Alkermes has near-term catalyst with narcolepsy data, says H.C. Wainwright

H.C. Wainwright analyst Douglas Tsao says Alkermes (ALKS)’ Q1 sales come in as expected and its 2025 financial expectations were reaffirmed. Since the company’s proprietary products are manufactured in the U.S., management expects no impacts from tariffs, the analyst tells investors in a research note. The firm says topline data from Vibrance-1 trial of ALKS-2680 in narcolepsy type 1 is expected in early Q3, providing a significant near-term catalyst for the shares. H.C. Wainwright assigns a 50% probability of sucess for ALKS-2680 as a Phase 2 asset. It keeps a Neutral rating on Alkermes with a $46 price target