Leerink Partners analyst Marc Goodman maintained a Hold rating on Alkermes on July 29 and set a price target of $30.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Marc Goodman has given his Hold rating due to a combination of factors related to Alkermes’ recent performance and future prospects. The company reported a strong second quarter with positive sales across its proprietary products, which led management to guide towards the high end of their 2025 financial expectations. However, despite these encouraging results, there are uncertainties surrounding the development of alixorexton, particularly regarding its regulatory path and the outcomes of ongoing clinical trials.
Management’s cautious approach in revealing detailed data on alixorexton’s effects, especially concerning visual disturbances and cataplexy outcomes, suggests that there are still hurdles to overcome before gaining full confidence in the product’s market potential. Additionally, the company’s plans for future studies and regulatory meetings indicate that significant work remains before alixorexton can be fully commercialized. These factors contribute to the decision to maintain a Hold rating, as the potential for growth is balanced by the risks and uncertainties still present.
In another report released yesterday, RBC Capital also maintained a Hold rating on the stock with a $42.00 price target.