Alkermes uncertain to hit endpoints: Cantor

Cantor wonders if Alkermes will miss primary endpoints for ENLIGHTEN-2. Following the company’s webinar to discuss ALKS 3831, Cantor Fitzgerald analyst William Tanner raised his price target for Alkermes to $46 from $45 and reiterates a Neutral rating on the shares. The analyst wonders whether there should be an expectation that the primary endpoints might be missed in the ENLIGHTEN-2 study, expected to readout in Q4. He was struck by the presenter’s comment, “To us, it’s less about the absolute weight gain as we’ve said before.” And another comment saying, “There’s more to ALKS 3831 than just weight.” Tanner remains unconvinced that Alkermes will be able to develop proprietary therapeutics necessary to “support attractive out year top- and bottom-line growth rates.”

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