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Zacks #1 Stocks on the Move 06/19/2013
| Company Name | Symbol | %Change |
|---|---|---|
| LUMOS NETWOR | LMOS | 4.51% |
| SUPPORTCOM I | SPRT | 4.42% |
| SONIC FOUNDR | SOFO | 4.10% |
| SUMITOMO MIT | SMFG | 3.57% |
| RENEWABLE EN | REGI | 3.47% |
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Alkermes has been performing well since the purchase of Elan's EDT unit last year, thanks to the expanded portfolio. Moreover, the US approval of type II diabetes drug, Bydureon, is a major positive for Alkermes as the drug offers significant commercial potential. We are also pleased by the pipeline progress at Alkermes.
We believe that there is significant scope for stock price appreciation from current levels. Our price target of $24.00 is based on 6.1x our fiscal 2013 revenue estimate.
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