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Fly News Breaks for February 15, 2018
NKTR, BMY, ALKS
Feb 15, 2018 | 05:15 EDT
Citi analyst Liav Abraham says that while Alkermes' (ALKS) fiscal 2018 revenue outlook came in below expectations, catalysts are the "major force this year." The analyst expects data from two of the company's pivotal programs and clarity around the regulatory pathway for ALKS 5461. Further, the strategic value of ALKS 4230 "can also not be discounted," following the collaboration between Bristol-Myers (BMY) and Nektar Therapeutics (NKTR), Abraham tells investors in a post-earnings research note. ALKS 4230, an IL-2 inhibitor, gives Alkermes optionality as it is not an "obvious" fit into the company's psychiatry-oriented portfolio, the analyst contends. She keeps a Neutral rating on Alkermes with a $62 price target.
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