I believe the press release said Elan would be done selling its shares by the end of today. If true, I expect Alks will start to claw its way back. Considering all the pressure selling something like 7 million shares in a few days would do to a stock's price, it appears that Alks has held up well. With solid earnings projections, Alks looks very attractive. IMHO.
I think we will see a large drop in trading today. That is unless buyers rush in thinking the worst is over concerning the Elan sale. I loaded up the last couple of days, but it still looks like a steal at the current price based on earnings projections and pipeline. IMHO.