Truist analyst Joon Lee says that while Alkermes (ALKS) announced the dual endpoints were met in the Vibrance-2 dose-ranging Phase 2 study evaluating alixorexton in patients with narcolepsy type 2, the “details are scant.” Truist is “comforted” that 95% of patients chose to enter the optional five-week open-label extension, which it believes speaks to a good benefit/risk ratio. The firm has a Buy rating on Alkermes with a $50 price target The stock in morning trading is down 12%, or $3.94, to $29.88.
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