Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The brokerage currently has a $144.00 price objective on the biopharmaceutical company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 12.69% from the company’s previous close.
According to Zacks, “Alexion topped earnings estimates but missed on revenues in the third quarter. The increase in earnings guidance was also positive. Alexion’s blockbuster drug, Soliris, continues to perform well and the FDA approval of the drug for generalized myasthenia gravis will further boost sales. Among new products, while Strensiq is gaining momentum, the company redefined its strategy for Kanuma which earlier lagged expectations. In order to focus better in core areas, Alexion has de-prioritized a few clinical programs and terminated its partnerships with Moderna Therapeutics, Blueprint Medicines and Arbutus Biopharma. With a new CFO, we expect investor focus on results from the realignment of the resources and pipeline progress. However, the company relies heavily on Soliris for growth while pricing will impact Strensiq revenues going forward.Shares of the company have underperformed the industry in the last six months.”
Several other research firms also recently weighed in on ALXN. Royal Bank Of Canada began coverage on Alexion Pharmaceuticals in a research report on Thursday, September 14th. They issued an “outperform” rating and a $161.00 target price on the stock. J P Morgan Chase & Co upgraded Alexion Pharmaceuticals from a “neutral” rating to an “overweight” rating and raised their target price for the company from $163.00 to $175.00 in a research report on Tuesday, September 5th. BMO Capital Markets restated an “outperform” rating and issued a $173.00 target price (up previously from $168.00) on shares of Alexion Pharmaceuticals in a research report on Wednesday, September 13th. SunTrust Banks, Inc. restated a “buy” rating and issued a $180.00 target price (up previously from $170.00) on shares of Alexion Pharmaceuticals in a research report on Wednesday, September 13th. Finally, Leerink Swann reiterated an “outperform” rating and set a $182.00 price objective (up previously from $170.00) on shares of Alexion Pharmaceuticals in a research report on Wednesday, September 13th. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $154.01.
Alexion Pharmaceuticals (ALXN) opened at 127.81 on Tuesday. The stock has a market capitalization of $28.53 billion, a PE ratio of 55.42 and a beta of 1.39. The company has a 50-day moving average price of $140.26 and a 200-day moving average price of $128.60. Alexion Pharmaceuticals has a 12-month low of $96.18 and a 12-month high of $149.34.
Alexion Pharmaceuticals (NASDAQ:ALXN) last released its earnings results on Thursday, October 26th. The biopharmaceutical company reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.12. The business had revenue of $859.00 million for the quarter, compared to the consensus estimate of $864.34 million. Alexion Pharmaceuticals had a return on equity of 12.55% and a net margin of 14.57%. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.23 earnings per share. Analysts expect that Alexion Pharmaceuticals will post $5.62 earnings per share for the current fiscal year.
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In other news, EVP Julie O’neill sold 11,160 shares of Alexion Pharmaceuticals stock in a transaction on Monday, August 28th. The stock was sold at an average price of $140.00, for a total value of $1,562,400.00. Following the completion of the sale, the executive vice president now directly owns 26,704 shares of the company’s stock, valued at $3,738,560. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ann M. Veneman sold 835 shares of Alexion Pharmaceuticals stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $145.81, for a total value of $121,751.35. Following the completion of the sale, the director now directly owns 5,480 shares of the company’s stock, valued at $799,038.80. The disclosure for this sale can be found here. Insiders sold 16,490 shares of company stock valued at $2,337,251 over the last ninety days. Insiders own 4.35% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of ALXN. Fiduciary Trust Co. acquired a new stake in shares of Alexion Pharmaceuticals in the second quarter valued at $111,000. Huntington National Bank grew its stake in shares of Alexion Pharmaceuticals by 1,084.6% in the second quarter. Huntington National Bank now owns 1,078 shares of the biopharmaceutical company’s stock valued at $131,000 after buying an additional 987 shares in the last quarter. Penserra Capital Management LLC grew its stake in shares of Alexion Pharmaceuticals by 13.0% in the second quarter. Penserra Capital Management LLC now owns 1,248 shares of the biopharmaceutical company’s stock valued at $151,000 after buying an additional 144 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Alexion Pharmaceuticals in the second quarter valued at $160,000. Finally, Grove Bank & Trust grew its stake in shares of Alexion Pharmaceuticals by 194.7% in the second quarter. Grove Bank & Trust now owns 1,347 shares of the biopharmaceutical company’s stock valued at $164,000 after buying an additional 890 shares in the last quarter. 94.55% of the stock is owned by institutional investors and hedge funds.
Alexion Pharmaceuticals Company Profile
Alexion Pharmaceuticals, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of therapeutic products. The Company’s products include Soliris (eculizumab), Strensiq (asfotase alfa) and Kanuma (sebelipase alfa). The Company’s clinical development programs include Soliris (eculizumab), cPMP (ALXN1101), SBC-103, ALXN1210 (IV) and ALXN1210 (Subcutaneous).
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