Alexion Pharmaceuticals Upgraded to Outperform at Zacks (ALXN)
Alexion Pharmaceuticals (NASDAQ:ALXN) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a note issued to investors on Friday, American Banking and Market News reports. The firm currently has a $133.00 price target on the stock. Zacks‘ price objective would suggest a potential upside of 20.05% from the stock’s previous close.
Zacks‘ analyst wrote, “Alexion’s second quarter 2013 adjusted earnings of $0.64 per share surpassed the Zacks Consensus Estimate by $0.04 and the year-ago earnings by $0.23. Results were driven by increased revenues thanks to the continued strong performance by Soliris. Soliris sales soared driven by new patient additions in the PNH indication. The successful label expansion of Soliris into the aHUS indication boosted revenues further. Alexion upped its revenue as well as earnings guidance for 2013. Growth at Alexion is expected to be driven by strong Soliris sales. In view of these positives, we are upgrading the stock to Outperform from Neutral. We believe the current price represents an attractive entry point for long term investors.”
Several other analysts have also recently commented on the stock. Analysts at Goldman Sachs Group Inc. raised their price target on shares of Alexion Pharmaceuticals from $122.00 to $139.00 in a research note to investors on Wednesday, September 18th. They now have a “hold” rating on the stock. Separately, analysts at Jefferies Group raised their price target on shares of Alexion Pharmaceuticals from $88.00 to $97.00 in a research note to investors on Friday, July 26th. They now have a “hold” rating on the stock. Finally, analysts at Barclays raised their price target on shares of Alexion Pharmaceuticals from $118.00 to $121.00 in a research note to investors on Friday, July 26th. They now have an “overweight” rating on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $117.40.
Shares of Alexion Pharmaceuticals (NASDAQ:ALXN) traded down 1.87% during mid-day trading on Friday, hitting $108.72. 553,841 shares of the company’s stock traded hands. Alexion Pharmaceuticals has a 52-week low of $81.82 and a 52-week high of $125.65. The stock’s 50-day moving average is $112.5 and its 200-day moving average is $103.8. The company has a market cap of $21.261 billion and a P/E ratio of 63.16.
Alexion Pharmaceuticals (NASDAQ:ALXN) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.73 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.68 by $0.05. The company had revenue of $370.10 million for the quarter, compared to the consensus estimate of $364.80 million. During the same quarter in the previous year, the company posted $0.47 earnings per share. The company’s revenue for the quarter was up 34.7% on a year-over-year basis. Analysts expect that Alexion Pharmaceuticals will post $3.04 EPS for the current fiscal year.
Alexion Pharmaceuticals, Inc (NASDAQ:ALXN) is a biopharmaceutical company focused on serving patients with severe and ultra-rare disorders through the development and commercialization of life-transforming therapeutic products.
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