Oct. 22 at 7:09 PM
RBC Capital⬆️
$ALKS's PT to $ 47 from
$45, reiterated at Outperform, and said, Following the announcement of ALKS's intention to acquire
$AVDL, we had the chance to catch up with ALKS mgmt.
$JAZZ $CNTA $AXSM
RBC Capital added:
We think the acquisition checks multiple boxes — supporting a key future growth driver with a commercial base of operations, bringing in near-term revenues, and not stretching the balance sheet — and we think bringing in AVDL should strengthen both the near- and mid-term outlook for ALKS.
We continue to like the setup into VIBRANCE-2 where we see potential for high efficacy and good tolerability, and with the base business performing well, and a new growth driver added, we would be buyers at these levels; price target to
$47.X on model updates as we integrate AVDL.
