Alkermes (ALKS) NewsBite - ALKS Upgraded By Leerink Swann

Posted: Tuesday, November 17, 2009 2:11 PM EDT

Alkermes (ALKS) was upgraded today by analysts at Leerink Swann and the stock is now at $9.03, up $0.85 (10.39%) on volume of 1,231,642 shares traded. The analysts upped ALKS to Outperform from Market Perform. Over the last 52 weeks the stock has ranged from a low of $5.55 to a high of $13.16. Alkermes stock has been showing support around $7.87 and resistance in the $8.49 range. Technical indicators for the stock are neutral and S&P gives ALKS a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on ALKS the stock seems like it could be a candidate for a February out-of-the-money bull-put credit spread below the 7.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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