On Thursday, JPMorgan reiterated a neutral rating on Alkermes (NASDAQ:) with a price target of $32.00. The firm’s analyst highlighted Alkermes’ continued investment in its orexin portfolio following the company’s Orexin Portfolio Strategy Review. Management’s decision to develop ALKS-2680 for idiopathic hypersomnia (IH) was among the key points discussed, alongside pre-clinical data suggesting potential applications in attention, impulsivity, and mood disorders.

Alkermes is currently conducting two phase II studies for narcolepsy types 1 and 2, known as VIBRANCE-1 and VIBRANCE-2, respectively. Results from these studies are anticipated in the second half of 2025. Additionally, a phase II study for IH, named VIBRANCE-3, is expected to…