Credit Suisse analyst Vamil Divan raised his price target for Alkermes (ALKS) to $85 saying investors are still underappreciating the company's pipeline. The stock closed yesterday up $5.91 to $78.65. ALKS 5461, being studied for the treatment of depression, could drive additional upside upon completion of three phase 3 studies in the first half of 2016, Divan tells investors in a research note. He calls Alkermes and Portola Pharmaceuticals (PTLA) his top small- to mid-cap picks for 2016 in U.S. Pharmaceuticals. Divan prefers names that offer a combination of "strong product stories, near-term pivotal catalysts, financial strength and experienced management teams." The analyst this morning also downgraded Versartis (VSAR) to Underperform.