Alkermes (ALKS) Q2 2025

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Earnings

Alkermes delivered a standout second quarter, posting earnings per share of $0.52 against a consensus estimate of $0.38, a beat of 37.93%, while revenue of $390.66 million cleared expectations by 14.46% despite slipping 2.1% year-over-year. The headl… Read more Alkermes delivered a standout second quarter, posting earnings per share of $0.52 against a consensus estimate of $0.38, a beat of 37.93%, while revenue of $390.66 million cleared expectations by 14.46% despite slipping 2.1% year-over-year. The headline revenue decline masked a genuinely strong underlying performance: total proprietary net sales climbed 14% to $307.20 million, led by 18% growth in both ARISTADA and LYBALVI and a 9% gain in VIVITROL, with the top-line softness driven almost entirely by the expiration of the INVEGA SUSTENNA royalty in August 2024, which pulled manufacturing and royalty revenues down to $83.40 million from $129.90 million a year ago. Higher R&D investment of $77.37 million, up sharply from $59.65 million, reflected accelerating spend behind alixorexton, the company's narcolepsy candidate that produced positive Phase 2 topline results in the Vibrance-1 study. Looking ahead, Alkermes reiterated its full-year 2025 guidance, targeting total revenues of $1.34 billion to $1.43 billion and GAAP net income of $175 million to $205 million, with a global Phase 3 program for alixorexton expected to begin following Vibrance-2 topline data this fall.