Alkermes on hold by Jefferies

Alkermes, Inc. was rated at hold by Jefferies & Co., Inc. analyst David Windley after upbeat Vivitrol commentary from management at Alkermes and Cephalon failed to prevent a sell-off in the stock. According to the analyst, Vivitrol is unlikely to become profitable until mid-calendar year 2009 at the earliest, 18 months behind initial expectation. The analyst's revised price target of $14.50 reflects the "significantly lower" sales forecast for Vivitrol. Shares of the Cambridge, Mass.-based biotechnology company were up 44 cents, or 2.89%, at $15.69. (Nasdaq: ALKS)

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