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Fly News Breaks for April 16, 2018
ALKS
Apr 16, 2018 | 13:14 EDT
Credit Suisse analyst Vamil Divan raised his price target for Alkermes to $63 after the FDA accepted the new drug application filing for ALKS 5461 two weeks after sending a Refusal to File letter. The analyst says some of his confidence in the drug is renewed, but he admits this is an "unusual situation." An Advisory Committee meeting to discuss the application will likely be held in Q4 and will be important indicator for the FDA's ultimate approval decision, Divan tells investors in a research note. He maintains an Outperform rating on Alkermes.
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