12 Best Psychedelic Stocks to Buy in 2025

5. Alkermes Plc (NASDAQ:ALKS)

Number of Hedge Fund Holders: 36 

Alkermes plc (NASDAQ:ALKS), standing fifth among the best psychedelic stocks to buy in 2025, specializes in neuroscience, developing treatments for mental health and neurological disorders like alcohol and opioid dependence, schizophrenia, and bipolar I disorder. The company generates revenue through its proprietary drugs, including Vivitrol, Aristada, and Lybalvi.

Alkermes plc (NASDAQ:ALKS) delivered strong financial results in 2024, with total revenue surpassing $1.5 billion, driven by its proprietary drug portfolio. The company generated over $450 million in EBITDA and ended the year debt-free with $825 million in cash. Additionally, the corporation repurchased 8 million shares, further strengthening shareholder value.

Key products performed well, with Vivitrol sales reaching $457.3 million (up 14%), Aristada growing 6% to $346.2 million, and Lybalvi surging 46% to $280 million. Meanwhile, the company is advancing its ALKS 2680 program for narcolepsy, with Phase 2 trial data expected in late 2025, positioning Alkermes plc (NASDAQ:ALKS) for growth in neurological treatments.

For 2025, Alkermes plc (NASDAQ:ALKS)’s revenue is expected to range between $1.34 billion and $1.43 billion, with adjusted EBITDA projected between $310 million and $340 million. However, the company anticipates a $215 million decline in manufacturing and royalty revenue due to the expiration of the INVEGA SUSTENNA royalty, increased R&D expenses for ALKS 2680 trials, and heightened competition in the antipsychotic market, prompting an expansion of its psychiatry sales team.