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Fly News Breaks for July 29, 2016
ALKS
Jul 29, 2016 | 07:54 EDT
Credit Suisse analyst Vamil Divan says Alkermes' Q2 results, while solid overall, raised some questions. The stock came under pressure yesterday given some questions around net pricing for Vivitrol as well development timelines around ALKS 8700, Divan tells investors in a post-earnings research note. Vivitrol sales slightly missed what some investors were hoping for since an increased percentage of volume came at lower net prices from Medicaid customers, the analyst contends. Divan remains bullish on the overall story and views the stock's risk/reward as attractive ahead of the FORWARD-5 data by year-end. He raised his price target for the shares to $52 from $45 and keeps an Outperform rating on Alkermes.