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Alkermes Shares Surge 15% Following Lilly-Centessa Deal
Alkermes shares surged 15% following Eli Lilly’s acquisition of Centessa, driven by market optimism for its sleep disorder prospects and its developing orexin 2 receptor drug. Clinical trial progress for Alkermes’ alixorexton showed significant improvements in wakefulness, attracting large pharma interest. RBC Capital assigned an ‘Outperform’ rating with a $45 price target, while retail investor sentiment shifted from ‘neutral’ to ‘bullish’ on Stocktwits.