Morgan Stanley Sees EPS Below Consensus, Robust Pipeline For Alkermes plc - Alkermes (NASDAQ:ALKS)

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In a report published Thursday, Morgan Stanley analyst David Risinger reiterated an Equal-Weight rating on Alkermes plc (NASDAQ: ALKS).In the report, Morgan Stanley noted, “We reduced 2014E EPS from $0.52 to $0.30, near the upper end of management guidance of $0.19–0.32.The main driver was increase in 2014E R&D expenses from $239M to $275M (guidance $260–280M). Boosting out-year R&D spending yielded EPS far below consensus.We cutEPS as follows: '15E from $0.42 to $0.08 in '15E (vs.cons' $0.59), '16E from $0.80 to $0.35 (vs.cons' $1.24), '17E from $1.30 to $0.94 (vs.cons' $1.95),and '18E from $1.76 to $1.41 (vs.cons' $2.79).”Alkermes plc closed on Wednesday at $42.31.

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