Analyst sees bright future for Alkermes

A Caris & Co. analyst upgraded Alkermes Inc.’s stock to “buy,’’ pointing to the Waltham company’s pending acquisition of a drug technology business. Analyst Mario Corso says the share price does not reflect the company’s value. He said the purchase of Elan Corp.’s drug delivery business, due to close by Sept. 30, will make Alkermes profitable. In the next few years, Corso said, revenue from newer products like the multiple sclerosis treatment Ampyra and antipsychotic drug Invega Sustenna and from the diabetes drug candidate Bydureon will cancel out a drop in sales of older products like Risperdal Consta.