Alkermes ( (ALKS) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Alkermes’ stock is on the rise following an upgrade from RBC Capital, which highlighted the promising potential of its drug alixorexton for treating narcolepsy type 2. The analysts pointed out the drug’s clinically meaningful benefits and tolerable safety profile, suggesting that the company’s position in the narcolepsy market is undervalued. They see this as a buying opportunity, believing that even modest success in this area is not yet fully reflected in the stock’s current valuation.
More about Alkermes
YTD Price Performance: -5.63%
Average Trading Volume: 1,943,703
Technical Sentiment Signal: Sell
Current Market Cap: $4.59B
For further insights into ALKS stock on TipRanks’ Stock Analysis page.
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