Mizuho raised the firm's price target on Alkermes to $65 from $53 and keeps an Outperform rating on the shares. The stock is up 51% since the Q1 earnings report on enthusiasm the orexin 2 receptor agonist space can move beyond sleep disorders, the analyst tells investors in a research note. Investors also believe Alkermes can emerge as a "strategic target" post the Centessa Pharmaceuticals takeover by Eli Lilly, Mizuho contends. The firm's new price target reflects higher market share for Alkermes' alixorexton in narcolepsy type 2 and $3 per share for ALKS-7290, which Mizuho sees as a "promising asset in the sizable" ADHD market.
