Ami Fadia, an analyst from Needham, maintained the Buy rating on Alkermes. The associated price target remains the same with $45.00.
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Ami Fadia has given his Buy rating due to a combination of factors related to the recent positive results from Alkermes’ VIBRANCE-1 Phase 2 study for alixorexton in NT1 patients. The study demonstrated statistically significant outcomes across all doses in terms of primary endpoints compared to placebo, indicating a strong efficacy profile. Additionally, the treatment showed significant improvements in key secondary endpoints, such as the Epworth Sleepiness Scale and weekly cataplexy rate at the 6 mg dose, further supporting its potential effectiveness.
Moreover, the safety profile of alixorexton was consistent with previous studies, with no new safety concerns identified, particularly in hepatic and renal parameters. This consistency in safety, combined with the achievement of normalized wakefulness across doses, provides a solid foundation for optimism about the drug’s future prospects. Despite some limitations in efficacy and a lack of dose-dependent response, the overall positive topline data and absence of new safety issues contribute to the Buy rating, with expectations for further insights at the upcoming World Sleep Congress.
Fadia covers the Healthcare sector, focusing on stocks such as Jazz Pharmaceuticals, Biogen, and ACADIA Pharmaceuticals. According to TipRanks, Fadia has an average return of 7.1% and a 47.72% success rate on recommended stocks.
In another report released on July 16, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $32.00 price target.