Alkermes at hold by Jefferies

Alkermes Inc. was reiterated at a hold rating with an increased price target of $22.50 by Jefferies & Co., Inc. analyst David Windley. Clarity from the FDA on Vivitrol as it heads toward final approval should help reinforce positive sentiment. Alkermes reported pro forma earnings per share of 2 cents, compared with Jefferies' estimate of 6 cents. Shares of the Cambridge, Mass., pharmaceutical company were up 77 cents, or 3.41%, at $23.27 on volume of 1,693,340 shares versus the three-month running average of 1,919,400 shares. (Nasdaq: ALKS)

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