Alkermes rises on Q4 revenue estimates beat

Alkermes

15/02/2024 15:33

** Drugmaker Alkermes shares  ALKS.O  rise 8.5% to $30.4 
    ** Co reports revenue of $377.5 million vs estimates of $362
mln - LSEG data
    ** ALKS expects to record sales of $1.5 billion to $1.6
billion in 2024 vs estimates were $1.52 bln
    ** Q4 profit was 22 cents per share, below estimates of 51
cents per share  
    ** Co's board approved a new share repurchase program of up
to $400 mln 
    ** As of Dec. 31, co recorded cash, cash equivalents of
$813.4 mln vs $740.1 mln last year
    ** Including session gains, stock had risen ~12% in lat 12
months

 (Reporting by Khushi Mandowara in Bengaluru)
 ((Khushi.Mandowara@thomsonreuters.com;))