Shares of Alkermes (ALKS) ALKS) are moving higher after Eli Lilly (LLY) reached an agreement to acquire Centessa (CNTA) for up to $7.8B. Alkermes, like Centessa, is developing an orexin 2 receptor for narcolepsy. Alkermes in midday trading is up 18%, or $5.53, to $35.68.
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Read More on ALKS:
- Alkermes rises 17.7%
- Alkermes price target lowered to $43 from $45 at Piper Sandler
- Alkermes Advances ALKS 2680 Into Phase 3 for Narcolepsy Type 1: What Investors Should Watch
- Alkermes’ ALKS 2680 Narcolepsy Study Completion: What Investors Should Watch Next
- Alkermes price target lowered to $43 from $46 at H.C. Wainwright