Alkermes (ALKS) has been in focus after announcing extensive new data presentations across its psychiatry and sleep medicine franchises, along with the launch of a phase 2 trial for orexin 2 agonist ALKS 7290 in major depressive disorder.
The recent psychiatry and sleep data presentations, together with the new ALKS 7290 phase 2 study, arrive after a sharp re-rating, with Alkermes posting a 62.42% year-to-date share price return and a 96.00% three-year total shareholder return. However, momentum has eased with a 7.08% decline over the past 90 days. Capitalize on Alkermes' psychiatry and sleep momentum by scanning a curated 35 healthcare AI stocks that could benefit from similar data catalysts and clinical readouts.
Bulls point to Alkermes’ psychiatry and sleep pipeline and recent data flow. Bears focus on the earnings volatility and recent share pullback. As you weigh the numbers, which side does the current valuation appear to favor?
Most Popular Narrative: 18.8% Undervalued
Alkermes last closed at $45.90, while the most followed narrative pegs fair value closer to $56.56. As a result, the current price sits at a material discount to that framework.
The current valuation implies investors are already pricing in meaningful success for the orexin platform and LUMRYZ expansion, even as Alkermes is guiding to a GAAP net loss in 2026 alongside positive EBITDA.
See why 9 investors see Alkermes as 19% undervalued.
Result: Fair Value of $56.56 (UNDERVALUED)
Still, the Alkermes narrative depends on orexin trials and LUMRYZ expansion delivering supportive data and approvals, while rising R&D and guided 2026 GAAP losses remain unresolved swing factors.
Find out about the key risks to this Alkermes narrative.
Next Steps
If the Alkermes debate feels finely balanced, use that to your advantage by testing the assumptions yourself and focusing on the upside drivers that investors already highlight through the 3 key rewards.
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