Stifel analyst Paul Matteis lowered his price target for Alkermes to $20 from $23 and reiterates a Hold rating on the shares following the company's Q4 results. Alkermes looks well positioned to advance a pipeline that is early but expanding, Matteis tells investors in a post-earnings research note. While the analyst remains concerned about visibility into the growth potential for Vivitrol, he believes Alkermes' 2020 goals for Aristada "appear well within reach." This sets the company up fairly well into a late 2020 or early 2021 launch for ALKS 3831, contends Matteis. Nonetheless, the analyst remains cautious on near-term share upside from current levels. Alkermes is still early on the path toward leveraging its $1B-plus in sales into a "clear growth-oriented future," says Matteis.