Alkermes price target raised to $79 from $75 at Leerink Leerink raised its price target for Alkermes shares to $79 to reflect probability-of-success weighted ALKS 8700 in multiple sclerosis revenue. The firm views the company's Q4 results as strong, but notes its 2015 outlook missed consensus due to higher than expected operating expenses. Leerink says the 2015 guidance reflects Alkermes' maturing pipeline. It keeps an Outperform rating on the stock.
Alkermes pipeline eases loss of pain program, says Citigroup Citigroup says Alkermes' pipeline programs and the continued growth of its base business help moderate the disappointment of the discontinuation of novel pain program ALKS-7106. Citi lowered its price target for Alkermes shares to $83 from $85 and keeps a Buy rating on the stock.