Alkermes upgraded to Buy from Neutral at Citi. Citi analyst Liav Abraham upgraded Alkermes to Buy with an unchanged price target of $62. The stock closed yesterday down 80c to $46.24. Following a “deep dive” and physician survey, the analyst has increased conviction around the ALKS 3831 value proposition. ALKS 3831 is a once-daily, oral atypical antipsychotic drug candidate for the treatment of schizophrenia. Abraham views Alkermes’ valuation as compelling and is positive on the company’s “pipeline optionality and near-term catalyst flow.”
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