Alkermes price target raised to $39 from $35 at Piper Sandler

Piper Sandler raised the firm’s price target on Alkermes to $39 from $35 and keeps an Overweight rating on the shares. Alkermes reported a markedly improved margin profile, and the firm likes that the board authorized up to $400M in share repurchases, while also making it clear that it continues to prioritize business development and M&A, the analyst tells investors in a research note.