Alkermes Buy Rating on Avadel Deal and NT2 Data

Alkermes maintains a Buy rating after acquiring Avadel Pharmaceuticals, adding LUMRYZ to its hypersomnolence portfolio with robust early sales. Positive phase 2 data for alixorexton in narcolepsy type 2 supports pipeline growth. The company projects full-year 2026 revenues between $1.73 and $1.84 billion from four approved drugs.