TD Cowen Asserts Buy Rating as Alkermes plc (ALKS) Delivers Topline Results for Narcolepsy Treatment

Core Insights - Alkermes Plc (NASDAQ:ALKS) has shown promising clinical trial results for its narcolepsy treatment, Alixorexton, leading to a Buy rating from TD Cowen with a price target of $40 [1][2]. Group 1: Clinical Trial Results - Alixorexton, previously known as ALKS 2680, is in phase 2 development for treating narcolepsy type 1 (NT1), narcolepsy type 2 (NT2), and idiopathic hypersomnia (IH) [2]. - The trial results indicated that 95% of patients completed the 8-week double-masked period, demonstrating a tolerable safety profile [2]. - The drug successfully met its dual primary endpoints, showing clinically meaningful improvements from baseline compared to placebo [2]. Group 2: Future Development Plans - Following the positive topline results, Alkermes plans to initiate a phase 3 program in the first quarter of the next year [4]. Group 3: Company Overview - Alkermes is a global biopharmaceutical company focused on developing and commercializing medicines for central nervous system disorders, including schizophrenia, bipolar I disorder, alcohol dependence, and opioid dependence [5]. - The company utilizes its scientific and proprietary technologies to create a portfolio of commercial products and has a pipeline of investigational drugs targeting neurological and psychiatric conditions [5].