Jefferies Maintains a 'Buy' on Alkermes (ALKS); Bydureon Approved; Not Another "Third Time's The Charm" Title

Jefferies maintains a 'Buy' on Alkermes (NASDAQ: ALKS) price target of $21.00.

Jefferies analyst says, "FDA approval of Bydureon comes as a big sigh of relief for ALKS' investors, finally putting to bed Bydureon's seemingly never-ending US regulatory review. We expect the news to provide a nice 5-10% pop for the shares, but as a reminder, post-EDT, Bydureon is no longer critical to the ALKS story. But with this important catalyst now behind the company, we think it's time the market pay closer attention to ALKS' improved financial story."

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 $19.10 yesterday.

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