SoFi shares rise as record revenue, member growth drive strong Q3 results
DUBLIN - On Tuesday, Alkermes plc (NASDAQ:ALKS) reported third quarter earnings that exceeded analyst expectations, and raised its full-year financial outlook on strong commercial performance.
The biopharmaceutical company’s shares were up 5.48% in pre-market trading after the release.
The company posted adjusted earnings per share of $0.49, significantly above the analyst estimate of $0.38. Revenue reached $394.2 million, surpassing the consensus estimate of $355.64 million and representing a 4.3% increase from $378.1 million in the same quarter last year.
Alkermes’ commercial portfolio showed robust growth across all key products. LYBALVI led with $98.2 million in quarterly revenue, a 32% increase YoY. ARISTADA generated $98.1 million, up 16% YoY, while VIVITROL contributed $121.1 million, growing 7% compared to the third quarter of 2024.
"Alkermes delivered another successful quarter, achieving strong revenue growth and robust profitability, fueled by focused execution and underlying demand across our commercial portfolio," said Richard Pops, Chief Executive Officer of Alkermes.
The company raised its 2025 financial expectations, now projecting total revenues between $1.43 billion and $1.49 billion, up from its previous guidance of $1.34 billion to $1.43 billion. GAAP net income is now expected to range from $230 million to $250 million, compared to the prior forecast of $175 million to $205 million.
During the quarter, Alkermes also advanced its development pipeline, highlighting progress in its orexin 2 receptor agonist program. The company recently announced its proposed acquisition of Avadel Pharmaceuticals as part of its strategy to become a leader in treating central disorders of hypersomnolence.
The company ended the quarter with a strong balance sheet, reporting $1.14 billion in cash, cash equivalents and investments, up from $1.05 billion at the end of the previous quarter.
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