Piper Sandler analyst David Amsellem upgraded Alkermes to Overweight from Neutral with a price target of $30, up from $26, after management announced that it is planning to separate its oncology segment in part as a means of maximizing the profitability of what will eventually be a pure-play neuropsychiatry company. The analyst says his new price target reflects the “leaner” cost structure that would support the neuropsychiatry business. Per his analyses, Alkermes shares could be worth $30 as a “leaner, pureplay neuropsychiatry company.”