News Buzz: Alkermes plc (Nasdaq: ALKS), Biogen Inc. (Nasdaq: BIIB)

Shares of Alkermes plc (Nasdaq: ALKS) were transacted with a volume of 421644 shares in last trading period as compared to its average volume of 921.18K shares over last three months period. The stock price scored 2.29% and valued at $34.19. Its 52 week price range is $ 27.54 – 62.42.

The price moved ahead 4.51% from the mean of 20 days, 6.85% from 50 and separated -14.45% from 200 days average price. Its price volatility for a month and for a week remained 4.49% 3.89% respectively. It noted beta of 1.82. Company’s price to sales ratio for last 12 months was 4.75 while its price to book ratio for the most recent quarter was 4.44 and its Market Cap valued at $5.20B.

Alkermes plc (Nasdaq: ALKS) and Biogen Inc. (Nasdaq: BIIB) reported that the U.S. Food and Drug Administration (FDA) has accepted for review the New Drug Application (NDA) for diroximel fumarate (BIIB098), a novel oral fumarate in development for the treatment of relapsing forms of multiple sclerosis (MS). The NDA has been assigned a PDUFA (Prescription Drug User Fee Act) target action date in the fourth quarter of 2019. If approved, Biogen intends to market diroximel fumarate under the brand name VUMERITY™, which has been conditionally accepted by the FDA and will be confirmed upon approval.

“The NDA filing acceptance for diroximel fumarate further demonstrates the productive collaboration between Alkermes and Biogen and brings us closer to our shared goal of offering a new therapeutic option for people with MS,” said Craig Hopkinson, M.D., chief medical officer and senior vice president, medicines development and medical affairs at Alkermes. “We believe diroximel fumarate has the potential to be a meaningful new offering for patients with MS, and we look forward to continued engagement with the FDA throughout the review process.”

“For more than two decades Biogen has been at the forefront of delivering new medicines to MS patients,” said Michael Ehlers, M.D., Ph.D., executive vice president, research and development at Biogen. “We are encouraged by the FDA’s acceptance of the NDA for diroximel fumarate, which we believe could help elevate the treatment of this complex and often debilitating disease.”

Biogen Inc. (Nasdaq: BIIB) augmented 0.76% to trade at $ 327.79 in the recent trading session and its total traded volume was 402834 shares versus to an average volume of 1.33M. The company has market cap of $65.00B. The stock has negative monthly performance of -3.53% while its yearly performance remained 13.71%.

The stock demonstrated a positive move of 0.19% in previous 5 days graph. Its quarterly performance remained in the green with the percentage of 1.92%, while its year to date performance showed that the stock jumped overall 8.11% The 52 week range of the stock was $249.17 – 388.67.

The Company has an insider ownership of 0.10% and institutional ownership remained 93.60%. Its return on investment (ROI) for the last 12 month was 23.60% and its return on equity (ROE) of 33.40% for the last 12 months while return on assets (ROA) is at 17.60%.

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