With the bad news on failed Alzheimer’s candidate bapineuzumab out of the way, Elan Corporation, plc (NYSE:ELN) is positioning itself for a brighter future. The company is shedding non-strategic assets and expects to earn $1.00 per share by 2015, driven primarily by continued growth and margin expansion for its multiple sclerosis treatment, Tysabri. The latest is the proposed spin-off of Neotope, Elan’s neuroscience drug discovery arm, which bears significant R&D expenses. Analysts are applauding the decision, and some, including long-time bears, are upgrading the shares. Speculators are betting that partner Biogen Idec (NASDAQ:BIIB) could acquire ELN to bolster its profitability. The average price target by Wall Street analysts for ELN is $15 per share. Expect positive momentum in ELN to continue.