UPDATE: Leerink Leerink Swann Upgraded Alkermes (ALKS) to Outperform, Raises Valuation Range to $16-$19

Leerink Swann upgraded shares of Alkermes (NASDAQ: ALKS) today to an Outperform rating from its previous rating of Market Perform and raised its valuation range from $13-$14 to $16-$19.

The firm reports, "We believe that the acquisition of ELN's EDT business is a savvy deal for ALKS. Also, in its base business, there are multiple positive trends that we believe should result in better stock performance for ALKS. We believe the company's diversified value proposition helps limit the downside risk and gives multiple shots at value creation."

For more ratings news on Alkermes click here and for the rating history of Alkermes click here.

Shares of Alkermes closed at $15.19 yesterday.

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