Citi analyst Liav Abraham downgraded Alkermes to Neutral from Buy and cut her price target for the shares to $33 from $62. The analyst says that while the positive Phase 3 data for ALKS 3831 in Q4 support a constructive view on the compound, there are not "sufficient meaningful catalysts to drive material upside" in the stock for the remainder of 2019. FDA submission of ALKS 3831 in mid-2019 and potential approval of ALKS 8700 in Q4 are well expected at this point, Abraham tells investors in a research note. Further, she believes growth of Alkermes' key branded products, Vivitrol and Aristada, is expected to remain "moderate at best" over the near to medium term. As such, the analyst struggles to find reasons to be buyers of the stock at the moment.