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ALKS

Alkermes plc

ALKS

Alkermes plc • NASDAQ
$29.58 ▼ -0.47% (-0.14)
Market Cap $4.88 B
52w High $36.45
52w Low $25.17
Dividend Yield 0%
P/E 14.72
Volume 1.12M
Outstanding Shares 165.12M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $394.185M ▲ $253.512M ▲ $82.761M ▼ 20.995% ▼ $0.5 ▼ $108.825M ▼
Q2-2025 $390.657M ▲ $248.219M ▲ $87.098M ▲ 22.295% ▲ $0.53 ▲ $112.657M ▲
Q1-2025 $306.51M ▼ $243.521M ▲ $22.464M ▼ 7.329% ▼ $0.14 ▼ $32.91M ▼
Q4-2024 $429.986M ▲ $205.182M ▼ $146.503M ▲ 34.072% ▲ $0.9 ▲ $181.384M ▲
Q3-2024 $378.143M $210.288M $92.381M 24.43% $0.57 $123.202M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.111B ▲ $2.33B ▲ $596.08M ▼ $1.733B ▲
Q2-2025 $1.016B ▲ $2.253B ▲ $628.225M ▲ $1.625B ▲
Q1-2025 $884.017M ▲ $2.082B ▲ $570.394M ▼ $1.512B ▲
Q4-2024 $751.668M ▼ $2.056B ▼ $590.59M ▼ $1.465B ▲
Q3-2024 $908.864M $2.155B $863.185M $1.292B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $82.761M ▼ $101.672M ▼ $-6.737M ▲ $315K ▼ $95.25M ▼ $84.358M ▼
Q2-2025 $87.098M ▲ $150.202M ▲ $-29.214M ▼ $405K ▼ $121.393M ▲ $137.186M ▲
Q1-2025 $22.464M ▼ $98.811M ▼ $9.102M ▲ $747K ▲ $108.66M ▲ $88.701M ▼
Q4-2024 $146.503M ▲ $190.397M ▲ $-13.875M ▲ $-281.669M ▼ $-105.147M ▲ $180.624M ▲
Q3-2024 $92.381M $81.589M $-109.332M $-111.114M $-138.857M $73.331M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Aristada And Aristada Initio
Aristada And Aristada Initio
 $100.00M ▲$0 ▼$100.00M ▲$100.00M ▲
L Y B A L V I
L Y B A L V I
 $80.00M ▲$0 ▼$80.00M ▲$100.00M ▲
Product
Product
 $310.00M ▲$240.00M ▼$310.00M ▲$320.00M ▲
Vivitrol
Vivitrol
 $130.00M ▲$0 ▼$120.00M ▲$120.00M ▲
Manufactured Product And Royalty
Manufactured Product And Royalty
 $0 ▲$60.00M ▲$0 ▼$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Alkermes has shifted from a period of small losses to consistent profitability. Revenue has grown meaningfully over the past several years, although it eased slightly most recently after a very strong prior year. Margins look healthy: the company keeps a large share of its revenue after direct costs, and operating profit has steadily improved from near break-even to clearly positive. Net income and earnings per share have followed the same pattern, turning from losses into solid profits. Overall, the income statement shows a mature, profitable biotech with room to grow, rather than an early-stage, cash-burning story.

Balance Sheet

Balance Sheet The balance sheet looks sturdier than a few years ago. Total assets have inched up over time, suggesting steady investment rather than aggressive expansion. Cash levels are comfortable, providing flexibility for R&D and deals. Debt has been cut back sharply, which reduces financial risk and interest expense. Shareholders’ equity has grown steadily, reflecting retained earnings and a stronger capital base. In short, Alkermes appears to be moving toward a cleaner, more conservative balance sheet with more of its funding coming from its own profits rather than borrowing.

Cash Flow

Cash Flow Cash generation has improved significantly. Operating cash flow has climbed from marginal levels to a solid, recurring inflow, meaning the core business is now reliably funding itself. After relatively modest and stable capital spending, free cash flow is clearly positive and rising, which is important for a company still investing in new drugs and potential acquisitions. The low capital intensity of the model (limited spending on physical assets) supports this strong cash profile. Overall, cash flow trends back up the income statement story: Alkermes has moved into a phase where it can self-fund growth and strategic moves.

Competitive Edge

Competitive Edge Alkermes occupies a focused niche in neuroscience, especially serious mental health conditions and addiction. Its strength is in specialized drug delivery and long-acting injectables, where treatment adherence is a big issue and technical barriers are high. Established products like ARISTADA, VIVITROL, and LYBALVI give it a recognized presence with psychiatrists, addiction specialists, and payers. A sizable patent portfolio and experience navigating complex CNS trials and regulation also support its position. The flip side is concentration risk: much of its value is tied to a handful of branded drugs that face ongoing competition, future generic pressure, and reimbursement scrutiny from insurers and governments.

Innovation and R&D

Innovation and R&D Innovation is a core part of Alkermes’ identity. The company leverages proprietary technologies for long-acting injectables and controlled-release pills to differentiate both new and existing molecules. Its pipeline in sleep and wakefulness disorders, particularly the orexin-2 agonist alixorexton, targets areas with high unmet need and the potential for durable franchises. The planned acquisition of Avadel and LUMRYZ extends its reach in sleep medicine and should create useful commercial synergies for future launches. However, typical biotech risks remain: trial outcomes are uncertain, regulatory decisions can shift timelines, and integrating acquisitions while advancing the pipeline will test management’s execution.

Summary

Alkermes has evolved from a more speculative biotech into a profitable, cash-generating CNS-focused pharmaceutical company. Financially, it shows improving profitability, a stronger balance sheet with less debt, and growing free cash flow. Strategically, it combines established CNS brands with a technology base and pipeline aimed at long-acting therapies and sleep disorders. The acquisition strategy is designed to reinforce this focus rather than diversify away from it. Key risks center on product concentration, patent and pricing pressures, clinical and regulatory uncertainty for pipeline assets, and the challenge of integrating new businesses. Overall, the company appears to be in a more stable financial phase while still taking targeted, research-driven bets on future growth.

NEWS

November 25, 2025 · 4:00 PM UTC

Alkermes to Participate in Two Upcoming Investor Conferences

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November 19, 2025 · 6:00 AM UTC

Alkermes plc Announces Increased Offer to Acquire Avadel Pharmaceuticals plc

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November 14, 2025 · 7:45 AM UTC

Alkermes Response to Avadel Announcement

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November 14, 2025 · 5:45 AM UTC

Avadel Receives Unsolicited Proposal from Lundbeck

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November 12, 2025 · 7:30 AM UTC

Alkermes Announces Positive Topline Results From Vibrance-2 Phase 2 Study of Once-Daily Alixorexton in Patients With Narcolepsy Type 2

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