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Fly News Breaks for February 16, 2018
ALKS
Feb 16, 2018 | 08:45 EDT
In a post-earnings research note titled "While 4230 Excites the Street, We Look for Progress With Vivitrol and 5461," Credit Suisse analyst Vamil Divan raised his price target for Alkermes shares to $70 from $66 and kept an Outperform rating on the name. The analyst attributes the lower than expected 2018 earnings outlook to added investment by the company as it prepares for the potential approval and launch of ALKS 5461. His 2020 Vivitrol estimate is now $464.72M, down from $639.85M, although he still sees potential for the product to ultimately exceed $1B in annual sales as increased funding is dedicated to the growing opioid epidemic in the U.S. Divan agrees with "some of the early excitement around" ALKS 4230, but wants to see "some actual promising human data" before adding any potential revenue to his model.
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