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An update from Alkermes ( (ALKS) ) is now available.
On Feb. 12, 2026, Alkermes completed its all-cash acquisition of Avadel Pharmaceuticals via an Irish court-approved scheme of arrangement, making Avadel a wholly owned subsidiary. The deal adds FDA‑approved LUMRYZ, an extended‑release sodium oxybate for narcolepsy, as well as early-stage candidate valiloxybate, and transfers Avadel’s commercial infrastructure and sleep-medicine expertise to Alkermes.
To fund the acquisition, Alkermes used about $750 million in cash and drew $1.525 billion under new senior secured term loan A and B facilities maturing in 2031, terminating a prior bridge facility, and expects to pay down the debt with business cash flows. The company projects the transaction will be accretive in 2026, enhances its revenue growth profile, accelerates its entry into the sleep medicine and rare-disease markets, and triggers significant 2026 transaction-related costs, inventory step-up, IP amortization and higher net interest expense while Avadel’s shares are delisted and deregistered from Nasdaq.
The most recent analyst rating on (ALKS) stock is a Buy with a $58.00 price target. To see the full list of analyst forecasts on Alkermes stock, see the ALKS Stock Forecast page.
Spark’s Take on ALKS Stock
According to Spark, TipRanks’ AI Analyst, ALKS is a Outperform.
The score is driven primarily by strong financial performance (high margins, low leverage, and strong cash conversion) and a constructive earnings update with raised guidance and solid product growth. Valuation looks reasonable on a 14.644 P/E, while technicals are mixed due to a slightly negative MACD and elevated stochastic despite price holding above key moving averages.
To see Spark’s full report on ALKS stock, click here.
More about Alkermes
Alkermes plc is a global biopharmaceutical company focused on neuroscience, with proprietary commercial products for alcohol and opioid dependence, schizophrenia, bipolar I disorder and narcolepsy. Its pipeline includes late-stage candidates for narcolepsy and idiopathic hypersomnia and early-stage orexin 2 receptor agonists for other neurological disorders, and it operates from headquarters in Ireland with key facilities in Massachusetts and Ohio.
The company is expanding into sleep medicine through the acquisition of Avadel Pharmaceuticals, bringing LUMRYZ, a once-at-bedtime sodium oxybate treatment for narcolepsy, into its portfolio and adding rare-disease commercial capabilities. This move positions Alkermes as a broader CNS player with a diversified revenue base anchored in both psychiatric and sleep-disorder therapies.
Average Trading Volume: 2,021,178
Technical Sentiment Signal: Buy
Current Market Cap: $5.73B
For detailed information about ALKS stock, go to TipRanks’ Stock Analysis page.