Market Overview

UPDATE: Morgan Stanley Upgrades Alkermes plc to Overweight on New Pipeline Opportunities

Related ALKS
Biotech Stock Roundup: MannKind PDUFA Date Pushed Out, Alkermes Impresses with Data - Analyst Blog
Gilead Sciences (GILD) Falls: Stock Goes Down 7.3% - Tale of the Tape

Morgan Stanley upgraded Alkermes plc (NASDAQ: ALKS) from Equal-weight to Overweight and raised the price target from $21.00 to $26.00.

Morgan Stanley noted, "We anticipate improving investor perception as Alkermes transitions from being an outsourced drug delivery tech co. to an innovation engine with higher-value internal candidates. … We added a key new pipeline drug (3831 for schizophrenia) due to new disclosure Jan. 4, and we have greater conviction that Alkermes can develop new drugs to offset patent expirations in 2019 and beyond."

Alkermes plc closed at $21.61 on Wednesday.

Posted-In: Morgan StanleyAnalyst Color Upgrades Pre-Market Outlook Analyst Ratings

 

Most Popular

Related Articles (ALKS)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free