Alkermes (ALKS) is up after reporting first-quarter 2026 results that topped expectations on revenue and showed stronger profitability on an adjusted basis. The quarter reflected early contributions from the Avadel acquisition (including LUMRYZ) and management reiterated/updated its 2026 financial expectations, reinforcing the view that the combined portfolio can drive higher sales this year. (investing.com)

For Q1 2026, Alkermes reported revenue of $392.9 million and a GAAP net loss of $66.5 million, while adjusted EBITDA came in at $80.3 million. The company disclosed LUMRYZ net sales of $39.5 million for the portion of the quarter following the Avadel close, helping lift overall proprietary product performance. (tradingview.com)

Alkermes’ 2026 outlook calls for total revenues of $1.73–$1.84 billion and adjusted EBITDA of $370–$410 million, with cost items and one-time acquisition-related impacts (including transaction costs and inventory fair-value step-up effects tied to LUMRYZ) remaining a central watch item for investors. The stock’s move suggests the market is prioritizing the revenue ramp and EBITDA trajectory over near-term GAAP losses and integration noise. (tipranks.com)

Near-term attention is likely to center on the pace of LUMRYZ uptake, any updated commentary on sleep-medicine commercialization, and whether expenses tied to acquisition integration and accounting step-ups moderate as the year progresses. Investors will also track whether management can deliver within the updated 2026 ranges while absorbing higher interest and transaction-related costs. (tipranks.com)