Zacks Investment Research upgraded shares of Alexion Pharmaceuticals (NASDAQ:ALXN) from a hold rating to a strong-buy rating in a research note issued to investors on Tuesday. The brokerage currently has $134.00 price target on the biopharmaceutical company’s stock.
According to Zacks, “Alexion beat on earnings but marginally missed sales estimates in third-quarter 2018. Nevertheless, Alexion's blockbuster drug, Soliris continues to perform well. The FDA approval for the generalized myasthenia gravis indication has boosted sales significantly, leading to an increase in annual guidance. In the meantime, Strensiq and Kanuma — are doing well and will boost revenues. Alexion’s application for Ultomiris is under review in the United States, EU and Japan. The prospects of the candidate looks good, given the positive data from the switch study and in treatment-naïve patients. Shares have outperformed the industry so far in 2018. Alexion has been quite active on the acquisition front as the company is looking to diversify its portfolio and reduce dependence on Soliris. Alexion acquired Wilson Therapeutics and entered into an agreement to acquire Syntimmune. However, pricing is likely to impact sales.”
A number of other research analysts also recently weighed in on the company. Citigroup lowered their target price on Alexion Pharmaceuticals from $195.00 to $190.00 and set a buy rating on the stock in a report on Thursday, October 25th. Leerink Swann set a $181.00 target price on Alexion Pharmaceuticals and gave the company a buy rating in a report on Wednesday, October 24th. Credit Suisse Group set a $156.00 target price on Alexion Pharmaceuticals and gave the company a buy rating in a report on Monday, October 15th. Morgan Stanley increased their target price on Alexion Pharmaceuticals from $157.00 to $165.00 and gave the company an overweight rating in a report on Thursday, October 11th. Finally, BidaskClub downgraded Alexion Pharmaceuticals from a buy rating to a hold rating in a report on Tuesday, October 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Alexion Pharmaceuticals currently has a consensus rating of Buy and a consensus price target of $161.29.
Alexion Pharmaceuticals (NASDAQ:ALXN) last posted its earnings results on Wednesday, October 24th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.28. Alexion Pharmaceuticals had a return on equity of 16.60% and a net margin of 3.90%. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the prior year, the company earned $1.44 earnings per share. Alexion Pharmaceuticals’s revenue was up 19.5% on a year-over-year basis. On average, equities analysts predict that Alexion Pharmaceuticals will post 6.82 earnings per share for the current year.
A number of institutional investors and hedge funds have recently modified their holdings of ALXN. CIBC World Markets Inc. increased its position in Alexion Pharmaceuticals by 170.6% in the first quarter. CIBC World Markets Inc. now owns 5,954 shares of the biopharmaceutical company’s stock worth $664,000 after buying an additional 3,754 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Alexion Pharmaceuticals in the first quarter worth about $257,000. Private Trust Co. NA increased its position in Alexion Pharmaceuticals by 28.8% in the second quarter. Private Trust Co. NA now owns 10,640 shares of the biopharmaceutical company’s stock worth $1,320,000 after buying an additional 2,377 shares in the last quarter. DnB Asset Management AS increased its position in Alexion Pharmaceuticals by 4.4% in the second quarter. DnB Asset Management AS now owns 26,208 shares of the biopharmaceutical company’s stock worth $3,254,000 after buying an additional 1,100 shares in the last quarter. Finally, IFM Investors Pty Ltd grew its position in shares of Alexion Pharmaceuticals by 44.7% during the second quarter. IFM Investors Pty Ltd now owns 10,003 shares of the biopharmaceutical company’s stock worth $1,242,000 after purchasing an additional 3,088 shares in the last quarter. Institutional investors and hedge funds own 92.94% of the company’s stock.
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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