MKM Partners Downgrades Alkermes (ALKS) to Neutral

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Earlier, MKM Partners downgraded Alkermes (NASDAQ: ALKS) from Buy to Neutral with a price target of $23.00 on valuation.

"While Consta and Sustenna remain strong, Alkermes shares have experienced a significant rally in recent weeks (up 20% since December 31) and are now trading just 2% below our $23 fair value estimate," the analyst notes.

For an analyst ratings summary and ratings history on Alkermes click here. For more ratings news on Alkermes click here.

Shares of Alkermes closed at $22.50 yesterday, with a 52 week range of $14.82-$22.65.

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