DUBLIN (AP) — DUBLIN (AP) — Alkermes PLC (ALKS) on Wednesday reported third-quarter net income of $47.8 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Dublin-based company said it had profit of 28 cents. Earnings, adjusted for non-recurring costs and stock option expense, were 64 cents per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 44 cents per share.
The drugmaker posted revenue of $380.9 million in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $366.2 million.
Alkermes shares have fallen 3% since the beginning of the year. The stock has increased 14% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ALKS at https://www.zacks.com/ap/ALKS