Cantor Fitzgerald analyst William Tanner initiated Alkermes with a Neutral rating and $52 price target. The analyst wants clarity on the development path for ALKS- 5461 before recommending the shares. The stock move from the low $40s to almost $60 on the positive FORWARD-5 trial has priced in a high probability that the drug is approvable for treating major depressive disorder without additional clinical studies, Tanner told investors last night in a research note. He believes the inability to file with the existing data would create "significant downward" pressure on Alkermes shares.