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ALKS

Alkermes

$58.07

0.3 (0.52%)

14:16
11/30/16
11/30
14:16
11/30/16
14:16

USPTO institutes inter partes review of Alkermes '061 patent

The U.S. Patent and Trademark Office's Patent Trial and Appeal Board determined that Luye Pharma Group has demonstrated a reasonable likelihood that it would prevail in showing the unpatentability of claims 1-13 and 17-23 of U.S. Patent No. 6,667,061 held by Alkermes. Accordingly, the PTAB has instituted a requested inter partes review of those claims. The '061 patent is an Orange Book-listed patent for each of Bydureon, Risperdal Consta and Vivitrol.

ALKS Alkermes
$58.07

0.3 (0.52%)

10/21/16
MSCO
10/21/16
UPGRADE
Target $62
MSCO
Equal Weight
Morgan Stanley ups Alkermes to neutral with $62 target
Morgan Stanley analyst David Risinger upgraded Alkermes to Equal Weight from Underweight after ALKS 5461 succeeded in its third Phase III trial. The analyst raised his price target for the shares to $62 from $45. Risks remain, but an FDA approval can't be ruled out given the unmet need in treatment-resistant depression, Risinger tells investors in a research note. He pegs the approval odds at 50%. Alkermes is trading up 30% to $56.51 in morning trading.
10/24/16
UBSW
10/24/16
NO CHANGE
Target $57
UBSW
Neutral
Alkermes price target raised to $57 from $41 at UBS
UBS analyst Marc Goodman raised his price target for Alkermes to $57 citing the positive Phase III data for ALKS 5461. There is "some chance" of approval based on the current dataset, but the FDA typically requires two positive Phase III studies for approving depression drugs, Goodman tells investors in a research note. The analyst raised the likelihood of approval for ALKS 5461 from 20% to 60%. He keeps a Neutral rating on Alkermes, however, saying the risk/reward is appropriately reflected at current share levels.
11/03/16
LEHM
11/03/16
NO CHANGE
Target $66
LEHM
Overweight
Alkermes Q3 highlighted pipeline advances, says Barclays
Barclays analyst Douglas Tsao believes Alkermes' Q3 earnings report highlighted key advances across its pipeline. The analyst, however, feels that "lumpiness" in Vivitrol gross-to-net over recent quarters "may warrant caution" on the drug's sales trajectory. Tsao still harbors "residual caution" on whether the FDA will accept a single Phase 3 trial for approval of ALKS-5461. Investors though will take comfort in management's reiteration of 2016 guidance, Tsao writes in a post-earnings research note. He keeps an Overweight rating on Alkermes with a $66 price target.
11/11/16
JEFF
11/11/16
NO CHANGE
Target $70
JEFF
Buy
Jefferies says NIH study could be positive for Alkermes' Vivitrol
Jefferies analyst Biren Amin is highlighting a "little known" head-to-head study being conducted at the National Institutes of Health to compare the efficacy of Alkermes' Vivitrol and Indivior's Suboxone. The study enrolled treatment-seeking heroin- and/or prescription opioid-dependent patients admitted into a detox unit, and following a detoxification regimen are randomized to receive Vivitrol or Suboxone treatment for six months, Amin tells investors in a research note. He believes the outcome of the study could have positive implications on Vivitrol's long-term outlook. The analyst does not expect Vivitrol to demonstrate superiority to Suboxone on the primary outcome, but thinks the trial could "illuminate some important differences" and show a trend of improvement for Vivitrol in relapse rate at six months. He points out that Alkermes continues to estimate Vivitrol is currently only capturing 1%-2% market share and sees "significant" room for upside. Data from the study could be seen by year-end 2017 or early 2018, Amin writes. He keeps a Buy rating on Alkermes with a $70 price target.

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