Merrill puts Alkermes at buy

Alkermes Inc. was rated at a buy by Merrill Lynch analyst Hari Sambasivam as end-user sales of Risperdal Consta ($205 million) came in ahead of estimates of $186 million. Revenues in the quarter show sequential growth of 10.8%. Merrill projects Risperdal Consta end-user sales growth for the period 2007 to 2009 to grow from $750 million to $1.0 billion. Shares of the Cambridge, Mass.-based biotechnology company were up 61 cents, or 3.80%, at $16.65 on volume of 1,082,893 shares versus the three-month running average of 1,290,620 shares. (Nasdaq: ALKS)

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