Alkermes outlook reflects underlying strength, says H.C. Wainwright

H.C. Wainwright keeps a Neutral rating on Alkermes (ALKS) with a $46 price target following the Q4 report. The company’s Q4 was bolstered by tailwinds, but the outlook is reassuring and reflects underlying strength, the analyst tells investors in a research note. The firm says expanding the next-generation orexins to additional indications is gaining momentum at Alkermes. H.C. Wainwright assigns a 50% probability of success for ALKS 2680 as a Phase 2 asset.

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