Alkermes price target lowered to $43 from $48 at Cantor Fitzgerald

Cantor Fitzgerald lowered the firm’s price target on Alkermes (ALKS) to $43 from $48 and keeps an Overweight rating on the shares. Alkermes reported Q3 revenues below consensus estimates but in line with the firm’s expectations, the analyst tells investors in a research note. The firm continues to see Alkermes as an underappreciated Neuro-Innovator and an attractive buying opportunity for long-term investors, and is intrigued by the company’s broadening perspective on the potential use of OX2Rag pharmacology beyond NT and IH, with prospects for treating high burden fatigue and sleepiness symptoms of other neuropsychiatric indications.