Needham analyst Ami Fadia maintained a Buy rating on Alkermes today and set a price target of $45.00.
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Ami Fadia has given his Buy rating due to a combination of factors tied to Alkermes’s progress with alixorexton in narcolepsy type 1. The company reported that in the Phase 2 VIBRANCE-1 trial’s open-label extension, patients experienced meaningful reductions in excessive daytime sleepiness and cataplexy, along with improvements in patient-reported outcomes such as symptom burden, cognition, and fatigue over seven weeks.
In addition, more than 95% of enrolled patients completed both the controlled and extension periods, indicating strong treatment persistence and no new discontinuations beyond prior disclosures, while all tested doses showed a favorable safety profile without serious treatment-emergent events, comparing well against oveporexton’s serious event rate. These results underpin Alkermes’s decision to advance alixorexton into the Phase 3 Brilliance program in NT1, which mirrors the competitive benchmark design, and reinforce the analyst’s confidence in the asset’s clinical and commercial potential, supporting the Buy stance on ALKS.
According to TipRanks, Fadia is a 5-star analyst with an average return of 29.2% and a 55.49% success rate. Fadia covers the Healthcare sector, focusing on stocks such as Praxis Precision Medicines, Biogen, and Atai Beckley N.V..
In another report released on April 13, Piper Sandler also reiterated a Buy rating on the stock with a $43.00 price target.