ZacksBy Zacks Equity Research | Zacks – 8 hours ago
We are upgrading Alkermes Plc (ALKS) to Outperform following the upwardly revised adjusted earnings guidance provided by the company for fiscal 2013. The guidance was boosted following the successful completion of the refinancing of Alkermes' previously outstanding senior secured bank debt.
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.
Recent ALKS News
- Alkermes plc Completes Sale of Athlone, Ireland Facility to Novo Nordisk • PR Newswire (US) • 05/02/2024 11:00:00 AM
- Alkermes plc Reports First Quarter 2024 Financial Results • PR Newswire (US) • 05/01/2024 11:00:00 AM
- Alkermes Announces Initiation of Vibrance-1 Phase 2 Study Evaluating ALKS 2680 for the Treatment of Narcolepsy Type 1 • PR Newswire (US) • 04/24/2024 11:00:00 AM
- Alkermes to Report First Quarter Financial Results on May 1, 2024 • PR Newswire (US) • 04/17/2024 08:00:00 PM
- Alkermes to Report First Quarter Financial Results on May 1, 2024 • PR Newswire (US) • 04/17/2024 08:00:00 PM
- Alkermes Announces Positive Topline Results From Phase 1b Study of ALKS 2680 Demonstrating Improved Wakefulness in Patients With Narcolepsy Type 2 and Idiopathic Hypersomnia • PR Newswire (US) • 04/09/2024 11:00:00 AM
- Alkermes Announces Positive Topline Results From Phase 1b Study of ALKS 2680 Demonstrating Improved Wakefulness in Patients With Narcolepsy Type 2 and Idiopathic Hypersomnia • PR Newswire (US) • 04/09/2024 11:00:00 AM
- Alkermes Presents Analyses From Long-Term Safety Study of LYBALVI® (olanzapine and samidorphan) at 2024 Congress of the Schizophrenia International Research Society • PR Newswire (US) • 04/08/2024 11:00:00 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 03/07/2024 12:09:07 PM
- Alkermes Announces Appointment of Nancy S. Lurker to Board of Directors • PR Newswire (US) • 03/07/2024 12:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/27/2024 09:09:59 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/27/2024 09:08:57 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/27/2024 09:07:33 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/27/2024 09:04:15 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/27/2024 09:03:26 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/23/2024 09:14:14 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/23/2024 09:13:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/23/2024 09:09:13 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/23/2024 09:07:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/23/2024 09:05:45 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/23/2024 09:04:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/21/2024 10:40:40 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/21/2024 10:38:52 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/21/2024 10:33:46 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/21/2024 10:32:27 PM
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