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DUBLIN (AP) — DUBLIN (AP) — Alkermes PLC (ALKS) on Wednesday reported a loss of $41.8 million in its first quarter.
On a per-share basis, the Dublin-based company said it had a loss of 25 cents. Earnings, adjusted for stock option expense and non-recurring costs, came to 1 cent per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 3 cents per share.
The drugmaker posted revenue of $287.6 million in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $284.2 million.
Alkermes shares have increased 17% since the beginning of the year. The stock has risen 7% 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 ALKS">Zacks stock report on ALKS at https://www.zacks.com/ap/ALKS