Jefferies reiterates Buy rating on Alkermes ahead of World Sleep meeting

Jefferies says Alkermes remains the analyst’s top SMID cap pick heading into World Sleep. While “we won’t get answers to all” our questions at the medical meeting, the firm thinks ALKS-2680 could show TAK-925/994 like exposures at less than10 mg and doesn’t expect ‘2680 to show liver toxicity, the analyst tells investors ahead of the event. Jefferies reiterates a Buy rating and $48 price target on Alkermes shares.