2024-04-09 09:49:40 ET
Summary
- Alkermes' spinoff transaction with Mural Oncology resulted in cost cutting and higher EBITDA margins, with strong 2023 profitability gains expected to continue into 2024.
- The stock is currently undervalued compared to peers, but capital allocation initiatives such as dividends and buybacks could help close the valuation gap.
- Risks include potential delays or lower-than-expected shareholder remuneration and competition from generics, but overall, the target price for Alkermes is $34 with a 30% upside potential.
...
Read the full article on Seeking Alpha
For further details see:
Alkermes Plc: Collecting The Fruits Of The 2023 Spinoff