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Fly News Breaks for July 12, 2016
ALKS
Jul 12, 2016 | 05:30 EDT
Barclays analyst Jonathan Eckard raised his price target for Alkermes to $65 from $50 saying growth of the company's growth of wholly-owned Vivitrol is "difficult to ignore." The shares closed yesterday up 24c to $49.49. There are many signs of a country-wide focus on dealing with the opioid epidemic, Eckard tells investors in a research note. The analyst raised his Vivitrol revenue estimate for 2016 to $226M from $208M and his 2022 estimate to $800M from $380M. Eckard expects recognition of Alkermes' opioid addiction treatment value potential to increase over the remainder of 2016. He keeps an Overweight rating on shares of Alkermes.
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