Alkermes

ALKS

Biotechnology · Healthcare

Price

$48.33

+0.31 (+0.65%)

Market Cap

$8.11B

Exchange

NASDAQ

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Weak

Growth

Mixed

Cash Flow

Exceptional

Stability

Strong

Valuation

Good

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Share count rising — dilution

+4.8% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 160.9M (2021) → 168.7M (2025)

Winston Score History

The full picture

Alkermes is a pharmaceutical company that makes medicines for serious mental health and addiction disorders. Its main products include Vivitrol, a monthly injection that helps people avoid relapse from alcohol or opioid dependence, and Aristada, a long-acting injectable treatment for schizophrenia. The company sells primarily to hospitals, clinics, and healthcare providers across the United States.

Alkermes earns money by selling these branded drugs directly to the healthcare system, which explains its high gross margins above 80%. The company is based in Dublin, Ireland, but most of its revenue comes from the U.S. market. Its competitive edge comes from proprietary drug-delivery technology that turns medicines into long-acting injectables, making it harder for patients to miss doses — a real advantage in treating addiction and mental illness. The key growth driver is expanding use of its psychiatry and addiction portfolio, while the main risk is patent expiration and competition from cheaper generic alternatives over time.

Politician Trades

4 trades / 12mo

2 Congressional buys and 2 sells on ALKS in the last 12 months.

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Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+27.0% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

-99.4% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$324M/ year

↑ Rising (+32% vs prior year)

22.0% of revenue

In line with sector average (18%)

Investing heavily in future products and technology

Insider Activity

7.6%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$692M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

Alkermes grew revenue 27% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

0.0%

Thin — 0.0% gross margin

Profit after running costs

Operating Margin

3.7%

Thin — 3.7% operating margin

Return on the money invested

ROCE

3.5%

Weak — 3.5% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth

Sales YoY

+10.8%

Steady sales growth (+10.8% YoY)

Profit growth

EPS YoY

-81.2%

Earnings shrinking (-81.2% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

380%

Turns 380% of profit into real cash

Spare cash per sale

FCF Margin

13.3%

Converts sales into free cash efficiently (13.3%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

What it owes vs what it owns

Debt / Equity

0.87

Moderate — manageable debt (0.87)

Covers its interest

Interest Cover

16.19x

Comfortably covers interest (16.2x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

119.9x

Expensive — P/E 119.9

P/E over 35. The market is pricing in heavy, sustained growth.

Cheaper or dearer next year

P/E vs Forward

+86.1

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (119.9 → 33.8)

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Dividends

Not applicable for this business.

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