Why Shares of Alkermes Rose 18% Last Month

Shares of Alkermes (NASDAQ: ALKS) climbed 17.8% in April, according to S&P Global Market Intelligence. Alkermes announced a partnership to fight ovarian cancer, reported earnings that beat Wall Street estimates, and reached an agreement with an activist hedge fund that had been agitating for changes. Early in the month, the company announced it would advance the combination of nemvaleukin -- its drug that expands tumor-killing immune cells -- with Merck's Keytruda, to phase 3 trials.