CHICAGO, July 13, 2011 /PRNewswire/ -- Zacks.com announces
the list of stocks featured in the Analyst Blog. Every day the
Zacks Equity Research analysts discuss the latest news and events
impacting stocks and the financial markets. Stocks recently
featured in the blog include: Alkermes Inc. (Nasdaq: ALKS),
Amylin Pharmaceuticals (Nasdaq: AMLN), Eli Lilly and
Company (NYSE: LLY), Liberty Property Trust (NYSE: LRY)
and Duke Realty Corp. (NYSE: DRE).
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Here are highlights from Tuesday's Analyst Blog:
Alkermes Candidate Disappoints
Recently, Alkermes Inc. (Nasdaq: ALKS) presented
disappointing top line data from a mid-stage study (n=68) of its
pipeline candidate ALKS 33 for treating patients suffering from
binge eating disorder.
The randomized, double-blind, placebo-controlled study evaluated
the safety and efficacy of ALKS 33, administered orally on a daily
basis, versus placebo.
Results from the 12-week study revealed ALKS 33 was not more
effective than placebo in reducing weekly episodes of binge eating.
The disappointing results prompted Alkermes to decide against
developing ALKS 33 further for the indication. Binge eating
disorder is a very common eating disorder in the US and often leads
to obesity in the affected individuals.
Even though Alkermes has not reached success with ALKS 33 for
the indication, it continues to evaluate ALKS 33 for other
indications. The candidate is being evaluated for alcohol
dependence. Moreover, Alkermes is studying ALKS 33 in combination
with buprenorphine (as ALKS 5461) for treating patients suffering
from cocaine addiction and treatment-resistant depression.
Apart from ALKS 33, Alkermes has other candidates in its
pipeline such as ALKS 37 for opioid-induced constipation, ALKS 6931
for treating rheumatoid arthritis, ALKS 36 for the treatment of
pain without the side-effects of constipation, ALKS 9070 and ALKS
7921 for treating schizophrenia.
However, we believe that investor focus will remain on the fate
of diabetes drug, Bydureon, in the US rather than on development of
the other pipeline candidates at Alkermes. It has co-developed
Bydureon, which was approved in the European Union in June 2011, with Amylin Pharmaceuticals
(Nasdaq: AMLN) and Eli Lilly and Company (NYSE: LLY).
Our Recommendation
Currently we have a 'Neutral' long-term recommendation for
Alkermes. The company carries a Zacks #3 Rank (Hold) in the short
run.
Liberty Property Adds to its Portfolio
Liberty Property Trust (NYSE: LRY), a real estate
investment trust, recently acquired two distribution centers from
Mirvac for approximately $60.0
million. The two distribution centers are located at
Centerpoint Intermodal Center in Elwood,
Illinois. The acquisition will enhance the company's
portfolio of industrial properties to 6.3 million square feet.
The centers are currently 36% leased totaling 1.2 million square
feet. The acquired properties include a 1,022,554 square-feet
facility spanning 48 acres and a 213,500 square-feet facility
spanning 27 acres.
The acquisition marks the entry of Liberty Property in the
inland port area of Illinois. This
is one of the best locations for shipping and provides
cost-effective connectivity with the Midwest. The two buildings are
situated close to the BNSF Logistics Park-Chicago complex, which is
the focal point of the entire Intermodal facility.
The acquisition is strategically important for the company as it
is in close proximity to the company's 3.5 million square feet
warehouse and distribution park - Liberty Business Center in
Minooka.
Liberty Property specifically focuses on metro-office,
multi-tenant industrial and flex properties and markets possessing
strong demographic and economic fundamentals, which ensure a steady
revenue stream for the company.
Based in Pennsylvania, Liberty
Property provides leasing, property management, development,
construction management, design management, and related services
for a portfolio of industrial and office properties.The company has
a strong portfolio of multi-tenant industrial and office properties
in prime business locations in the U.S. and U.K., and operates
across multiple markets that enable mitigation of geographical
risk.
Liberty Property currently retains a Zacks #4 Rank, which
translates into a short-term Sell rating. We are also maintaining
our long-term Underperform recommendation on the stock. One of its
competitors, Duke Realty Corp. (NYSE: DRE) currently retains
a Zacks #3 Rank, which translates into a short-term Hold
rating.
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