Alkermes price target lowered to $30 from $32 at Goldman Sachs

Goldman Sachs lowered the firm’s price target on Alkermes (ALKS) to $30 from $32 and keeps a Buy rating on the shares. The company’s Q3 results included operating results for the quarter from the current commercial portfolio that included some puts and takes, but that were inline overall, the analyst tells investors in a research note. The firm says Alkermes is” making clear through plans” to heighten and focus its level of investment on ALKS-2680 and pursuit of potentially expansive opportunities with its orexin-2 recept agonist pipeline. While nearer term, the net impact tempers the magnitude of profitability, Goldman remains bullish on the value creation potential of ALKS-2680, the analyst notes.