Alkermes Boosts FY21 Outlook - Quick Facts

(RTTNews) - While reporting financial results for the second quarter on Wednesday, biopharmaceutical company Alkermes plc (ALKS) raised its earnings and revenue guidance for the full-year 2021, based on the strong first half performance and anticipated continued strength in the business.

For fiscal 2021, the company now projects a loss in a range of $0.37 to $0.56 per share and adjusted earnings in the range of $0.52 to $0.70 per share on total revenues between $1.145 billion and $1.185 billion.

Previously, the company expected a loss in the range of $0.53 to $0.78 per share and adjusted earnings in the range of $0.37 to $0.62 per share on total revenues between $1.10 billion and $1.17 billion.

On average, nine analysts polled by Thomson Reuters expect the company to report earnings of $0.51 per share on revenues of $1.14 billion for the year. Analysts' estimates typically exclude special items.

The company now projects VIVITROL net sales between $330 million and $345 million as well as ARISTADA net sales between $275 million and $290 million.