Zacks Investment Research upgraded shares of Alexion Pharmaceuticals (NASDAQ:ALXN) from a hold rating to a buy rating in a report published on Tuesday. Zacks Investment Research currently has $133.00 price objective on the biopharmaceutical company’s stock.
According to Zacks, “Alexion topped earnings and sales estimates in the second quarter. Alexion's blockbuster drug Soliris continues to perform well. The FDA approval for the generalized myasthenia gravis indication has boosted sales further. Strensiq and Kanuma — are doing well too.The prospects of ALXN1210 looks good too given the positive data from the switch study and in treatment-naïve patients. Alexion recently submitted a BLA to the FDA for ALXN1210. Since the submission is for a rare disease using a priority review voucher, the BLA is entitled to an eight-month review by the FDA instead of the standard 12-month review. Meanwhile, the Wilson deal will strengthen Alexion’s rare disease pipeline with a late-stage candidate, WTX101 for the treatment of Wilson disease. Shares of the company have performed better than the industry in the year so far. However, the company relies heavily on Soliris for growth. Pricing is likely to impact sales.”
ALXN has been the subject of a number of other research reports. Stifel Nicolaus lifted their target price on shares of Alexion Pharmaceuticals from $151.00 to $155.00 and gave the stock a buy rating in a report on Friday, April 27th. Credit Suisse Group lifted their target price on shares of Alexion Pharmaceuticals from $149.00 to $154.00 and gave the stock an outperform rating in a report on Tuesday, June 5th. JPMorgan Chase & Co. lifted their target price on shares of Alexion Pharmaceuticals from $184.00 to $188.00 and gave the stock an overweight rating in a report on Friday, July 27th. BidaskClub raised shares of Alexion Pharmaceuticals from a hold rating to a buy rating in a report on Tuesday, July 10th. Finally, Morgan Stanley lifted their target price on shares of Alexion Pharmaceuticals from $150.00 to $157.00 and gave the stock an overweight rating in a report on Friday, July 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $157.56.
Alexion Pharmaceuticals (NASDAQ:ALXN) last released its earnings results on Thursday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.58. Alexion Pharmaceuticals had a negative net margin of 2.68% and a positive return on equity of 15.21%. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $976.81 million. During the same quarter in the previous year, the business earned $1.56 EPS. The business’s quarterly revenue was up 14.5% compared to the same quarter last year. equities analysts expect that Alexion Pharmaceuticals will post 6.46 EPS for the current year.
In other news, CFO Paul J. Clancy sold 5,241 shares of Alexion Pharmaceuticals stock in a transaction on Tuesday, July 10th. The shares were sold at an average price of $131.11, for a total transaction of $687,147.51. Following the transaction, the chief financial officer now directly owns 93,309 shares of the company’s stock, valued at $12,233,742.99. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP John J. Orloff sold 2,115 shares of Alexion Pharmaceuticals stock in a transaction on Friday, June 8th. The stock was sold at an average price of $118.53, for a total transaction of $250,690.95. Following the transaction, the executive vice president now directly owns 31,790 shares in the company, valued at $3,768,068.70. The disclosure for this sale can be found here. Company insiders own 4.35% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Advisory Services Network LLC lifted its position in Alexion Pharmaceuticals by 145.3% in the 2nd quarter. Advisory Services Network LLC now owns 883 shares of the biopharmaceutical company’s stock valued at $121,000 after acquiring an additional 523 shares in the last quarter. Point72 Asia Hong Kong Ltd lifted its position in Alexion Pharmaceuticals by 3,156.7% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 977 shares of the biopharmaceutical company’s stock valued at $109,000 after acquiring an additional 947 shares in the last quarter. Berson & Corrado Investment Advisors LLC bought a new stake in Alexion Pharmaceuticals in the 2nd quarter valued at $205,000. Lucia Wealth Services LLC bought a new stake in Alexion Pharmaceuticals in the 1st quarter valued at $191,000. Finally, Financial Gravity Wealth Inc. bought a new stake in Alexion Pharmaceuticals in the 1st quarter valued at $211,000. 93.51% of the stock is currently owned by institutional investors.
Alexion Pharmaceuticals Company Profile
Alexion Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes various therapeutic products. The company offers Soliris (eculizumab), a monoclonal antibody for the treatment of paroxysmal nocturnal hemoglobinuria (PNH), a genetic blood disorder; atypical hemolytic uremic syndrome (aHUS), a genetic disease; and generalized myasthenia gravis, a debilitating, complement-mediated neuromuscular disease.
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