Alkermes at hold by Jefferies

Alkermes Inc. was reiterated at hold and given a $22.50 price target by Jefferies & Co., Inc. analyst David Windley. Jefferies believes the approval of Vivitrol for a subset of patients that responded to treatment in the pivotal trial may slow uptake and lower peak sales, taking it longer to become profitable. Shares of the Cambridge, Mass., pharmaceutical company were down 42 cents, or 1.91%, at $21.54 on volume of 7,763,059 shares versus the three-month running average of 1,577,910 shares. (Nasdaq: ALKS)

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