| Over a week ago | ||||
Piper Sandler analyst… Piper Sandler analyst David Amsellem reiterates an Overweight rating on Alkermes with a $35 price target after meeting with management. The analyst continues to believe Alkermes is well positioned for "meaningful further value creation" given its "high visibility into considerable" longer-term EBITDA growth. The firm sees high visibility into "continued brisk growth" for Lybalvi as well as significant operating margin expansion over time for Alkermes. | ||||
Biopharma Analyst Folkes… Biopharma Analyst Folkes and Biotech Analyst Chen, along with Dr. Robert Thomas, Professor of Medicine, at Harvard Medical School, discuss the opportunity and important 2023 data readouts for Orexin-2 Agonists on an Analyst/Industry conference call to be held on May 18 at 1 pm. Webcast Link | ||||
Biopharma Analyst Folkes… Biopharma Analyst Folkes and Biotech Analyst Chen, along with Dr. Robert Thomas, Professor of Medicine, at Harvard Medical School, discuss the opportunity and important 2023 data readouts for Orexin-2 Agonists on an Analyst/Industry conference call to be held on May 18 at 1 pm. | ||||
Biopharma Analyst Folkes… Biopharma Analyst Folkes and Biotech Analyst Chen, along with Dr. Robert Thomas, Professor of Medicine, at Harvard Medical School, discuss the opportunity and important 2023 data readouts for Orexin-2 Agonists on an Analyst/Industry conference call to be held on May 18 at 1 pm. | ||||
| Over a month ago | ||||
These names in the…
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Mizuho analyst Uy Ear… Mizuho analyst Uy Ear lowered the firm's price target on Alkermes to $36 from $37 and keeps a Buy rating on the shares. The analyst views the company's overall Q1 print as "solid," given the modest top- and bottom-line beats. However, disappointment in Lybalvi and concerns about its market opportunity led to the post-earnings report selloff, the analyst tells investors in a research note. The firm would buy the stock on the weakness. | ||||
H.C. Wainwright raised… H.C. Wainwright raised the firm's price target on Alkermes to $34 from $32 and keeps a Neutral rating on the shares. The company's proprietary commercial portfolio showed growth in Q1, the analyst tells investors in a research note. The firm is now incorporating ALKS 2680 into its valuation model. | ||||
Alkermes said its… Alkermes said its "continues to make meaningful progress on the previously announced planned separation of the company's oncology business." The separation "would allow Alkermes to maintain its focus on researching, developing and commercializing therapies for people living with complex neurological conditions and is expected to accelerate and enhance the profitability of the remaining neuroscience business," the company said in its earnings release. Alkermes continues to expect to complete the separation in the second half of 2023, subject to various customary conditions, including final approval from Alkermes' board of directors. | ||||
Alkermes reiterates its… Alkermes reiterates its financial expectations for 2023, as set forth on February 2023. | ||||
Reports Q1 revenue… Reports Q1 revenue $287.6M, consensus $282.18M. "During Q1 we made continued progress across our portfolio, including strong commercial execution driving growth for our proprietary products - LYBALVI, VIVITROL and ARISTADA - and important progress in the development of ALKS 2680, our orexin 2 receptor agonist, which is now poised to enter a phase 1b proof-of-concept study in patients with narcolepsy and idiopathic hypersomnia, with data expected later this year," said CEO Richard Pops. "In addition, we made significant operational and strategic advances in the planned separation of our oncology business, which remains on track for completion in the second half of this year. We remain sharply focused on executing our strategic priorities to create significant value for shareholders." "Our strong Q1 financial results were driven by 25% growth year-over-year in proprietary product net sales and continued focus on disciplined management of our cost structure," commented CFO Iain Brown. "Today, we are reiterating our financial expectations for 2023 and believe we are in a strong financial position to continue to execute our strategic priorities, including further driving the launch of LYBALVI, advancing our orexin 2 receptor agonist clinical development program and completing the planned separation of the oncology business later this year." | ||||
