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Alkermes recommended ahead of Phase 3 data at JPMorgan

JPMorgan recommends owning shares of Alkermes ahead of the company's Phase 3 data for aripiprazole lauroxil for Schizophrenia expected in the first half of first of 2014. The firm says that while a positive outcome is expected by investors, it believes the company's market opportunity for a new long-acting injectable in schizophrenia is underappreciated. JPMorgan reiterates an Overweight rating on Alkermes with a $60 price target.