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Fly News Breaks for June 1, 2016
ALKS
Jun 1, 2016 | 10:01 EDT
Evercore ISI analyst Umer Raffat says he disagrees with shares of Alkermes opening the trading day lower. Data from FORWARD-4 revealed on this morning's conference call appear to imply a trend favoring the active for the company's depression treatment candidate, Raffat tells investors in a research note. The analyst believes, however, that the FORWARD-5 trial has to hit statistical significance for the "stock to work through year-end." He has a Buy rating on Alkermes with a $59 price target. The stock is down 35c to $46.06 in early trading.
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