UBS initiates coverage on Alkermes (Nasdaq: ALKS) with a Buy rating. PT $18.
UBS analyst says, "We recommend buying ALKS ahead of two potential product approvals expected before year end, which we believe should pull the company out of the red and significantly increase its earnings potential."
Other points include: 1) Investment thesis: Expect sizable earnings growth from 2 new launches; and 2) Key risk to our investment thesis is slower-than-expected ramp of Vivitrol.
if this stock breaks the $15.10 high...i think this stock could be going straight to $17...looks like zero to no resistance. after money managers read UBS report tonight, there's definitely a possibility we could see some large buy orders from some major institutions as early as tomorrow.