Jim Cramer on Alkermes: “I Think It’s a Hold, Maybe a Weak One”

Company Overview - Alkermes plc (NASDAQ:ALKS) is a biopharmaceutical company focused on developing and selling medicines for schizophrenia, bipolar I disorder, and addiction to alcohol or opioids [2]. Recent Developments - On January 6, Alkermes announced that the FDA granted Breakthrough Therapy designation to its alixorexton therapy for narcolepsy type 1, following positive results from phase 1 and phase 2 studies [2]. - The clinical trial involved 92 patients and demonstrated that the oral orexin 2 receptor agonist achieved its primary endpoint, showing statistically significant, dose-dependent improvements in wakefulness [2]. - Craig Hopkinson, M.D., emphasized that alixorexton could significantly improve treatment for narcolepsy type 1, addressing unmet medical needs in the community [2]. - The company plans to advance alixorexton into phase 3 development later this quarter [2]. Market Sentiment - Jim Cramer expressed skepticism about Alkermes, suggesting it is a hold, possibly a weak one, indicating a lack of strong recommendation for the stock [1].