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Alkermes plc ALKS reported adjusted earnings from continuing operations of 46 cents per share for the fourth quarter of 2025, which beat the Zacks Consensus Estimate of 43 cents. The company registered earnings of $1.04 per share in the year-ago quarter.
However, excluding certain special items and expenses, the company reported earnings from continuing operations of 29 cents per share in the fourth quarter compared with 88 cents reported in the year-ago quarter.
Alkermes’ total revenues of $384.5 million in the fourth quarter decreased 10.6% from the year-ago quarter due to lower manufacturing and royalty revenues. The top line, however, beat the Zacks Consensus Estimate of $380 million.
Despite the better-than-expected fourth-quarter results, ALKS’ shares were down 7% yesterday.
In the past six months, shares of Alkermes have gained 7.1% compared with the industry’s rise of 23%.
Alkermes derives revenues from the net sales of its proprietary products — Vivitrol (alcohol and opioid dependence), Aristada (schizophrenia) and Lybalvi (schizophrenia and bipolar I disorder). The metric also includes manufacturing and/or royalty revenues on net sales of products commercialized by partners.
Sales of the proprietary products portfolio grew 2.5% year over year to $315.5 million during the fourth quarter, driven by strong demand for Lybalvi. Sales of proprietary products were within management’s guided range of $300-$320 million.
Vivitrol sales decreased 7.5% year over year to $124.1 million in the reported quarter. The metric beat the Zacks Consensus Estimate of $122 million.
Aristada sales increased 0.6% year over year to $97.2 million. The figure beat the Zacks Consensus Estimate of $94 million.
Lybalvi generated sales of $94.1 million, up 22.2% year over year in the reported quarter, due to increased total prescriptions. Its sales were in line with the Zacks Consensus Estimate. Lybalvi’s total prescriptions grew 25% year over year in the quarter.
Total manufacturing and royalty revenues decreased around 43.4% year over year to $69.1 million.
Manufacturing and royalty revenues from Biogen’s multiple sclerosis drug, Vumerity, were $27.6 million. Royalty revenues from Xeplion and certain Invega products were $31.3 million in the fourth quarter.
Research and development expenses totaled $93 million, up around 59.8% year over year, owing primarily to higher costs related to the ongoing studies on pipeline candidate, alixorexton.
Selling, general and administrative expenses totaled $187.2 million, up around 27.3% year over year.
As of Dec. 31, 2025, Alkermes had cash and cash equivalents of $1.32 billion compared with $1.14 billion on Sept. 30, 2025.
For 2025, Alkermes generated revenues of $1.48 billion, which reflected a 5.1% decline year over year.
For the same period, the company reported earnings from continuing operations of $1.43 per share, down from $2.20 in the year-ago period.
The company expects total revenues in the band of $1.73-$1.84 billion for 2026.
Per management, total revenues are expected to be primarily driven by net sales of proprietary products, which are expected to be in the range of $1.52-$1.60 billion in 2026.
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 in the range of $315-$335 million in 2026.
Research and development expenses are anticipated in the band 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.
In a separate press release, Alkermes announced that its current chief executive officer (“CEO”), Richard Pops, will retire from his role with effect from July 31, 2026. The board has appointed Blair Jackson, the company’s current chief operating officer, as its next CEO, starting Aug. 1, 2026.
Earlier this month, 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.
Alkermes is developing alixorexton, a novel, investigational, oral, selective orexin 2 receptor agonist for the treatment of narcolepsy type 1 and type 2 and idiopathic hypersomnia.
The company plans to begin the phase III studies evaluating alixorexton in narcolepsy later in the first quarter of 2026.
Alkermes plc price-consensus-eps-surprise-chart | Alkermes plc Quote
Alkermes currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the biotech sector are Castle Biosciences CSTL, Arcus Biosciences RCUS and ADMA Biologics ADMA. While Castle Biosciences currently sports a Zacks Rank #1 (Strong Buy), Arcus Biosciences and ADMA Biologics hold a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.
Over the past 60 days, Castle Biosciences’ 2026 loss per share estimates have narrowed from $1.06 to 96 cents. CSTL’s shares have rallied 44% over the past six months.
Castle Biosciences’ earnings beat estimates in three of the trailing four quarters and missed in the remaining one, with the average surprise being 66.11%.
Over the past 60 days, Arcus Biosciences’ 2026 earnings per share estimates have narrowed from $3.90 to $3.86. RCUS’ shares have soared 95.3% in the past six months.
Arcus Biosciences’ earnings beat estimates in three of the trailing four quarters and missed on one occasion, with the average surprise being 26.18%.
Over the past 60 days, estimates for ADMA Biologics’ 2026 earnings per share have increased from 82 cents to 85 cents. ADMA’s shares have fallen 8.3% in the past six months.
ADMA Biologics’ earnings beat estimates in one of the trailing four quarters, met once and missed in the remaining two quarters, with the average negative surprise being 3.01%.
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This article originally published on Zacks Investment Research (zacks.com).
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