Zacks Investment Research upgraded shares of Alexion Pharmaceuticals (NASDAQ:ALXN) from a hold rating to a buy rating in a report published on Monday morning, Zacks.com reports. Zacks Investment Research currently has $147.00 price objective on the biopharmaceutical company’s stock.
According to Zacks, “Alexion reported strong results for the first quarter, wherein it beat both earnings and sales estimates. The company also upped its annual guidance for earnings and sales. Alexion's blockbuster drug, Soliris, continues to perform well. The label expansion of the drug for the generalized myasthenia gravis indication boosted sales significantly. The FDA recently approved Alexion’s long-acting C5 complement inhibitor, Ultomiris, for the treatment of adults with PNH, which has strengthened its PNH franchise. Meanwhile, Strensiq and Kanuma are doing well. Alexion has been quite active on the acquisition front in a bid to diversify its portfolio and reduce dependence on Soliris. Alexion acquired Wilson Therapeutics and Syntimmune in 2018. Shares have outperformed the industry in the year so far. However, pricing is likely to impact sales. Moreover, the company relies heavily on Soliris for growth. Pipeline setbacks are also a concern.”
Other equities analysts have also recently issued research reports about the stock. Royal Bank of Canada reaffirmed an outperform rating and set a $186.00 price target (up previously from $165.00) on shares of Alexion Pharmaceuticals in a research report on Wednesday, March 27th. TheStreet raised shares of Alexion Pharmaceuticals from a c rating to a b rating in a research report on Thursday, April 25th. BidaskClub cut shares of Alexion Pharmaceuticals from a buy rating to a hold rating in a research report on Thursday, March 21st. Raymond James began coverage on shares of Alexion Pharmaceuticals in a research report on Wednesday, April 10th. They set an outperform rating and a $161.00 price target on the stock. Finally, Morgan Stanley increased their price target on shares of Alexion Pharmaceuticals from $165.00 to $175.00 and gave the stock an overweight rating in a research report on Tuesday, February 12th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Alexion Pharmaceuticals currently has a consensus rating of Buy and a consensus price target of $163.06.
Alexion Pharmaceuticals (NASDAQ:ALXN) last issued its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported $2.39 EPS for the quarter, topping the consensus estimate of $1.99 by $0.40. Alexion Pharmaceuticals had a net margin of 9.59% and a return on equity of 19.53%. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter last year, the company posted $1.68 earnings per share. The company’s quarterly revenue was up 22.5% compared to the same quarter last year. As a group, analysts anticipate that Alexion Pharmaceuticals will post 8.6 EPS for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of ALXN. Allstate Corp increased its stake in shares of Alexion Pharmaceuticals by 233.5% in the first quarter. Allstate Corp now owns 8,925 shares of the biopharmaceutical company’s stock valued at $1,206,000 after purchasing an additional 6,249 shares during the period. Columbia Asset Management acquired a new stake in shares of Alexion Pharmaceuticals in the first quarter valued at approximately $111,000. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund acquired a new stake in shares of Alexion Pharmaceuticals in the first quarter valued at approximately $419,000. Nordea Investment Management AB increased its stake in shares of Alexion Pharmaceuticals by 199.3% in the first quarter. Nordea Investment Management AB now owns 36,102 shares of the biopharmaceutical company’s stock valued at $4,881,000 after purchasing an additional 24,041 shares during the period. Finally, Horizon Investments LLC acquired a new stake in shares of Alexion Pharmaceuticals in the first quarter valued at approximately $247,000. 94.82% of the stock is currently owned by hedge funds and other institutional investors.
Alexion Pharmaceuticals Company Profile
Alexion Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes various therapeutic products. The company offers ULTOMIRIS (ALXN1210/ravulizumab-cwvz), a monoclonal antibody for the treatment of paroxysmal nocturnal hemoglobinuria (PNH), a genetic blood disorder; and Soliris (eculizumab), a monoclonal antibody for the treatment of PNH, atypical hemolytic uremic syndrome (aHUS), and generalized myasthenia gravis.
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