JPMorgan raised the firm’s price target on Alkermes (ALKS) to $35 from $34 and keeps a Neutral rating on the shares. The firm sees see alixorexton as well-positioned in narcolepsy type I based on detailed results from the Phase II Vibrance-1 study. Alixorexton delivered a profile broadly inline with expectations with efficacy that generally looks better than Takeda’s (TAK) Phase III data for oveporexton, the analyst tells investors in a research note. JPMorgan upped its probability of sucess for alixorexton in narcolepsy type I to 75% from 70% following the data.
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.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ALKS:
- Questions remain after Alkermes narcolepsy data, says H.C. Wainwright
- Alkermes Hold Rating: Promising NT1 Data Amidst Competitive and Clinical Challenges
- Cautious Hold Rating on Alkermes Amid Competitive Pressures and Mixed Data for ALKS2680
- Jefferies says stage set for Centessa to differentiate in narcolepsy
- Alkermes narcolepsy data ‘solid,’ about as expected, says Leerink