UBS Raises Alkermes Price Target to $47, Citing Avadel Deal and Clinical Catalysts
UBS bumped its target on Alkermes to $47 from $46 and kept a Buy rating after updating a pro-forma model that incorporates Alkermes' pending acquisition of Avadel Pharmaceuticals. The bank highlights potential EBITDA upside and strategic benefits to Alkermes' Sleep franchise, along with upcoming clinical readouts and a recent FDA Breakthrough Thera…