Alkermes (ALKS) rose 15% after Eli Lilly (LLY) agreed to acquire Centessa Pharmaceuticals (CNTA), reflecting renewed M&A momentum in biotech, Leerink tells investors in a research note. While the boost highlights Alkermes’ strong orexin franchise, the stock could also attract interest from other large pharma companies seeking a presence in this therapeutic area, the firm says. Leerink has a Market Perform rating on Alkermes shares.
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