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Morgan Stanleydowngraded shares of Alkermes Plc (NASDAQ:ALKS) from an equal weight rating to an underweight rating in a research note released on Thursday morning, TheFlyOnTheWall.com reports. They currently have $61.00 target price on the stock.
“Downgrade from E-W to UW relative to our coverage universe on expectations for weak lauroxil launch plus risk of Ampyra going generic sooner than expected.Setting a PT of $61 (12x our ’16E rev), a 20% premium to the comp median of 10x.,” the firm’s analyst wrote.
“Downgrade from E-W to UW relative to our coverage universe on expectations for weak lauroxil launch plus risk of Ampyra going generic sooner than expected.Setting a PT of $61 (12x our ’16E rev), a 20% premium to the comp median of 10x.,” the firm’s analyst wrote.