Alkermes price target raised to $48 from $42 at UBS

UBS analyst Ashwani Verma raised the firm’s price target on Alkermes (ALKS) to $48 from $42 and keeps a Buy rating on the shares. Alkermes is gaining increased investor attention following large-cap pharma interest in competing orexin programs, with broader validation of its pipeline and expanded indication strategy beyond hypersomnolence supporting improved long-term growth potential and strategic optionality, the analyst tells investors in a research note.