Equity Profile

ALKS

Alkermes plc

Health CareBiotechnology$7.0B

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 health and addiction disorders. With a market cap of $7 billion, Alkermes plays a significant role in the healthcare sector, particularly as mental health issues gain more attention and funding.

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 sales, crucial 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, outperforming estimates by 30.31%. The stock reacted positively, gaining 6.09% the following day.

Management Promises & Guidance

Continued focus on advancing key pipeline products.
Commitment to improving operational efficiency.
Plans to enhance market access for existing therapies.

Expectations

Wall Street Expectations

Investors are cautiously optimistic ahead of the earnings report, given the company's recent performance and historical EPS beats. However, uncertainty remains regarding revenue growth and product pipeline developments.

Bull Case

If Alkermes can demonstrate strong revenue growth and positive updates on its product pipeline, it could lead to significant stock appreciation, building on its history of EPS surprises.

Bear Case

Conversely, if the company fails to meet expectations for revenue growth or provides negative updates on its pipeline, it could lead to a decline in stock price, particularly given the high implied volatility.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the expected revenue growth for the upcoming quarter?

Revenue growth is critical for assessing the company's ability to sustain operations and invest in future developments.

Are there any updates on the product pipeline, particularly for key therapies?

Updates on the product pipeline can significantly influence investor confidence and stock performance.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate the potential for Alkermes to exceed revenue expectations due to strong demand for its key therapies, which could lead to a positive surprise.

Supporting Evidence

The company's recent history of beating EPS estimates suggests a potential for continued strong performance.

Options pricing indicates a significant move, which may reflect underlying bullish sentiment not captured in consensus estimates.

Key Risk

If revenue growth exceeds expectations, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core thesis revolves around the company's ability to grow revenue and advance its product pipeline, which are crucial for its long-term success.

Bull Confirmed If

Demonstrating revenue growth of 15% or more compared to the previous quarter would confirm the bull case.

Bear Confirmed If

Failing to achieve revenue growth or reporting a 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 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 and raises guidance, history suggests a potential stock increase of around 3.49% based on past performance.

In-Line / Cautious

If results are in line with expectations 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%, reflecting investor disappointment.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on the revenue growth trajectory for key products.
2Any new data regarding the efficacy of pipeline therapies.
3Management's outlook on market conditions affecting sales.
4Insights into operational efficiencies and cost management.
5Discussion on competitive landscape and market share.

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 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 sales, crucial 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, outperforming estimates by 30.31%. The stock reacted positively, gaining 6.09% the following day.

Management Promises & Guidance

Continued focus on advancing key pipeline products.
Commitment to improving operational efficiency.
Plans to enhance market access for existing therapies.

Expectations

Wall Street Expectations

Bull Case

If Alkermes can demonstrate strong revenue growth and positive updates on its product pipeline, it could lead to significant stock appreciation, building on its history of EPS surprises.

Bear Case

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the expected revenue growth for the upcoming quarter?

Revenue growth is critical for assessing the company's ability to sustain operations and invest in future developments.

Are there any updates on the product pipeline, particularly for key therapies?

Updates on the product pipeline can significantly influence investor confidence and stock performance.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate the potential for Alkermes to exceed revenue expectations due to strong demand for its key therapies, which could lead to a positive surprise.

Supporting Evidence

The company's recent history of beating EPS estimates suggests a potential for continued strong performance.

Options pricing indicates a significant move, which may reflect underlying bullish sentiment not captured in consensus estimates.

Key Risk

If revenue growth exceeds expectations, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core thesis revolves around the company's ability to grow revenue and advance its product pipeline, which are crucial for its long-term success.

Bull Confirmed If

Demonstrating revenue growth of 15% or more compared to the previous quarter would confirm the bull case.

Bear Confirmed If

Failing to achieve revenue growth or reporting a 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 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 and raises guidance, history suggests a potential stock increase of around 3.49% based on past performance.

In-Line / Cautious

If results are in line with expectations 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%, reflecting investor disappointment.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on the revenue growth trajectory for key products.
2Any new data regarding the efficacy of pipeline therapies.
3Management's outlook on market conditions affecting sales.
4Insights into operational efficiencies and cost management.
5Discussion on competitive landscape and market share.