BofA analyst Jason Gerberry lowered the firm’s price target on Alkermes (ALKS) to $28 from $29 and keeps a Neutral rating on the shares. The company reported a relatively in-line Q3 and reiterated 2024 guidance, but the focus of earrings call was around management’s commentary indicating 2025 EBITDA will come in greater than $200M versus the consensus of $400M, the analyst tells investors in a research note. The firm says the EBITDA “disconnect” from Street numbers appear skewed to the loss of high margin royalty revenues and to a lesser extent spending.
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Read More on ALKS:
- Alkermes price target lowered to $43 from $48 at Cantor Fitzgerald
- Alkermes price target lowered to $30 from $32 at Goldman Sachs
- Alkermes price target lowered to $37 from $38 at Piper Sandler
- Alkermes backs FY24 financial expectations
- Alkermes reports Q3 adjusted EPS 72c, consensus 74c
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