BofA/Merrill Lynch analyst Steve Byrne reiterated an Underperform rating and lowered his price target on Alkermes (NASDAQ: ALKS) to $45.00 (from $47.00) following Q4 results.

Byrne notes revenue guidance was in-line but expenses are rising. The expenses will likely push 2015 net to a loss he said.

FY 2015 EPS was cut from $0.06 to ($0.28), FY 2016 EPS from $1.46 to $1.03 and FY 2017 EPS was set a $3.89.

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 $70.64 yesterday.