10 Most Undervalued Pharma Stocks to Buy Now

4. Alkermes plc (NASDAQ:ALKS)

P/E Ratio: 14.05

Alkermes plc (NASDAQ:ALKS) is a global biopharmaceutical company headquartered in Ireland, with U.S. operations in Massachusetts and Ohio, focused on treatments for psychiatric and neurological disorders, including schizophrenia, bipolar I disorder, opioid and alcohol dependence, and sleep disorders. Its key products include LYBALVI, ARISTADA, and VIVITROL, alongside a growing pipeline in neuroscience.

A major current focus is ALKS 2680, an oral orexin 2 receptor (OX2R) agonist in development for narcolepsy types 1 and 2 and idiopathic hypersomnia (IH). In April 2025, Alkermes plc (NASDAQ:ALKS) launched the Vibrance-3 Phase II trial, a global, placebo-controlled study evaluating ALKS 2680 in 96 adults with IH. Participants will be assessed using the Epworth Sleepiness Scale, with the option to join a long-term safety extension study.

The corporation will present new findings on ALKS 2680 at SLEEP 2025, held June 8–11 in Seattle, which highlights its commitment to orexin-targeted therapies and scientific transparency.

Unlike traditional stimulant or sedative-based treatments, ALKS 2680 is designed to restore natural wakefulness by directly targeting the brain’s orexin pathway. This precision-based approach may offer more durable, disease-modifying effects for patients with chronic sleep disorders.

With a self-funded model and a focus on high-unmet-need areas in neuroscience, Alkermes plc (NASDAQ:ALKS) continues to advance innovative therapies that aim to improve patient outcomes and reshape treatment standards in complex neurological conditions, making it one of the most undervalued stocks in the biotech sector.