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Fly News Breaks for July 27, 2017
ALKS
Jul 27, 2017 | 13:15 EDT
Leerink analyst Paul Matteis lowered his odds of approval for ALKS 5461, Alkermes' depression drug candidate, to 40% from 50% after the company learned that the FDA will be looking at MADRS-10 as the key assessment of efficacy, not MADRS-6, the primary endpoint in the FORWARD-5 trial. The analyst says he's now "incrementally more cautious on approvability." Matteis dropped his price target for Alkermes shares to $59 from $61 and reiterates a Market Perform rating on the name following the Q2 earnings report.
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