Alkermes price target raised to $34 from $33 at BofA

BofA analyst Jason Gerberry raised the firm’s price target on Alkermes (ALKS) to $34 from $33 and keeps a Neutral rating on the shares following what the firm calls “a good beat/raise 3Q.” While Q3 results were “solid,” the firm continues to see the upcoming Vibrance-2 readout in narcolepsy type-2 in November as “a stock driver,” says the analyst, who raised the firm’s FY25 and onward topline estimates by 1%-2% given strength in the base business.