UBS Maintains a 'Neutral' on Alkermes (ALKS); Bydureon Passes the tQTc Test

UBS maintains a 'Neutral' on Alkermes (NASDAQ: ALKS), PT increased from $19 to $20.50.

UBS analyst says, "What’s new? Bydureon demonstrated no prolongation of tQTc interval - The study evaluated Exenatide at and above therapeutic levels in healthy individuals. All QT correction methods (QTcP, QTcF and QTcI) demonstrated that Bydureon did not increase the 95% confidence interval of the upper bound of the placebo corrected QTc above 10 milliseconds (the FDA hurdle). Amylin/Lilly plan to submit the data to FDA in 3Q11...Our takeaways: Closer to approval; still cautious on peak sales potential."

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

Shares of Alkermes closed at $19.23 yesterday.

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