Zacks Downgrades Alexion Pharmaceuticals to Neutral (ALXN)
Alexion Pharmaceuticals (NASDAQ:ALXN) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Thursday. They currently have a $173.00 target price on the stock. Zacks‘s price target would suggest a potential upside of 6.21% from the stock’s previous close.
Zacks’ analyst wrote, “We are reverting to a Neutral recommendation on Alexion as we believe that the stock is fairly valued at current levels. Alexion’s first quarter adjusted earnings of $1.41 per share surpassed the Zacks Consensus Estimate by $0.32 and the year-ago figure by 143%. The company’s revenues jumped 67% in the quarter to $566.6 million. Results were driven by strong Soliris sales for the PNH and aHUS indications. The company also upped its earnings guidance to the range of $4.75 to $4.85 per share. Growth at Alexion is expected to be driven by strong Soliris sales. Alexion expects several product approvals in the coming years. Successful development and commercialization of these candidates will reduce the company’s dependence on Soliris for growth.”
A number of other analysts have also recently weighed in on ALXN. Analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Alexion Pharmaceuticals in a research note on Friday, May 9th. They now have a $210.00 price target on the stock, up previously from $200.00. Separately, analysts at Stifel Nicolaus reiterated a “buy” rating on shares of Alexion Pharmaceuticals in a research note on Friday, April 25th. They now have a $220.00 price target on the stock, up previously from $219.00. Finally, analysts at Ned Davis Research upgraded shares of Alexion Pharmaceuticals from a “sell” rating to a “neutral” rating in a research note on Monday, April 21st. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Alexion Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $181.44.
Shares of Alexion Pharmaceuticals (NASDAQ:ALXN) traded down 0.99% during mid-day trading on Thursday, hitting $162.89. 1,208,344 shares of the company’s stock traded hands. Alexion Pharmaceuticals has a 52 week low of $95.45 and a 52 week high of $185.43. The stock has a 50-day moving average of $163.3 and a 200-day moving average of $157.. The company has a market cap of $32.219 billion and a P/E ratio of 99.47.
Alexion Pharmaceuticals (NASDAQ:ALXN) last issued its quarterly earnings data on Thursday, April 24th. The company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.27. The company had revenue of $566.60 million for the quarter, compared to the consensus estimate of $560.22 million. During the same quarter in the previous year, the company posted $0.65 earnings per share. The company’s revenue for the quarter was up 67.2% on a year-over-year basis. On average, analysts predict that Alexion Pharmaceuticals will post $4.87 earnings per share 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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