Mizuho Securities analyst Uy Ear has maintained their bullish stance on ALKS stock, giving a Buy rating today.
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Uy Ear has given his Buy rating due to a combination of factors related to Alkermes’ promising clinical trial results for alixorexton. The drug demonstrated significant improvements in patients with narcolepsy type 1, achieving normal wakefulness across various doses in the trial. The 6 mg dose was particularly noteworthy for its statistical significance in reducing cataplexy, a key symptom of narcolepsy.
Additionally, while some adverse events such as blurred vision and insomnia were observed, they were generally mild and resolved quickly, suggesting a favorable safety profile. Despite concerns about the drug’s efficacy in other sleep disorders, the competitive potential of the 6 mg dose in its current indication supports a positive outlook. These clinical outcomes, combined with the drug’s potential market impact, underpin Uy Ear’s Buy rating for Alkermes.
Ear covers the Healthcare sector, focusing on stocks such as Sarepta Therapeutics, Evolus, and ACADIA Pharmaceuticals. According to TipRanks, Ear has an average return of -4.4% and a 37.61% success rate on recommended stocks.
In another report released today, Stifel Nicolaus also maintained a Buy rating on the stock with a $42.00 price target.