RBC Capital raised the firm’s price target on Alkermes (ALKS) to $47 from $45 and keeps an Outperform rating on the shares. The Avadel Pharmaceuticals (AVDL) acquisition checks “multiple boxes” – supporting a future growth driver with a commercial base of operations, bringing in near-term revenues, and not stretching the balance sheet – and should strengthen both the near- and mid-term outlook, the analyst tells investors.
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