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Fly News Breaks for February 16, 2016
ALKS
Feb 16, 2016 | 08:18 EDT
Leerink analyst Paul Matteis reiterates an Outperform rating on Alkermes after meeting with the company's CEO Richard Pops and CFO Jim Frates. Management believes the Street should remove ALKS 5461 from models entirely following the FORWARD3 and FORWARD4 trial results, Matteis tells investors in a research note. Despite the failure, management thinks FORWARD4 showed convincing evidence of activity, however, Matteis points out. The analyst views 2016 as a "relatively quiet" year for Alkermes outside of potential FORWARD5 data, but believes the current valuation offers pipeline optionality.
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