Merrill puts Alkermes at buy

Alkermes Inc. was rated at a buy by Merrill Lynch analyst Hari Sambasivam. Regarding investor questions centered on Vivitrol and the pending PDUFA date, Merrill believes the most likely outcome is an approval, allowing a launch during the second quarter of this year. The analyst sees the company as well positioned to emerge as a profitable biotech company, with a strong balance sheet and a robust pipeline. Shares of the Cambridge, Mass., pharmaceutical company were down 7 cents, or 0.32%, at $21.84 on volume of 1,172,464 shares versus the three-month running average of 2,012,900 shares. (Nasdaq: ALKS)

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