Jefferies Assumes Alkermes (ALKS) at Buy, $53 PT

Jefferies assumes coverage on Alkermes (NASDAQ: ALKS) with a Buy rating and a price target of $53.00 (from $58.00).

Analyst Biren Amin said, "The current revenue base of royalties from partnered compounds and Vivitrol sales supports ALKS R&D efforts with aripiprazole lauroxil launch expected in late '15. Also, while many analysts expect generic Risperdal Consta in the near-term, given JNJ/ALKS' Citizen Petition calling for a higher bar for bioequivalence, we believe Consta will not face generic competition until '20."

For an analyst ratings summary and ratings history on Alkermes click here. For more ratings news on Alkermes click here.

Shares of Alkermes closed at $44.02 yesterday.

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