Alkermes combines 27% revenue growth, a four-quarter beat streak and strong cash conversion, but the price already sits near the analyst target and earnings arrive in two days.
Thesis pillars
- Strong Revenue Growth↓Deteriorating
- Perfect Beat Streak↑Improving
- Cash Conversion Quality→Stable
- +2 more pillars — see the Why tab for full reasoning
Pillars as of Nov 1, 2026, based on the 10-K filed Feb 25, 2026
Alkermes plc (ALKS) Stock Analysis
Healthcare · Drug Manufacturers - Specialty & Generic
Hold if already holding. Not a fresh buy at $45.69, but acceptable to hold if already in. Reason: Overbought (RSI 82).
Alkermes plc develops and commercializes neuroscience medicines including ARISTADA, LYBALVI, VIVITROL, and LUMRYZ (acquired via Avadel in February 2026) exclusively in the U.S. Revenue flows from direct product sales plus manufacturing fees and royalties from licensees Janssen... Read more
Hold if already holding. Not a fresh buy at $45.69, but acceptable to hold if already in. Reason: Overbought (RSI 82). Chart setup: No clear chart pattern; technical signals are mixed. Maintain position. Not compelling to add more. Score 5.5/10, moderate confidence.
Passes 5/7 gates (positive momentum, clean insider activity, earnings proximity no date, semi cycle peak clear, materials cycle peak clear). Fails on favorable risk/reward ratio. Suitability: moderate.
About Alkermes plc
About Alkermes plc
Alkermes' five marketed neuroscience brands in the U.S. as of early 2026 are ARISTADA and ARISTADA INITIO (aripiprazole lauroxil, schizophrenia), LYBALVI (olanzapine/samidorphan, schizophrenia and bipolar I disorder), VIVITROL (naltrexone, alcohol and opioid dependence), and LUMRYZ (sodium oxybate, narcolepsy) — the last added via the Avadel Acquisition completed February 12, 2026 at $21.00 per share plus a contingent value right. Alkermes also earns royalties and manufacturing revenue from licensees; revenues from Janssen collaborative arrangements accounted for approximately 9% of consolidated revenues in 2025, down from 17% in 2024 and 31% in 2023.
Revenue flows through three channels. Direct proprietary product sales — ARISTADA, LYBALVI, VIVITROL, and LUMRYZ — target U.S. specialty channels in psychiatry and addiction medicine. Manufacturing revenue comes from RISPERDAL CONSTA microspheres, which Alkermes exclusively produces at its Wilmington, Ohio facility for Janssen at a minimum fee of 7.5% on net unit sales. Royalty revenue is earned from Janssen's long-acting INVEGA paliperidone products and from Biogen's worldwide sales of VUMERITY (diroximel fumarate, multiple sclerosis) at a 15% royalty rate. LUMRYZ carries a mandatory FDA REMS requiring certified prescribers and pharmacies and patient enrollment, constraining distribution; the FDA granted seven years of orphan drug exclusivity through May 1, 2030 for adult narcolepsy and October 16, 2031 for pediatric narcolepsy. The pipeline lead asset, alixorexton, received FDA Breakthrough Therapy designation for narcolepsy type 1 in December 2025, with Phase 3 initiation planned for Q1 2026.
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Alixorexton is Alkermes' sole Phase 3-bound candidate and the primary organic growth vector beyond the existing portfolio. Positive Phase 2 topline data from Vibrance-1 (NT1) and Vibrance-2 (NT2) were disclosed in 2025, and Vibrance-3 (IH, phase 2) remains ongoing. If the Phase 3 program fails to demonstrate efficacy, the company would rely on existing marketed products and royalty streams — including Janssen arrangements that have declined from 31% of consolidated revenues in 2023 to 9% in 2025. LUMRYZ is also subject to a royalty of 3.85% of net narcolepsy sales payable to Jazz Pharmaceuticals under the Avadel Settlement Agreement, reducing net revenue from the newly acquired asset.
See also: Healthcare · Drug Manufacturers - Specialty & Generic
From Alkermes plc's most recent 10-K filing, extracted June 9, 2026.
Recent developments
updated Oct 29, 2026Recent Developments — Alkermes plc
Latest news
- NEWS Alkermes Q3 Preview: The Pipeline Looks Strong, But Earnings Tell Another Story - Seeking Alpha — Seeking Alpha Oct 29, 2026 negative
- NEWS Alkermes: The Orexin Upside Is Real, But Takeda And Lilly Stand In The Way (Downgrade) - Seeking Alpha — Seeking Alpha Sep 23, 2026 negative
- NEWS Alkermes: The Orexin Upside Is Real, But Takeda And Lilly Stand In The Way (Downgrade) - seekingalpha.com — seekingalpha.com Sep 23, 2026 negative
- NEWS Alkermes Posts Positive Data From Phase I ADHD Study on ALKS 7290 - Eastern Progress — Eastern Progress Sep 22, 2026 positive
- NEWS Alkermes Posts Positive Data From Phase I ADHD Study on ALKS 7290 - easternprogress.com — easternprogress.com Sep 22, 2026 positive
Latest item Oct 29, 2026 · Generated 2026-11-04T11:49:36Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- LOWCustomerJanssen9.0%10-K Item 1: 'Revenues from our collaborative arrangements with Janssen accounted for approximately 9% ... of our consolidated revenues'
- MEDIUMCustomerBiogen / VUMERITY10-K Item 1A: 'substantial revenue from ... Biogen's sales of VUMERITY'
Material Events(8-K, last 90d)
- 2026-05-20Item 5.02LOWShareholders at the May 20, 2026 Annual Meeting approved amendments to the Alkermes 2018 Stock Option and Incentive Plan, increasing ordinary shares authorized for issuance by 5,900,000. Routine compensatory arrangement; no departures or appointments.SEC filing →
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Editorial policy
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Rating Breakdown
1 floor-breaker
Technicals below the gate floor. Component breakdown shows what dragged the score down.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Hold if already holding. Not a fresh buy at $45.69, but acceptable to hold if already in. Reason: Overbought (RSI 82). Chart setup: No clear chart pattern; technical signals are mixed. Maintain position. Not compelling to add more. Analyst target $50.59 (+10.7%), stop $42.49 (−7.5%), A.R:R 0.7:1. Score 5.5/10, moderate confidence.
Analyst target: $50.59 (+10.7% upside). Analyst target $50.59 (+10.7%), stop $42.49 (−7.5%), A.R:R 0.7:1. Stop-loss: $42.49.
Overbought (RSI 82).
Alkermes plc trades at a P/E of N/A (forward 25.3). TrendMatrix value score: 4.7/10. Verdict: Hold.
27 analysts rate ALKS, with a consensus score of 3.9/5. 19 analysts publish price targets averaging $56.
What does Alkermes plc do?Alkermes plc develops and commercializes neuroscience medicines including ARISTADA, LYBALVI, VIVITROL, and LUMRYZ...
Alkermes plc develops and commercializes neuroscience medicines including ARISTADA, LYBALVI, VIVITROL, and LUMRYZ (acquired via Avadel in February 2026) exclusively in the U.S. Revenue flows from direct product sales plus manufacturing fees and royalties from licensees Janssen (RISPERDAL CONSTA manufacture) and Biogen (VUMERITY); Janssen accounted for approximately 9% of 2025 consolidated revenues.