Intrinsic value of Alkermes - ALKS

Previous Close

$50.90

  Intrinsic Value

$1.79

stock screener

  Rating & Target

str. sell

-96%

  Value-price divergence*

-94%

Previous close

$50.90

 
Intrinsic value

$1.79

 
Up/down potential

-96%

 
Rating

str. sell

 
Value-price divergence*

-94%

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of ALKS stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 7.9

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  18.79
  22.30
  20.57
  19.01
  17.61
  16.35
  15.22
  14.19
  13.27
  12.45
  11.70
  11.03
  10.43
  9.89
  9.40
  8.96
  8.56
  8.21
  7.89
  7.60
  7.34
  7.10
  6.89
  6.70
  6.53
  6.38
  6.24
  6.12
  6.01
  5.91
  5.81
Revenue, $m
  746
  912
  1,100
  1,309
  1,540
  1,792
  2,064
  2,357
  2,670
  3,002
  3,354
  3,724
  4,112
  4,518
  4,943
  5,386
  5,847
  6,327
  6,826
  7,344
  7,883
  8,443
  9,025
  9,630
  10,259
  10,914
  11,595
  12,304
  13,043
  13,813
  14,617
Variable operating expenses, $m
 
  780
  938
  1,115
  1,310
  1,522
  1,752
  2,000
  2,264
  2,545
  2,842
  3,145
  3,473
  3,816
  4,175
  4,549
  4,938
  5,343
  5,764
  6,202
  6,657
  7,130
  7,622
  8,133
  8,664
  9,217
  9,792
  10,391
  11,015
  11,666
  12,344
Fixed operating expenses, $m
 
  331
  339
  348
  357
  365
  375
  384
  394
  403
  413
  424
  434
  445
  456
  468
  479
  491
  504
  516
  529
  543
  556
  570
  584
  599
  614
  629
  645
  661
  678
Total operating expenses, $m
  954
  1,111
  1,277
  1,463
  1,667
  1,887
  2,127
  2,384
  2,658
  2,948
  3,255
  3,569
  3,907
  4,261
  4,631
  5,017
  5,417
  5,834
  6,268
  6,718
  7,186
  7,673
  8,178
  8,703
  9,248
  9,816
  10,406
  11,020
  11,660
  12,327
  13,022
Operating income, $m
  -209
  -199
  -178
  -154
  -126
  -96
  -63
  -27
  12
  54
  99
  155
  205
  257
  312
  370
  430
  492
  557
  625
  696
  770
  847
  927
  1,011
  1,098
  1,189
  1,284
  1,383
  1,487
  1,595
EBITDA, $m
  -115
  -115
  -79
  -37
  8
  59
  115
  175
  239
  308
  382
  459
  540
  626
  715
  809
  907
  1,008
  1,114
  1,225
  1,340
  1,459
  1,583
  1,713
  1,848
  1,988
  2,135
  2,288
  2,447
  2,614
  2,788
Interest expense (income), $m
  12
  11
  15
  20
  25
  31
  38
  45
  53
  61
  70
  79
  89
  99
  109
  120
  132
  144
  157
  170
  183
  197
  212
  227
  243
  260
  277
  295
  313
  332
  353
Earnings before tax, $m
  -214
  -209
  -193
  -174
  -152
  -128
  -101
  -72
  -41
  -7
  29
  76
  116
  158
  203
  249
  297
  348
  401
  456
  513
  573
  635
  700
  768
  838
  912
  989
  1,070
  1,154
  1,242
Tax expense, $m
  -6
  0
  0
  0
  0
  0
  0
  0
  0
  0
  8
  21
  31
  43
  55
  67
  80
  94
  108
  123
  138
  155
  171
  189
  207
  226
  246
  267
  289
  312
  335
Net income, $m
  -208
  -209
  -193
  -174
  -152
  -128
  -101
  -72
  -41
  -7
  21
  56
  85
  116
  148
  182
  217
  254
  292
  333
  374
  418
  463
  511
  560
  612
  666
  722
  781
  842
  907

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  497
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  1,726
  1,503
  1,812
  2,157
  2,537
  2,951
  3,400
  3,883
  4,399
  4,946
  5,525
  6,134
  6,774
  7,444
  8,143
  8,873
  9,633
  10,423
  11,245
  12,099
  12,987
  13,909
  14,868
  15,865
  16,901
  17,980
  19,102
  20,270
  21,488
  22,757
  24,080
Adjusted assets (=assets-cash), $m
  1,229
  1,503
  1,812
  2,157
  2,537
  2,951
  3,400
  3,883
  4,399
  4,946
  5,525
  6,134
  6,774
  7,444
  8,143
  8,873
  9,633
  10,423
  11,245
  12,099
  12,987
  13,909
  14,868
  15,865
  16,901
  17,980
  19,102
  20,270
  21,488
  22,757
  24,080
Revenue / Adjusted assets
  0.607
  0.607
  0.607
  0.607
  0.607
  0.607
  0.607
  0.607
  0.607
  0.607
  0.607
  0.607
  0.607
  0.607
  0.607
  0.607
  0.607
  0.607
  0.607
  0.607
  0.607
  0.607
  0.607
  0.607
  0.607
  0.607
  0.607
  0.607
  0.607
  0.607
  0.607
Average production assets, $m
  609
  744
  898
  1,068
  1,256
  1,462
  1,684
  1,923
  2,179
  2,450
  2,737
  3,038
  3,355
  3,687
  4,034
  4,395
  4,771
  5,163
  5,570
  5,993
  6,433
  6,889
  7,364
  7,858
  8,371
  8,905
  9,461
  10,040
  10,643
  11,272
  11,927
Working capital, $m
  579
  104
  125
  149
  176
  204
  235
  269
  304
  342
  382
  424
  469
  515
  564
  614
  667
  721
  778
  837
  899
  962
  1,029
  1,098
  1,170
  1,244
  1,322
  1,403
  1,487
  1,575
  1,666
Total debt, $m
  284
  395
  525
  669
  827
  1,001
  1,188
  1,390
  1,606
  1,834
  2,076
  2,331
  2,599
  2,879
  3,171
  3,476
  3,793
  4,124
  4,467
  4,824
  5,195
  5,581
  5,982
  6,398
  6,832
  7,282
  7,752
  8,240
  8,749
  9,279
  9,832
Total liabilities, $m
  517
  628
  758
  902
  1,060
  1,234
  1,421
  1,623
  1,839
  2,067
  2,309
  2,564
  2,832
  3,112
  3,404
  3,709
  4,026
  4,357
  4,700
  5,057
  5,428
  5,814
  6,215
  6,631
  7,065
  7,515
  7,985
  8,473
  8,982
  9,512
  10,065
Total equity, $m
  1,209
  875
  1,055
  1,255
  1,476
  1,718
  1,979
  2,260
  2,560
  2,879
  3,216
  3,570
  3,943
  4,332
  4,739
  5,164
  5,606
  6,066
  6,545
  7,042
  7,558
  8,095
  8,653
  9,233
  9,837
  10,464
  11,117
  11,797
  12,506
  13,244
  14,015
Total liabilities and equity, $m
  1,726
  1,503
  1,813
  2,157
  2,536
  2,952
  3,400
  3,883
  4,399
  4,946
  5,525
  6,134
  6,775
  7,444
  8,143
  8,873
  9,632
  10,423
  11,245
  12,099
  12,986
  13,909
  14,868
  15,864
  16,902
  17,979
  19,102
  20,270
  21,488
  22,756
  24,080
Debt-to-equity ratio
  0.235
  0.450
  0.500
  0.530
  0.560
  0.580
  0.600
  0.620
  0.630
  0.640
  0.650
  0.650
  0.660
  0.660
  0.670
  0.670
  0.680
  0.680
  0.680
  0.690
  0.690
  0.690
  0.690
  0.690
  0.690
  0.700
  0.700
  0.700
  0.700
  0.700
  0.700
Adjusted equity ratio
  0.579
  0.582
  0.582
  0.582
  0.582
  0.582
  0.582
  0.582
  0.582
  0.582
  0.582
  0.582
  0.582
  0.582
  0.582
  0.582
  0.582
  0.582
  0.582
  0.582
  0.582
  0.582
  0.582
  0.582
  0.582
  0.582
  0.582
  0.582
  0.582
  0.582
  0.582

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -208
  -209
  -193
  -174
  -152
  -128
  -101
  -72
  -41
  -7
  21
  56
  85
  116
  148
  182
  217
  254
  292
  333
  374
  418
  463
  511
  560
  612
  666
  722
  781
  842
  907
Depreciation, amort., depletion, $m
  94
  84
  99
  116
  135
  155
  178
  202
  227
  254
  283
  304
  336
  369
  403
  439
  477
  516
  557
  599
  643
  689
  736
  786
  837
  891
  946
  1,004
  1,064
  1,127
  1,193
Funds from operations, $m
  -99
  -125
  -94
  -57
  -17
  28
  77
  130
  187
  247
  304
  359
  420
  484
  551
  621
  694
  770
  849
  932
  1,018
  1,107
  1,200
  1,297
  1,397
  1,502
  1,612
  1,726
  1,845
  1,970
  2,100
Change in working capital, $m
  -35
  19
  21
  24
  26
  29
  31
  33
  36
  38
  40
  42
  44
  46
  48
  50
  53
  55
  57
  59
  61
  64
  66
  69
  72
  75
  78
  81
  84
  88
  92
Cash from operations, $m
  -64
  -144
  -115
  -81
  -43
  -1
  46
  96
  151
  209
  264
  317
  376
  438
  503
  571
  642
  716
  793
  873
  956
  1,043
  1,134
  1,228
  1,326
  1,428
  1,534
  1,645
  1,761
  1,882
  2,008
Maintenance CAPEX, $m
  0
  -61
  -74
  -90
  -107
  -126
  -146
  -168
  -192
  -218
  -245
  -274
  -304
  -336
  -369
  -403
  -439
  -477
  -516
  -557
  -599
  -643
  -689
  -736
  -786
  -837
  -891
  -946
  -1,004
  -1,064
  -1,127
New CAPEX, $m
  -44
  -136
  -153
  -171
  -188
  -205
  -222
  -239
  -255
  -271
  -287
  -302
  -317
  -332
  -346
  -361
  -376
  -392
  -407
  -423
  -440
  -457
  -475
  -494
  -513
  -534
  -556
  -579
  -603
  -629
  -655
Cash from investing activities, $m
  127
  -197
  -227
  -261
  -295
  -331
  -368
  -407
  -447
  -489
  -532
  -576
  -621
  -668
  -715
  -764
  -815
  -869
  -923
  -980
  -1,039
  -1,100
  -1,164
  -1,230
  -1,299
  -1,371
  -1,447
  -1,525
  -1,607
  -1,693
  -1,782
Free cash flow, $m
  63
  -341
  -343
  -342
  -338
  -332
  -323
  -311
  -297
  -280
  -268
  -258
  -245
  -229
  -212
  -194
  -174
  -153
  -131
  -107
  -83
  -57
  -30
  -2
  27
  57
  88
  120
  154
  189
  225
Issuance/(repayment) of debt, $m
  -66
  114
  129
  144
  159
  173
  188
  202
  215
  229
  242
  255
  267
  280
  292
  305
  318
  330
  344
  357
  371
  386
  401
  417
  433
  451
  469
  488
  509
  530
  553
Issuance/(repurchase) of shares, $m
  20
  369
  373
  374
  373
  369
  362
  353
  341
  326
  316
  299
  287
  274
  259
  243
  225
  206
  186
  165
  142
  119
  95
  69
  43
  16
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  -58
  483
  502
  518
  532
  542
  550
  555
  556
  555
  558
  554
  554
  554
  551
  548
  543
  536
  530
  522
  513
  505
  496
  486
  476
  467
  469
  488
  509
  530
  553
Total cash flow (excl. dividends), $m
  5
  142
  159
  176
  194
  210
  227
  243
  259
  275
  290
  296
  310
  325
  339
  354
  368
  383
  399
  414
  431
  447
  465
  483
  503
  523
  557
  609
  663
  719
  779
Retained Cash Flow (-), $m
  105
  -369
  -373
  -374
  -373
  -369
  -362
  -353
  -341
  -326
  -337
  -355
  -372
  -390
  -407
  -425
  -442
  -460
  -478
  -497
  -517
  -537
  -558
  -580
  -603
  -628
  -653
  -680
  -709
  -739
  -770
Prev. year cash balance distribution, $m
 
  494
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  267
  -213
  -198
  -179
  -159
  -135
  -109
  -81
  -51
  -47
  -59
  -62
  -65
  -68
  -71
  -74
  -77
  -80
  -83
  -86
  -89
  -93
  -97
  -101
  -105
  -96
  -71
  -46
  -19
  8
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  256
  -195
  -172
  -148
  -123
  -98
  -74
  -51
  -29
  -25
  -28
  -26
  -25
  -23
  -21
  -19
  -17
  -15
  -13
  -11
  -9
  -8
  -6
  -5
  -4
  -3
  -2
  -1
  0
  0
Current shareholders' claim on cash, %
  100
  92.7
  87.0
  82.6
  79.0
  76.1
  73.7
  71.8
  70.1
  68.8
  67.7
  66.7
  65.9
  65.2
  64.6
  64.1
  63.7
  63.4
  63.1
  62.8
  62.6
  62.5
  62.4
  62.3
  62.2
  62.2
  62.2
  62.2
  62.2
  62.2
  62.2

Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products that are designed to address unmet medical needs of patients in various therapeutic areas worldwide. The company’s marketed products include ARISTADA (aripiprazole lauroxil) for the treatment of schizophrenia; VIVITROL (naltrexone for extended-release injectable suspension) for the treatment of alcohol and opioid dependence; RISPERDAL CONSTA for the treatment of schizophrenia and bipolar I disorder; INVEGA SUSTENNA for the treatment of schizophrenia and schizoaffective disorder; XEPLION, INVEGA TRINZA, and TREVICTA for treating schizophrenia; AMPYRA (dalfampridine)/FAMPYRA (fampridine) to enhance walking in adults with multiple sclerosis who have walking disability; and BYDUREON (exenatide extended-release for injectable suspension) for the treatment of type 2 diabetes. It is also developing ALKS 5461 that is in Phase III clinical trials for the treatment of depressive disorder; ALKS 3831, which is in Phase III clinical trials to treat schizophrenia; ALKS 8700, a monomethyl fumarate molecule, which is in Phase III clinical trials to treat multiple sclerosis; ALKS 6428, which is in Phase III clinical trials to help physicians transition patients from physical dependence on opioids; and Aripiprazole lauroxil, an injectable atypical antipsychotic, which has completed a Phase I clinical trials for the treatment of schizophrenia, as well as ALKS 4230, a cell activator that is in Phase I clinical trials for cancer immunotherapy. The company serves pharmaceutical wholesalers, and specialty pharmacies and distributors. It has collaboration agreements with Ortho-McNeil-Janssen Pharmaceuticals, Inc. and Janssen Pharmaceutica International. Alkermes plc was founded in 1987 and is headquartered in Dublin, Ireland.

FINANCIAL RATIOS  of  Alkermes (ALKS)

Valuation Ratios
P/E Ratio -37.3
Price to Sales 10.4
Price to Book 6.4
Price to Tangible Book
Price to Cash Flow -121.2
Price to Free Cash Flow -71.8
Growth Rates
Sales Growth Rate 18.8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -17%
Cap. Spend. - 3 Yr. Gr. Rate 18.3%
Financial Strength
Quick Ratio 166
Current Ratio 0
LT Debt to Equity 23.2%
Total Debt to Equity 23.5%
Interest Coverage -17
Management Effectiveness
Return On Assets -11%
Ret/ On Assets - 3 Yr. Avg. -7.5%
Return On Total Capital -13.2%
Ret/ On T. Cap. - 3 Yr. Avg. -9.4%
Return On Equity -16.5%
Return On Equity - 3 Yr. Avg. -11.9%
Asset Turnover 0.4
Profitability Ratios
Gross Margin 82.3%
Gross Margin - 3 Yr. Avg. 77.2%
EBITDA Margin -14.5%
EBITDA Margin - 3 Yr. Avg. -6.3%
Operating Margin -27.9%
Oper. Margin - 3 Yr. Avg. -25.9%
Pre-Tax Margin -28.7%
Pre-Tax Margin - 3 Yr. Avg. -22.2%
Net Profit Margin -27.9%
Net Profit Margin - 3 Yr. Avg. -23%
Effective Tax Rate 2.8%
Eff/ Tax Rate - 3 Yr. Avg. -37.6%
Payout Ratio 0%

ALKS stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the ALKS stock intrinsic value calculation we used $746 million for the last fiscal year's total revenue generated by Alkermes. The default revenue input number comes from 2016 income statement of Alkermes. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our ALKS stock valuation model: a) initial revenue growth rate of 22.3% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for ALKS is calculated based on our internal credit rating of Alkermes, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Alkermes.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of ALKS stock the variable cost ratio is equal to 85.7%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $323 million in the base year in the intrinsic value calculation for ALKS stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.8% for Alkermes.

Corporate tax rate of 27% is the nominal tax rate for Alkermes. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the ALKS stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for ALKS are equal to 81.6%.

Life of production assets of 10 years is the average useful life of capital assets used in Alkermes operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for ALKS is equal to 11.4%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $1209 million for Alkermes - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 155.585 million for Alkermes is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Alkermes at the current share price and the inputted number of shares is $7.9 billion.

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COMPANY NEWS

▶ ETFs with exposure to Alkermes Plc : August 14, 2017   [Aug-14-17 04:05PM  Capital Cube]
▶ 3 Biotech Stocks for Enterprising Investors   [Jul-29-17 06:45AM  Motley Fool]
▶ Alkermes Continues to Execute   [07:27AM  Motley Fool]
▶ Alkermes reports 2Q loss   [01:24AM  Associated Press]
▶ Alkermes plc Reports Second Quarter 2017 Financial Results   [Jul-27-17 07:00AM  Business Wire]
▶ ETFs with exposure to Alkermes Plc : July 24, 2017   [Jul-24-17 01:56PM  Capital Cube]
▶ ETFs with exposure to Alkermes Plc : July 14, 2017   [Jul-14-17 12:43PM  Capital Cube]
▶ Alkermes Plc Value Analysis (NASDAQ:ALKS) : June 20, 2017   [Jun-20-17 03:38PM  Capital Cube]
▶ Key FDA Events to Watch Out for in Jun 2017   [Jun-05-17 07:47AM  Zacks]
▶ Why These Drug Stocks May Surge   [May-15-17 03:16PM  Investopedia]
▶ Big Week Ahead for Alkermes   [01:23PM  Investopedia]
▶ [$$] Three Top Picks in Smaller Pharma   [May-02-17 11:05AM  Barrons.com]
▶ Biotechs Cruise On 6-Day Upswing Despite Price Target Cuts For This Duo   [May-01-17 04:11PM  Investor's Business Daily]
▶ Alkermes' Revenue Jumps 22%   [09:27AM  Motley Fool]
▶ Alkermes reports 1Q loss   [08:56AM  Associated Press]
▶ Drug Addiction Treatment Should Start in Emergency Room   [Apr-04-17 01:20PM  GuruFocus.com]
▶ Acorda, Forward, Biogen Fall On Multiple Sclerosis Drug Fight   [Apr-03-17 04:43PM  Investor's Business Daily]
▶ 3 Top Biotech Stocks to Buy in April   [04:23PM  Motley Fool]
▶ 3 Top Biotech Stocks to Buy in April   [04:23PM  at Motley Fool]
▶ Vivitrol Offers Hope Against Opioid Addiction   [04:36PM  at Investopedia]
▶ 4 Things Alkermes Wants Investors to Know   [Mar-06-17 09:21AM  at Motley Fool]
Stock chart of ALKS Financial statements of ALKS
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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