Mizuho lowered the firm’s price target on Alkermes to $37 from $40 and keeps a Buy rating on the shares. The analyst expects a Q3 beat from Alkermes, driven by Invega royalties and solid Vivitrol and Lybalvi sales. However, the firm dropped the price target after incorporating the Vivitrol litigation patent settlement and European Union generic Xeplion competition into the model. ALKS-2680 could provide upside to the model, which currently reflects no value “for this blockbuster potential,” the analyst tells investors in a research note.
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