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Fly News Breaks for January 21, 2016
ALKS
Jan 21, 2016 | 12:19 EDT
Morgan Stanley analyst David Risinger double downgraded Alkermes to Underweight from Overweight citing the failure of ALKS 5461 for treatment-resistant depression. The analyst assumed success for the drug and noted failure was his bear case scenario. He cut his price target for the shares to $35 from $82. Risinger sees limited downside to the stock from current levels, but attributes his Underweight rating to a lack of catalysts over the next year.
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