Alkermes sinks after reporting Aristada sales miss

Alkermes shares fell $4.44 (13%) to $30.31 Thursday after the company reported quarterly sales of schizophrenia therapy Aristada that fell short of both its own guidance and analysts' expectations. The company attributed the shortfall to inventory fluctuations.

Sales of Aristada aripiprazole lauroxil were $30.3 million in the quarter, up 4% from 1Q18 but well below the company's guidance of $40 million and the consensus estimate of $42.6 million...