UPDATE: Goldman Sachs Reiterates Neutral Rating, Lowers PT for Alkermes
In a company update published earlier today, the Goldman Sachs Group, Inc. reiterated its Neutral rating for Alkermes, plc (NASDAQ: ALKS) and slightly lowered its price target from $18.00 to $17.00.
Goldman Sachs went on to say “ALKS saw $46 mn in revenues from JNJ's Consta and Sustenna, slightly ahead of our $44 mn. Vivitrol sales of $11 mn (+4% q/q) were in line with our estimate, but slightly below consensus of $12 mn. Vivitrol FY2013 guidance of $45-$55 mn was below our estimate of $69 mn, and we are reducing our estimates, which drives a decrease in our price target. We are also adjusting our top- and bottom-line estimates to reflect quarterly trends.”
Alkermes, plc closed yesterday at $16.71
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.