Piper Sandler reiterates Overweight rating on Alkermes stock at $38

Investing.com - Piper Sandler has reiterated its Overweight rating and $38.00 price target on Alkermes (NASDAQ:ALKS), currently trading at $29.05, following a Virtual CNS Symposium that included discussions with company leadership and a sleep specialist. According to InvestingPro data, analyst targets range from $30 to $54, with the stock showing strong financial health metrics.

The investment firm recently hosted a fireside chat with Alkermes senior management and conducted a webinar featuring a leading sleep specialist who treats numerous patients with narcolepsy and idiopathic hypersomnia (IH).

Detailed results from the Vibrance-1 Phase II study of ALKS-2680 (alixorexton) in narcolepsy type 1 (NT1) will be presented on September 8, 2025, at the World Sleep conference, following the top-line results previously reported on July 21, 2025.

According to Piper Sandler, the featured medical expert’s commentary aligned with other key opinion leaders’ views, suggesting a clear clinical role for the drug despite ongoing questions about its safety and tolerability profile.

The firm maintained its Overweight rating on Alkermes stock, keeping its price target at $38 based on its assessment of the company’s narcolepsy treatment pipeline.

In other recent news, Alkermes reported strong second-quarter earnings and revenue that exceeded analyst expectations. The company’s performance across its proprietary product portfolio contributed to this positive outcome. Following the earnings announcement, RBC Capital adjusted its price target for Alkermes to $42, up from $40, while maintaining a Sector Perform rating. Meanwhile, BofA Securities lowered its price target to $33 from $35, maintaining a Neutral rating despite the strong quarterly results. The second-quarter performance was highlighted by a 12% revenue beat, with full-year 2025 results now anticipated to reach the high end of Alkermes’ guidance range. These developments reflect the company’s robust commercial business and favorable prescription growth. The mixed analyst responses underscore varying perspectives on Alkermes’ future growth outlook.

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