Alkermes

ALKS · NASDAQ

$44.11+$1.14 (+2.65%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $42.97

ALKS analyst rating

BuyConsensus of 15 analysts over the last 12 months. 80% rate it a buy.

Strong buy0
Buy12
Hold2
Underperform1
Sell0

12-month price target · 21 analysts

Average $56.99 (+29.2% upside)

Low: $38.38
Now: $44.11
High: $87.15

Upgrades and downgrades

The latest rating actions, newest first

ALKS analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Goldman Sachs	Sep 24, 2026	Initiates	Neutral	$50.00	42%
RBC Capital	Sep 22, 2026	Maintains	Outperform	$56.00	49%
Baird	Sep 22, 2026	Maintains	Outperform	$58.00 → $61.00	49%
Needham	Sep 21, 2026	Maintains	Buy	$62.00	47%
JP Morgan	Jul 29, 2026	Maintains	Neutral	$60.00 → $61.00	57%
Baird	Jul 29, 2026	Maintains	Outperform	$48.00 → $58.00	49%
Piper Sandler	Jul 28, 2026	Maintains	Overweight	$43.00 → $65.00	68%
Stifel	Jul 20, 2026	Maintains	Buy	$45.00 → $63.00	41%
Needham	Jul 13, 2026	Maintains	Buy	$61.00 → $62.00	47%
JP Morgan	Jul 13, 2026	Initiates	Neutral	$60.00	57%

The case for and against

Updated Oct 17, 2026

Bull case

Alkermes is attractive because its core commercial portfolio still supports profitability and rapid de-levering, while Lumryz, Lybalvi, Aristada, and Vivitrol provide a meaningful revenue base even as some legacy headwinds emerge. The bigger upside driver is ALKS 2680, which has shown encouraging efficacy and tolerability across NT1, NT2, and IH, with management highlighting split-dose dosing, an IH readout towards year-end '26, and ph.III narcolepsy data in summer-'27 as key catalysts. The recent ALKS 7290 Ph 1b ADHD data adds first proof-of-concept beyond sleep-wake disorders, strengthening confidence that the orexin platform can expand into larger markets and support long-term revenue and EPS growth.

Bear case

Alkermes is exposed to multiple fundamental pressures that justify a negative outlook, including potential erosion in its royalty and proprietary product businesses that could weigh on earnings through the remainder of the decade. The company also faces binary downside from its early-stage orexin program, where efficacy and safety still need validation in larger studies, while commercial headwinds in the injectable franchise could further weaken performance. In addition, significant Medicaid exposure, competitive and generic threats, regulatory and manufacturing risk, and heavy R&D and SG&A outlays raise the chance of a commercial shortfall or dilutive financing.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.