Alkermes plc.
ALKS evidence brief
What we can confirm
What it means
What to watch
Prepared research question
What matters most for ALKS—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · ALKS
Alkermes plc is a global biopharmaceutical company applying neuroscience expertise to develop treatments for psychiatric and neurological disorders, with a portfolio of proprietary commercial products and a pipeline including late-stage candidates in narcolepsy and idiopathic hypersomnia.
Key risk: High debt level
BioSniper Score
Based on 6 of 6 signals
Financial data as of Jun 30, 2026.
Tracking 6 pipeline candidates · 11 clinical trials · 10 catalysts · 4 FDA decisions for Alkermes plc..
Alkermes plc is a global biopharmaceutical company applying neuroscience expertise to develop treatments for psychiatric and neurological disorders, with a portfolio of proprietary commercial products and a pipeline including late-stage candidates in narcolepsy and idiopathic hypersomnia.
- Alkermes is a global biopharmaceutical company focused on developing treatments for psychiatric and neurological disorders [sec · filed 2026-04-06].
- The company has a portfolio of proprietary commercial products for alcohol dependence, opioid dependence, schizophrenia, bipolar I disorder, and narcolepsy [sec · filed 2026-04-06].
- As of 2026-06-30, Alkermes reported cash & equivalents of $511.5M, total revenue of $496.0M, net income of $0.5M, shareholders' equity of $1,819.3M, and total debt of $1,551.5M [sec].
- Alkermes has a pipeline of clinical and preclinical candidates, including late-stage candidates in narcolepsy and idiopathic hypersomnia [sec · filed 2026-04-06].
- In February 2025, Alkermes completed the acquisition of Avadel, accelerating its entry into the sleep medicine market [sec · filed 2026-04-06].
What works
- Alkermes achieved GAAP net income of approximately $242 million and Adjusted EBITDA of $394 million in 2025, demonstrating strong profitability and cash flow [sec · filed 2026-04-06].
- The company's lead orexin 2 receptor agonist, alixorexton, received FDA Breakthrough Therapy designation for NT1, indicating potential for accelerated development [sec · filed 2026-04-06].
- Alkermes successfully completed the acquisition of Avadel in February 2025, expanding its commercial portfolio and presence in the sleep medicine market [sec · filed 2026-04-06].
- The company achieved commercial order fulfillment levels in excess of 98% and no critical findings from regulatory inspections, indicating strong operational execution [sec · filed 2026-04-06].
What to weigh
- Alkermes has a significant debt burden of $1,551.5M as of 2026-06-30, which may impact financial flexibility [sec].
- The company's net income was only $0.5M as of 2026-06-30, suggesting thin profitability in the most recent period [sec].
- Sales of key products ARISTADA, VIVITROL, and LYBALVI fell below threshold performance levels in certain periods, indicating commercial challenges [sec · filed 2025-04-07].
- The company's strategic shift away from profitability targets to focus on orexin development and commercial investment may delay near-term margin improvement [sec · filed 2026-04-06].
From the filings
Quoted directly from source documents.
Alkermes is a global biopharmaceutical company focused on neuroscience.
“is a global biopharmaceutical company. We apply our decades of deep neuroscience expertise to develop medicines designed to help people living with complex and difficult-to-treat psychiatric and neurological disorders.”
SEC filings · April 6, 2026
Catalyst timeline
- 2026-09-01 · Phase3_Topline — Phase 3 Topline: A Phase 3, Randomized, Double-Blind, 52-Week Study of OLZ/SAM vs Olanzapine to Evaluate Weight Gain — Topline results from a Phase 3 study comparing OLZ/SAM to olanzapine for weight gain will be released.
- 2027-06-01 · Phase3_Topline — Phase 3 Topline: A Phase 3, Randomized, Double-Blind, Placebo-Controlled Study to Evaluate the Efficacy and Safety of — Topline results from a Phase 3 placebo-controlled study for an undisclosed candidate are expected.
- 2027-07-01 · Phase3_Topline — Phase 3 Topline: A Phase 3, Randomized, Double-Blind, Placebo-Controlled Study to Evaluate the Efficacy and Safety of — Topline results from another Phase 3 placebo-controlled study are expected.
- 2027-09-01 · Phase3_Topline — Phase 3 Topline: Long-term, Safety Extension Study of OLZ/SAM in Pediatric Subjects With Schizophrenia or Bipolar I D — Topline results from a long-term safety extension study of OLZ/SAM in pediatric patients are expected.
- 2028-06-01 · Phase3_Topline — Phase 3 Topline: An Open-Label, Long-Term Extension Study to Investigate the Safety, Tolerability, and Durability of — Topline results from an open-label long-term extension study are expected.
- 2029-10-15 · Patent_Expiry · VIVITROL — Patent/Exclusivity Expiry: VIVITROL — Patent exclusivity for VIVITROL expires, potentially allowing generic competition.
- 2033-10-29 · Patent_Expiry · VUMERITY — Patent/Exclusivity Expiry: VUMERITY — Patent exclusivity for VUMERITY expires.
- 2039-04-06 · Patent_Expiry · ARISTADA — Patent/Exclusivity Expiry: ARISTADA — Patent exclusivity for ARISTADA expires.
Risks & what to watch (4)›
Key risks
- High debt level — Total debt of $1,551.5M as of 2026-06-30 may constrain financial flexibility and increase interest costs [sec].
- Thin net income — Net income of only $0.5M as of 2026-06-30 indicates low profitability in the latest period [sec].
- Commercial underperformance — Sales of ARISTADA, VIVITROL, and LYBALVI fell below threshold levels in certain periods, suggesting market challenges [sec · filed 2025-04-07].
- Pipeline execution risk — Clinical development of orexin agonists and other candidates may face delays or negative results [sec · filed 2026-04-06].
What to watch
- Phase 3 topline results for OLZ/SAM in schizophrenia or bipolar I disorder expected in September 2026 [catalyst].
- Phase 3 topline results for other pipeline candidates expected in 2027 and 2028 [catalyst].
- Patent expiry for VIVITROL in October 2029, which could impact revenue [catalyst].
- Commercial performance of VIVITROL, ARISTADA, and LYBALVI in upcoming quarters [sec · filed 2026-04-06].
Sources: SEC filings · Generated August 28, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 6 of 6 signals · derived from public data
Profitable (positive operating cash flow)
D/E 1.43 · 4% dilution
Lead: Approved
6 candidates
10 upcoming, next in ~2d
0 buys · 17 sells (180d)
Catalysts
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
387
Total value held
$6.24B
| Holder | Shares | Value |
|---|---|---|
| blackrock, inc. | 28,314,410 | $1.00B |
| vanguard capital management llc | 14,854,794 | $525.3M |
| baker bros. advisors lp | 10,012,267 | $354.0M |
| vanguard portfolio management llc | 9,511,112 | $336.3M |
| state street corp | 9,465,286 | $334.7M |
| renaissance technologies llc | 6,160,428 | $217.8M |
| american century companies inc | 6,072,103 | $214.7M |
| dimensional fund advisors lp | 4,522,378 | $159.9M |
| commodore capital lp | 4,200,000 | $148.5M |
| geode capital management, llc | 4,182,267 | $147.9M |
Showing top 10 of 387 institutional holders of Alkermes plc.. Open the full 13F history after sign-in.
Short Interest
as of Apr 19, 2026- % of float
- 15.9%
- Days to cover
- 7.0
- Shares short
- 19,013,418
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
ALKS short interestGovernance
Frequently asked questions
What is the AI investment thesis for Alkermes plc.?
Alkermes plc is a global biopharmaceutical company applying neuroscience expertise to develop treatments for psychiatric and neurological disorders, with a portfolio of proprietary commercial products and a pipeline including late-stage candidates in narcolepsy and idiopathic hypersomnia.
What is Alkermes plc.'s lead drug candidate?
Alkermes plc.'s most advanced tracked candidate is ARISTADA (Approved) for Treatment of schizophrenia.
What is Alkermes plc.'s next catalyst?
Alkermes plc.'s next tracked catalyst is a Phase3_Topline event — "Phase 3 Topline: A Phase 3, Randomized, Double-Blind, 52-Week Study of OLZ/SAM vs Olanzapine to Evaluate Weight Gain " — expected September 1, 2026.
Who is the CEO of Alkermes plc.?
Mr. Blair C. Jackson is the chief executive officer of Alkermes plc. (ALKS).
Where is Alkermes plc. headquartered?
Alkermes plc. (ALKS) is headquartered in Dublin, Ireland.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.