Alkermes Upgraded To Buy From Neutral At Mizuho

Mizuho analyst Vamil Divan upgraded Alkermes (ALKS) to Buy from Neutral with a price target of $24, up from $19.

The analyst sees an attractive risk/reward profile following last week's FDA Advisory Committee Meeting for ALKS 3831 and ahead of additional data from ALKS 4230 at next month's Society for Immunotherapy of Cancer annual meeting.

While the stock has struggled in recent years, the commercial challenges for Vivitrol and Aristada are now well understood by the Street, Divan tells investors in a research note.

Further, expectations for ALKS 3831 are limited while the potential for ALKS 4230 in multiple tumor types remains underappreciated, adds the analyst.