Leerink analyst Paul Matteis downgraded Alkermes to Market Perform and lowered his price target for the shares to $61 from $68. The drugmaker closed yesterday down $2.19 to $59.47. Investor sentiment and expectations have "improved across the board" over the past 12 months, skewing the risk/reward around 2017 major events to the downside, Matteis tells investors in a research note. He believes consensus forecasts may "be a bit too high" for Aristada and notes that long-term Vivitrol numbers have now caught up with his model's bullish outlook. The first schizophrenia readout midyear, while likely positive on efficacy, may "offer lukewarm support" for the drug's commercial potential, Matteis adds.