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Fly News Breaks for October 21, 2016
ALKS
Oct 21, 2016 | 05:46 EDT
Jefferies analyst Biren Amin raised his price target for Alkermes to $70 saying last night's Phase III data for ALKS 5461 in major depressive disorder is a "positive surprise." The analyst projects peak risk adjusted sales of $361M in 2024. He says questions may arise regarding the FDA's thoughts on MADRS6 and the methodology of using an average of several weeks to establish a treatment effect over baseline across both stages. Amin keeps a Buy rating on Alkermes.
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