Alkermes price target raised to $35 from $34 at H.C. Wainwright

H.C. Wainwright analyst Douglas Tsao raised the firm’s price target on Alkermes to $35 from $34 and keeps a Buy rating on the shares following the “solid” Q4 report. The company showed off the “clear financial benefits” of spinning off the oncology business with its financial outlook for 2024 and beyond with an outlook for much improved profitability, the analyst tells investors in a research note. The firm believes Lybalvi will maintain its strong growing trend in this year.