Alkermes price target lowered to $43 from $45 at Piper Sandler

Piper Sandler analyst David Amsellem lowered the firm’s price target on Alkermes (ALKS) to $43 from $45 and keeps an Overweight rating on the shares. Looking further into 2026, the firm believes Lumryz should be every bit as consequential to Alkermes shares as is orexin 2 receptor agonist alixorexton. There is of course the expected Q2 read-out of the Phase III REVITALYZ study evaluating Lumryz in idiopathic hypersomnia, and then early metrics on Takeda’s (TAK) oveporexton in narcolepsy type 1. On this latter point, Piper does not envision much pressure on oxybate products.