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Investing.com - H.C. Wainwright has reiterated its Neutral rating on Alkermes (NASDAQ:ALKS) with a price target of $46.00 following the company’s presentation of detailed Phase 2 data from the Vibrance-1 study. The company, currently trading at a P/E ratio of 13.3 and maintaining a "GREAT" financial health score according to InvestingPro, has shown strong profitability with earnings of $2.08 per share over the last twelve months.
The presentation, which took place at the World Sleep Congress, provided additional information after Alkermes had previously announced that the study met its primary endpoint.
H.C. Wainwright noted that the quantitative analyses provided "incremental confidence" in alixorexton’s potential as a treatment for narcolepsy type 1 (NT1).
The research firm highlighted that the study successfully met its primary endpoint of Maintenance of Wakefulness Test (MWT) at week 6 across all three doses tested.
Despite the positive clinical data, H.C. Wainwright maintained its Neutral stance on the stock, keeping its price target unchanged at $46.
In other recent news, Alkermes reported impressive financial results for the second quarter of 2025, surpassing analysts’ forecasts. The company achieved earnings per share of $0.52, significantly higher than the projected $0.36. Additionally, Alkermes’ revenue reached $390.7 million, exceeding the expected $347.16 million. In clinical developments, Alkermes announced positive results from a phase 2 trial of its narcolepsy treatment, alixorexton. The study demonstrated significant improvements in wakefulness, cognition, and fatigue among patients with narcolepsy type 1. Furthermore, at the World SLEEP conference, the company presented data showing alixorexton’s compelling efficacy profile, with notable improvements in wakefulness tests. Stifel maintained its Buy rating for Alkermes, setting a price target of $42.00, following the promising clinical data. These developments reflect a series of positive outcomes for the company.
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