Biotech is a strange world, one where investors often seem to prefer stories that are relatively weak on sales, earnings, and actual data. Maybe that makes a certain amount of sense - in the absence of data, investors are free to dream about blockbuster drugs and multi-baggers.
In the case of Alkermes (ALKS), it would seem that having an actual cash flow-generating business is almost a detriment to the stock. Given that I believe Alkermes combines a strong (and fairly stable) royalty-generating business with a high-risk/high-reward, but undervalued, pipeline, I believe this is a stock worth considering even at these relatively elevated prices for biotech stocks.
A Stable Of Strong Horses
While Alkermes does boast over 20 commercial...
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