| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 21 | 107.1x | 17.2x | Bottom tier | |
Growth | 49 | 10.8% | 7.1% | Around median | |
Quality | 77 | 3.4% | 4.5% | Top tier | |
Safety | 47 | 5.4x | 2.6x | Around median | |
Capital Return | 24 | 0.00% | 0.19% | Bottom tier | |
Momentum | 79 | 70.1% | 0.5% | Top tier | |
Sentiment | 64 | 10 | 3 | Around median |
10-year US Treasury yield 5.29% as of 2026-09-30. Estimates computed from company data and analyst targets, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Alkermes plc develops and commercializes specialized neuroscience treatments, generating revenue from three main areas: addiction treatment through VIVITROL, psychiatry through ARISTADA and LYBALVI, and sleep disorders through LUMRYZ. It also receives manufacturing and royalty revenue from VUMERITY, long-acting INVEGA products, and RISPERDAL CONSTA, while cash flows from the commercial business fund a future orexin 2 receptor agonist platform that includes alixorexton, ALKS 7290, and ALKS 4510.
In Q2 fiscal year 2026, revenue was $496.0 million and gross profit was $397.9 million, representing a gross margin of approximately 80.2%, while GAAP net income was limited to $501 thousand. Company-owned products generated net sales of $411.7 million, or approximately 83% of revenue, comprising $124.5 million from VIVITROL, $96.7 million from ARISTADA, $94.0 million from LYBALVI, and $96.6 million from LUMRYZ; the remaining $84.3 million came from manufacturing and royalties.
Q2 fiscal year 2026 reflects Alkermes' shift toward sleep and orexin biology following the acquisition of Avadel; LUMRYZ recorded its first full quarterly contribution, with approximately 3,900 patients on treatment. At the same time, research and development expenses rose to $112.9 million from $77.4 million a year earlier, while adjusted EBITDA was $139.2 million and cash and investments totaled approximately $690 million at quarter-end, illustrating that the commercial products are funding an expanding but costly clinical program.
Automated analysis for informational purposes only — not investment advice.
The average analyst price target is $60.6, within a relatively wide range of $54 to $65, compared with a 52-week range of $25.17 to $55.67, and the average target is approximately 8.9% above the annual high. The consensus is Buy, but reaching the targets assumes continued growth in LUMRYZ and LYBALVI and success in the next development stages of alixorexton. Conversely, the expected net loss for fiscal year 2026, clinical trial risks, and competition justify a cautious spread between the lowest and highest targets.
Figures in the text are as of 2026-08-30; the live price is shown at the top of the page.
The most prominent commercial driver came from the addition of LUMRYZ following the acquisition of Avadel, as the product recorded $96.6 million in Q2 fiscal year 2026, its first full quarter of contribution. The number of patients on treatment reached approximately 3,900, representing 25% year-over-year growth and a net addition of approximately 300 patients from the previous quarter. The company expects LUMRYZ sales of $350 million to $370 million during fiscal year 2026, of which $315 million to $335 million will be recorded by Alkermes.
Alixorexton is the advanced asset in Alkermes' orexin 2 receptor agonist platform, and the company is targeting it for the treatment of narcolepsy types 1 and 2 and idiopathic hypersomnia. The extension study demonstrated sustained improvements in wakefulness, cognition, and fatigue for up to nine months, while the positive phase 2 results published on August 24, 2026 supported the clinical profile. However, the phase 3 Brilliance studies are still enrolling patients, so the risks related to ultimate efficacy and regulatory approval have not yet been resolved.
Revenue was $496.0 million and gross profit was $397.9 million, representing a gross margin of approximately 80.2%. The company recorded GAAP net income of $501 thousand, while adjusted EBITDA was $139.2 million. Alkermes ended the quarter with approximately $690 million in cash and investments, despite research and development expenses rising to $112.9 million and selling, general, and administrative expenses reaching $217.6 million.
No; VIVITROL generated sales of $124.5 million, ARISTADA generated sales of $96.7 million, and LYBALVI generated sales of $94.0 million in Q2 fiscal year 2026. Manufacturing and royalty revenue added $84.3 million, including $30.6 million from VUMERITY, $27.5 million from long-acting INVEGA products, and $20.9 million from RISPERDAL CONSTA. However, management said that most of the expected RISPERDAL CONSTA manufacturing revenue for fiscal year 2026 had already been recorded in that quarter and that it did not expect a material contribution from it for the remainder of the year.
The first risk is that alixorexton, ALKS 7290, and ALKS 4510 remain clinical-stage assets, with efficacy validation and regulatory approval stages still ahead. The second is that Q3 fiscal year 2026 guidance calls for revenue of $450 million to $470 million and adjusted EBITDA of $80 million to $100 million, both below Q2 fiscal year 2026. Competition from Takeda and Lilly is also intensifying, while LYBALVI gross-to-net adjustments are expected to rise from approximately 36% to the high-30% range during the second half.
The analyst consensus is Buy, with an average price target of $60.6, a low target of $54, and a high target of $65. The average target is approximately 8.9% above the 52-week range high of $55.67, while the annual range extends to a low of $25.17. This distribution reflects high expectations for growth in the sleep franchise and the success of alixorexton, but it also reveals meaningful differences among analysts regarding the value of clinical and commercial execution.
