Alkermes price target raised to $40 from $35 at Mizuho

Mizuho raised the firm’s price target on Alkermes (ALKS) to $40 from $35 and keeps an Outperform rating on the shares. The firm assessed its forecast and conducted a sum-of-the-parts analysis. The investor debate is shifting towards ALKS 2680, which will gain greater attention into the Phase 2 readouts in the second half of 2025, given its potential to be disruptive in the $10B branded narcolepsy and idiopathic hypersomnia markets, the analyst tells investors in a research note.