Alkermes price target lowered to $43 from $46 at H.C. Wainwright

H.C. Wainwright lowered the firm’s price target on Alkermes (ALKS) to $43 from $46 and keeps a Neutral rating on the shares. The company’s 2026 revenue guidance reflects expected consistent growth of its psychiatry portfolio, the analyst tells investors in a research note. The firm says that while Alkermes’ legacy products may have some incremental growth, the investment story is shifting to the company’s sleep franchise, which is anchored commercially by Lumryz for the time being as alixorexant enters late-stage development.