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Search resuls for: "Alkermes"


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Deutsche Bank reiterates Charles Schwab as buy Deutsche Bank raised its price target on the stock to $77 per share from $75. UBS reiterates Boeing as buy UBS said the risks are already priced in for Boeing shares. Loop reiterates Best Buy as buy Loop said the electronics giant is a "stealth housing play." UBS reiterates Micron as buy UBS said it is standing by its buy rating on the stock heading into earnings on Wednesday. UBS upgrades Cognex to buy from neutral UBS said the systems software company is "high quality growth at a discount."
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NEW YORK, June 29 (Reuters) - Alkermes (ALKS.O) beat back activist investor Sarissa Capital Management's boardroom challenge on Thursday when shareholders re-elected all of the biotechnology company's directors in one of the year's most closely watched votes. But investors stuck by the company, which is valued at $5.4 billion, and returned all directors to their seats on the 11-member board. Glass Lewis, ISS's smaller rival, recommended shareholders back all Alkermes directors. Biogen shareholders this week elected Denner's romantic partner, Susan Langer, to fill his seat on the Biogen board after the board had nominated her. Both ISS and Glass Lewis referenced the Biogen matter in their recommendations on how to vote at Alkermes.
Persons: Alkermes, Nancy Wysenski, Sarah Schlesinger, Glass Lewis, Alex Denner, Susan Langer, Schlesinger, Sarissa, Svea Herbst, Bayliss, Chris Reese Organizations: YORK, Capital, Services, ISS, Svea, Thomson Locations: Alkermes, Biogen
NEW YORK, June 29 (Reuters) - Shareholders in Alkermes have re-elected all of the biotechnology company's directors, according to two sources familiar with the matter on Thursday, dealing a blow to hedge fund Sarissa Capital Management which pushed to put three candidates on the board. Sarissa, which owns 8.5% of Alkermes, has long criticized the company's stock price and how the biotechnology company is run, and nominated three candidates, including its co-founder, Alex Denner, as director candidates to the 11-member board. But investors in the biotechnology company, which is valued at $5.3 billion, stuck by all incumbents in one of the year's most closely watched proxy contests. Representatives for the company and Sarissa could not be reached for comment. Alkermes had previously refreshed the board with new directors several times in recent years and has had success in developing and bringing new drugs to market.
Persons: Alex Denner, candiates, Sarah Schlesinger, Alkermes, Svea Herbst, Bayliss Organizations: YORK, Alkermes, Capital Management, Services, Svea, Thomson
The hedge fund's founder, Alex Denner, 53, one of three Sarissa candidates running for seats on Alkermes' 11-member board, on Monday said he would give up his board seat at biotech company Biogen (BIIB.O). The move eliminates "any claim of conflict whatsoever," Sarissa wrote to Alkermes shareholders on Tuesday. Alkermes shareholders will vote on directors on June 29 in what is one of the year's five biggest boardroom challenges. A Biogen representative confirmed that the board knew about the relationship between Denner and Langer. Denner, who has served on the Biogen board since 2009 and headed the nominating and governance committee, had nominated Langer.
Persons: Alex Denner, Sarissa, Biogen, Susan Langer, Alkermes, Denner, Langer, Bob Langer, Biogen's, Stelios Papadopoulos, Caroline Dorsa, Richard Mulligan, William Jones, Svea Herbst, Bayliss, Bill Berkrot, Mark Porter, Leslie Adler Organizations: YORK, Management, Moderna, Svea, Thomson Locations: Alkermes, Biogen
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