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Fly News Breaks for February 26, 2016
ALKS
Feb 26, 2016 | 06:01 EDT
UBS analyst Marc Goodman lowered his price target for Alkermes to $34 from $36 following the company's Q4 results and says he remains on the sidelines with respect to the shares. The analyst remains "skeptical" on the stock's near-term drives, Aristada and ALKS 5461. It will be "very difficult" for Alkermes to convince the FDA to approve ALKS 5461 on "less than perfect data," even if the FORWARD 5 study is positive, Goodman tells investors in a post-earnings research note. He also believes Aristada will have trouble surpassing Abilify Maintena's ramp as it competes for patients that are good candidates for a long acting in a genericized oral market. Goodman keeps a Neutral rating on Alkermes.