Risk

If the EPS comes in above -$0.40, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter revolves around whether Alkermes can maintain its momentum in profitability and revenue growth.

Bull Confirmed If

An EPS of $0.10 or better would confirm the bull case and suggest a strong recovery.

Bear Confirmed If

An EPS of -$0.50 or worse would confirm the bear case, indicating ongoing challenges.

Pre-Earnings Positioning

Options Market

Implied Move

±17.54%

Historical Avg

±5.2%

Pricing rich

The options market is pricing in a significant move, indicating that traders 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)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Health Care

n=30

Fade rate: 13 of 29 (45%)

This setup has occurred 30 times across Health Care in the last 2 years. 13 of 29 faded and 16 held — no strong directional bias after the initial reaction. The average absolute 1-day move is 5.5%, with a raw directional average of +2.9% (modestly positive historical bias).

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Alkermes beats expectations, history suggests the stock could rise by about +3.49%, confirming a positive outlook for the company.

In-Line / Cautious

If results are in line with expectations, the stock may experience a muted reaction as investors await further clarity on future guidance.

Miss

A miss on EPS could lead to a decline of around -0.37%, reflecting investor disappointment and concerns about the company's trajectory.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on new product launches or pipeline developments.
2Details on market share and competition in the mental health sector.
3Insights into cost management and operational efficiency.
4Guidance on future revenue expectations and growth strategies.
5Management's outlook on regulatory changes affecting the industry.

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 profitability, and investors will look for signs of improvement or continued losses.

N/A

Revenue Growth

Revenue figures will provide insight into the company's market performance and acceptance of its products.

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

Expectations

Wall Street Expectations

Bull Case

The optimistic view is that Alkermes will continue its trend of beating EPS estimates, potentially leading to a strong stock performance and renewed investor confidence in its growth strategy.

Bear Case

Conversely, if the company fails to show improvement in EPS or revenue, it could lead to a negative reaction from the market, particularly given the high implied move priced into options.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the EPS figure be this quarter?

Given the company's recent performance, a significant EPS figure could indicate a turnaround or continued struggles, heavily influencing stock movement.

How is revenue trending compared to previous quarters?

Investors will be keen to understand revenue growth as it reflects the market acceptance of Alkermes' products and overall business health.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Alkermes' ability to recover from recent losses, especially given its recent EPS surprise of +30.31%.

Supporting Evidence

The company has a strong track record of beating EPS estimates, with a 75% success rate over the last eight quarters.

Options are pricing in a larger move than the historical average, suggesting traders expect significant volatility.

The recent positive stock reaction following earnings surprises indicates potential for continued investor interest.

Key Risk

If the EPS comes in above -$0.40, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter revolves around whether Alkermes can maintain its momentum in profitability and revenue growth.

Bull Confirmed If

An EPS of $0.10 or better would confirm the bull case and suggest a strong recovery.

Bear Confirmed If

An EPS of -$0.50 or worse would confirm the bear case, indicating ongoing challenges.

Pre-Earnings Positioning

Options Market

Implied Move

±17.54%

Historical Avg

±5.2%

Pricing rich

The options market is pricing in a significant move, indicating that traders 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)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Health Care

n=30

Fade rate: 13 of 29 (45%)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Alkermes beats expectations, history suggests the stock could rise by about +3.49%, confirming a positive outlook for the company.

In-Line / Cautious

If results are in line with expectations, the stock may experience a muted reaction as investors await further clarity on future guidance.

Miss

A miss on EPS could lead to a decline of around -0.37%, reflecting investor disappointment and concerns about the company's trajectory.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on new product launches or pipeline developments.
2Details on market share and competition in the mental health sector.
3Insights into cost management and operational efficiency.
4Guidance on future revenue expectations and growth strategies.
5Management's outlook on regulatory changes affecting the industry.