Alkermes, Plc (ALKS)
by Zacks Equity ResearchAugust 07, 2012 | Comments : 0 Recommended this article: (0)
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Results were boosted by the inclusion of drugs belonging to the EDT unit of Elan. This was the third full quarter following the merger with EDT. Alkermes reiterated its guidance for fiscal 2013. We are also impressed by the FDA approval and launch of diabetes drug Bydureon, which offers significant commercial potential.
Overall, we are pleased by the pipeline progress at Alkermes. We retain our Outperform recommendation on the stock. Our price target of $22.00 is based on 5.6x our fiscal 2013 revenue estimate.
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