Alkermes, Plc (ALKS) - Bull of the Day

By Zacks.com,  August 07, 2012, 01:00:01 AM EDT

Alkermes Plc ( ALKS ) reported earnings of $0.28 per share (including depreciation and stock-based compensation expenses) in the first-quarter of fiscal 2013. The Zacks Consensus Estimate was $0.10 per share. Alkermes also beat the Zacks Consensus Estimate in terms of revenues.

Results were boosted by the inclusion of drugs belonging to the EDT unit of Elan. This was the third full quarter following the merger with EDT. Alkermes reiterated its guidance for fiscal 2013. We are also impressed by the FDA approval and launch of diabetes drug Bydureon, which offers significant commercial potential.

Overall, we are pleased by the pipeline progress at Alkermes. We retain our Outperform recommendation on the stock. Our price target of $22.00 is based on 5.6x our fiscal 2013 revenue estimate.
 
ALKERMES INC (ALKS): Free Stock Analysis Report
 
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: ALKS



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