Merrill keeps Alkermes at buy

Alkermes Inc. was kept at a buying rating by Merrill Lynch analyst Hari Sambasivam on news that Johnson & Johnson reported Risperdal Consta sales for the first quarter of $185 million compared to Merrill's estimate of $205 million. This represents a shortfall of $2.1 million in manufacturing and royalty revenues to Alkermes, or a negative impact of $0.015 per share for the quarter. Merrill believes its 2007 estimate of $750 million is achievable. The analyst looks for details of pre-launch activities for Vivitrol including potential pricing during the upcoming conference call. Shares of the Cambridge, Mass., pharmaceutical company were up 9 cents, or 0.42%, at $21.63 on volume of 2,184,518 shares versus the three-month running average of 1,669,530 shares. (Nasdaq: ALKS)

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