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Alkermes plc.

ALKS on Nasdaq. Alkermes plc. sells medicines to patients and doctors. Market value $7.2bn.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.

We can't read total debt from the filing, so debt is left out.

Should I look at this?

Good business, but not cheap right now

Why it could be worth it

What to watch out for

See cheaper Health care stocks on the list

This is not advice. Check the numbers below.

Compare with another stock

Cash yield
past 12 months to June 2026
3.1%fair

For every $100 of what the whole company costs, it produced $3.09 of spare cash in the past 12 months. A savings account pays about $4.

Price to profit
past 12 months to June 2026
69.8×full

You pay 69.8 years of operating profit for the business. The average large US company costs around 18.

Return on capital
five annual reports to December 2025
7.2%five-year median

Each dollar kept in the business earns 7 cents a year. Above 10 is good.

Quality score: 75 of 100. Price score: 22 of 100. Our list needs 70 on quality and 60 on price.

$42.76 a share, 58% above its 1-year low

Over the past year the price has ranged from $27.00 to $55.67.

Pays no dividend

Prices from Monday’s close (5 October).

Five years of cash, in billions

0.1
-0.0
0.4
0.4
0.5
0.2
2021202220232024202512 monthsto Jun '26

Spare cash swings from quarter to quarter here: $222 million in the past 12 months, $480 million in the year to December 2025.

Revenue
$1.2bn$1.1bn$1.7bn$1.6bn$1.5bn
Operating margin
8.3%-0.5%24.9%27.0%17.2%
Debt to equity
0.270.280.24n/an/a
Shares outstanding
0.16bn0.17bn0.16bn0.17bn0.17bn

Health checks

  • Free cash flow positive4 of 5 years
  • Accounting looks honest (Beneish)Not enough data
  • Financial strength (Piotroski)6 of 8 checks we could run
  • Profit backed by cash (accruals)No
  • DebtUnknown
  • Revenue growth, five yearsSlow, 7.3% a year
  • Buying back its own sharesRoughly flat

The quarter to June 2026

How the business did, compared with the same quarter a year earlier.

  • Sales: $496 million last quarter, up 27% on a year ago.
  • Profit: $501,000, down 99% on a year ago.
  • It keeps 7 cents of each $1 of sales as operating profit, down from 25 cents a year earlier.
  • Spare cash over the past 12 months: $222 million, down from $480 million.
  • 3% more shares than a year ago. Each share owns a bit less of the company.
  • Sales grew on a year ago in 3 of the last 4 quarters.
Sales by quarter
Sales by quarter
Quarter toAmount
September 2024$378m
December 2024$430m
March 2025$307m
June 2025$391m
September 2025$394m
December 2025$385m
March 2026$393m
June 2026$496m
Profit by quarter
Profit by quarter
Quarter toAmount
September 2024$92m
December 2024$147m
March 2025$22m
June 2025$87m
September 2025$83m
December 2025$49m
March 2026-$66m
June 2026$501,000

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
n/a
Last annual report (10-K)
25 February 2026
Next quarterly (estimated, 10-Q)
27 October 2026

Who owns it

5 long-term investors we follow own it, unchanged from 5 last quarter. 424 funds in all.

Jun '25
Dec '25
Jun '26
Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

6 investors own more than 5%.

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

No insider bought shares on the open market in the last 12 months. 7 sold $11m, $8m of it under preset trading plans.

  • Gaffin David Joseph
    EVP, CLO, Alkermes, Inc.
    Sold
    under a preset trading plan
    Date
    2 October 2026
    Shares
    2,034
    Price
    $41.03
    Value
    $83,455
  • Gaffin David Joseph
    EVP, CLO, Alkermes, Inc.
    Sold
    under a preset trading plan
    Date
    3 September 2026
    Shares
    2,034
    Price
    $48.01
    Value
    $97,652
  • Hopkinson Craig C.
    EVP R&D, Chief Medical Officer
    Sold
    under a preset trading plan
    Date
    1 September 2026
    Shares
    9,000
    Price
    $46.99
    Value
    $422,874
  • Nichols Christian Todd
    SVP, Chief Commercial Officer
    Sold
    under a preset trading plan
    Date
    17 August 2026
    Shares
    7,576
    Price
    $49.23
    Value
    $372,937
  • snyderman nancy lynn MD
    Director
    Sold
    Date
    3 August 2026
    Shares
    44,472
    Price
    $50.35
    Value
    $2m
  • Hopkinson Craig C.
    EVP R&D, Chief Medical Officer
    Sold
    under a preset trading plan
    Date
    3 August 2026
    Shares
    9,000
    Price
    $48.58
    Value
    $437,220
  • Gaffin David Joseph
    EVP, CLO, Alkermes, Inc.
    Sold
    under a preset trading plan
    Date
    3 August 2026
    Shares
    2,034
    Price
    $48.58
    Value
    $98,812
  • Gaffin David Joseph
    EVP, CLO, Alkermes, Inc.
    Sold
    under a preset trading plan
    Date
    6 July 2026
    Shares
    2,034
    Price
    $54.03
    Value
    $109,897
  • Hopkinson Craig C.
    EVP R&D, Chief Medical Officer
    Sold
    under a preset trading plan
    Date
    1 July 2026
    Shares
    9,000
    Price
    $51.51
    Value
    $463,621
  • Wright Christopher I
    Director
    Sold
    under a preset trading plan
    Date
    12 June 2026
    Shares
    2,000
    Price
    $45.10
    Value
    $90,200

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

None of the warning signs we check for were found.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 25 Feb 2026, plus the 10-Q filed 28 Jul 2026 and 9 later 8-Ks.

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

What could go wrong

  • It isn't cheap on profits: 69.8× operating profit.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.