Goldman Raises Price Target on Alkermes (ALKS) Following Close of Elan Drug Merger
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Price: $48.33 +0.65%
Rating Summary:
17 Buy, 8 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
17 Buy, 8 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Goldman Sachs is reaffirming its Neutral rating on shares of Alkermes (NASDAQ: ALKS) and is raising its price target from $12 to $17 following the close on the merger with Elan Drug Tech.
The firm believes that the company is making a strategic move with its merger. The merger will allow the company to have a more divers revenue stream with over 20 drugs. The company will also now be receiving royalties from both Risperdal Consta and Invega Sustenna, limiting the company's competition.
Now that the company is profitable, Goldman believes that investors will mainly focus of non-GAAP EPS figures. The firm is introducing its non-GAAP EPS estimates for 2012-2016 at $0.20, $1.00, $1.26, $1.42, and $1.63. Goldman is also tweaking its 2012-2016 GAAP estimates from ($0.40), ($0.15), $0.15, $0.36, and $0.56 to ($0.62), ($0.26), ($0.02), $0.23, and $0.46.
For more ratings news on Alkermes click here and for the rating history of Alkermes click here.
Shares of Alkermes closed at $15.01 yesterday.
The firm believes that the company is making a strategic move with its merger. The merger will allow the company to have a more divers revenue stream with over 20 drugs. The company will also now be receiving royalties from both Risperdal Consta and Invega Sustenna, limiting the company's competition.
Now that the company is profitable, Goldman believes that investors will mainly focus of non-GAAP EPS figures. The firm is introducing its non-GAAP EPS estimates for 2012-2016 at $0.20, $1.00, $1.26, $1.42, and $1.63. Goldman is also tweaking its 2012-2016 GAAP estimates from ($0.40), ($0.15), $0.15, $0.36, and $0.56 to ($0.62), ($0.26), ($0.02), $0.23, and $0.46.
For more ratings news on Alkermes click here and for the rating history of Alkermes click here.
Shares of Alkermes closed at $15.01 yesterday.
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