Alkermes kept at hold by Jefferies

Jefferies & Co., Inc. analyst David Windley maintained Alkermes, Inc. at hold with a lowered price target of $19. According to the analyst, limited updates are expected from Alkermes and Cephalon on Vivitrol's progress until the September quarter. Excluding 8 cents in option expense, Alkermes reported earnings per share of 7 cents, compared to Jefferies' estimate of a 1 cent loss. Alkermes management reconfirmed 2007 revenue guidance of $200 million to $222 million. Shares of the Cambridge, Mass.-based biotechnology company were up 36 cents, or 2.22%, at $16.57, on volume of 1,237,183 shares versus the three-month running average of 1,113,960 shares. (Nasdaq: ALKS)

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