Jefferies on Alkermes (ALKS): 'We continue to think '2680 has a clean safety profile'

Jefferies analyst Akash Tewari reiterated a Buy rating and $41.00 price target on Alkermes (NASDAQ: ALKS).

The analyst comments "We found a paper investigating TAK-994's liver tox - The paper shows that '994's liver tox is due to reactive intermediates transiently formed during oxidative metabolism & not related to OX2. Overall, we think this further shows that '994's liver tox was related to its scaffold, which has limited read-across to ALKS-2680 & the class. We continue to think '2680 has a clean safety profile."

For an analyst ratings summary and ratings history on Alkermes click here. For more ratings news on Alkermes click here.

Shares of Alkermes closed at $31.19 yesterday.

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