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Fly News Breaks for April 27, 2017
ALKS
Apr 27, 2017 | 13:42 EDT
Jefferies analyst Biren Amin attributes Alkermes' Q1 miss to Vivitrol and lowered his price target for the shares to $69 from $70. The analyst keeps a Buy rating on the name. Management blamed inventory destocking for the weaker than expected Vivitrol sales and reiterated the drug's outlook for 2017, Amin tells investors in a post-earnings research note. He expects the challenges Aristada observed from higher gross to net rebates in the quarter to stabilize in the second half of 2017.
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