Zacks Investment Research upgraded shares of Alexion Pharmaceuticals (NASDAQ:ALXN) from a hold rating to a buy rating in a research note published on Thursday. Zacks Investment Research currently has $127.00 price objective on the biopharmaceutical company’s stock.
According to Zacks, “Alexion’s blockbuster drug, Soliris, continues to perform well and the FDA approval of the drug for generalized myasthenia gravis is likely to boost sales further. The prospects of ALXN1210 looks good too and a tentative approval will boost the top-line. Alexion is looking to diversify its portfolio and reduce its dependence on its blockbuster drug Soliris. The recently announced Wilson deal will strengthen Alexion’s rare disease pipeline with a late-stage candidate, WTX101 which is currently in phase III for the treatment of Wilson disease, a rare genetic disorder. Earlier, Alexion has de-prioritized a few clinical programs and terminated partnerships with Moderna Therapeutics among others. Shares of the company have performed better than the industry in the last three months. However, the company relies heavily on Soliris for growth and sales of the same will be impacted by ramp-up of ALXN1210 trials. Pricing will also hit sales.”
Several other research analysts have also recently commented on the company. Nomura raised their target price on Alexion Pharmaceuticals to $165.00 and gave the stock a buy rating in a research report on Thursday, April 12th. BidaskClub cut Alexion Pharmaceuticals from a sell rating to a strong sell rating in a research report on Tuesday, March 27th. Credit Suisse Group reaffirmed an outperform rating and issued a $149.00 target price (up from $147.00) on shares of Alexion Pharmaceuticals in a research report on Friday, March 16th. Robert W. Baird set a $160.00 target price on Alexion Pharmaceuticals and gave the stock a buy rating in a research report on Thursday, March 15th. Finally, Deutsche Bank set a $161.00 target price on Alexion Pharmaceuticals and gave the stock a buy rating in a research report on Thursday, March 15th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. Alexion Pharmaceuticals has a consensus rating of Buy and a consensus target price of $155.18.
Alexion Pharmaceuticals (NASDAQ:ALXN) last announced its quarterly earnings data on Thursday, February 8th. The biopharmaceutical company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.39. The business had revenue of $909.70 million for the quarter, compared to the consensus estimate of $880.38 million. Alexion Pharmaceuticals had a net margin of 12.48% and a return on equity of 12.94%. Alexion Pharmaceuticals’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the company posted $1.26 earnings per share. research analysts forecast that Alexion Pharmaceuticals will post 6.12 earnings per share for the current fiscal year.
In other Alexion Pharmaceuticals news, CEO Ludwig Hantson sold 13,245 shares of Alexion Pharmaceuticals stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $116.31, for a total transaction of $1,540,525.95. Following the completion of the transaction, the chief executive officer now directly owns 131,425 shares of the company’s stock, valued at $15,286,041.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Paul J. Clancy sold 6,079 shares of Alexion Pharmaceuticals stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $116.31, for a total value of $707,048.49. Following the transaction, the chief financial officer now directly owns 95,093 shares of the company’s stock, valued at $11,060,266.83. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,700 shares of company stock valued at $3,345,708. Company insiders own 4.35% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in ALXN. Delpha Capital Management LLC bought a new position in shares of Alexion Pharmaceuticals in the fourth quarter valued at about $102,000. CNB Bank bought a new position in shares of Alexion Pharmaceuticals in the fourth quarter valued at about $150,000. Lourd Capital LLC bought a new position in shares of Alexion Pharmaceuticals in the fourth quarter valued at about $221,000. CIBC World Markets Inc. bought a new position in shares of Alexion Pharmaceuticals in the fourth quarter valued at about $263,000. Finally, Bailard Inc. bought a new position in shares of Alexion Pharmaceuticals in the fourth quarter valued at about $263,000. 95.09% of the stock is owned by institutional investors and hedge funds.
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About Alexion Pharmaceuticals
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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