May. 1 at 3:09 PM
Stifel reiterated
$ALKS Buy-
$42, said "We remain Buy rated following
$ALKS' solid 1Q25 update that was highlighted by both a top- and bottom-line beat, with management also reiterating FY25 guidance."
$JAZZ $HRMY $CNTA $TAK
Stifel added, "For the stock [
$ALKS ], the base business continues to provide a reasonable floor as the focus now has largely shifted to orexin, where we remain bullish ahead of two major ph2 readouts for ALKS2680 this year.
Management refined timelines noting NT1 data are expected in "early" 3Q, while NT2 data are expected in the fall.
NT1 is largely expected to work, with the most salient questions here being around safety and NT2 POS.
We've grown optimistic on both and, for the stock, we think success across both would de-risk a substantial commercial opportunity. We've updated our model for the quarter; TP remains
$42."
