Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) was upgraded by investment analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a report issued on Thursday. The brokerage presently has a $138.00 target price on the biopharmaceutical company’s stock, up from their previous target price of $101.08. Morgan Stanley’s target price points to a potential upside of 40.10% from the stock’s current price.

The analysts wrote, “re-prioritize the strategic direction” of the company. Furthermore, the second-quarter strategic review serves as a “turning point” for investor sentiment.”While we understand investor unease that another ‘shoe could drop’ on this story, we see the risk/reward as compelling and believe new management is making progress right sizing the company and refocusing its efforts,” the analyst wrote.2. Underappreciated StoryHarrison also believes Alexion’s stock is pricing “little-to-no value” for the ALXN1210 life-cycle extension strategy. Meanwhile, investors are under-appreciating the antibody but the sentiment could turn move positive with potential gMG approval and the release of pivotal data.Harrison also believes Alexion’s core asset value is “not impaired.” Also, the analyst suggested that the underlying patient need and use of Solaris is “sound” and the company’s strategy to protect Solaris through new IP and ALXN1210 is “very defensible with clarity on this strategy coming in less than 12 months.”

Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. set a $170.00 target price on shares of Alexion Pharmaceuticals and gave the stock a “buy” rating in a research report on Tuesday, February 7th. Instinet reaffirmed a “buy” rating and set a $148.00 target price on shares of Alexion Pharmaceuticals in a research report on Thursday, March 30th. Leerink Swann set a $208.00 target price on shares of Alexion Pharmaceuticals and gave the stock a “buy” rating in a research report on Monday, March 13th. Nomura started coverage on shares of Alexion Pharmaceuticals in a research report on Wednesday, March 1st. They set a “buy” rating on the stock. Finally, Credit Suisse Group AG reaffirmed a “buy” rating and set a $160.00 target price on shares of Alexion Pharmaceuticals in a research report on Friday, February 17th. Seven investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $164.49.

Analyst Recommendations for Alexion Pharmaceuticals (NASDAQ:ALXN)

Alexion Pharmaceuticals (NASDAQ:ALXN) traded down 2.55% during mid-day trading on Thursday, reaching $98.50. The company’s stock had a trading volume of 8,367,992 shares. Alexion Pharmaceuticals has a one year low of $98.40 and a one year high of $157.02. The firm’s 50 day moving average is $119.37 and its 200-day moving average is $124.12. The stock has a market cap of $22.12 billion, a P/E ratio of 46.93 and a beta of 1.39.

Alexion Pharmaceuticals (NASDAQ:ALXN) last issued its earnings results on Thursday, April 27th. The biopharmaceutical company reported $1.38 EPS for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.33. The business had revenue of $870 million for the quarter, compared to analyst estimates of $826.63 million. Alexion Pharmaceuticals had a net margin of 12.46% and a return on equity of 10.58%. The company’s quarterly revenue was up 24.3% compared to the same quarter last year. During the same period last year, the company posted $1.11 earnings per share. Equities analysts expect that Alexion Pharmaceuticals will post $5.31 earnings per share for the current fiscal year.

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In related news, SVP Heidi L. Wagner sold 994 shares of the firm’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $131.65, for a total transaction of $130,860.10. Following the completion of the transaction, the senior vice president now owns 29,646 shares of the company’s stock, valued at $3,902,895.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Leonard Bell sold 3,978 shares of the firm’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $131.96, for a total transaction of $524,936.88. Following the transaction, the director now directly owns 391,910 shares of the company’s stock, valued at approximately $51,716,443.60. The disclosure for this sale can be found here. Insiders have sold 11,476 shares of company stock valued at $1,504,601 over the last quarter. Insiders own 4.41% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of ALXN. Advantage Investment Management LLC acquired a new position in shares of Alexion Pharmaceuticals during the fourth quarter valued at about $101,000. Guardian Life Insurance Co. of America boosted its position in shares of Alexion Pharmaceuticals by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 865 shares of the biopharmaceutical company’s stock valued at $105,000 after buying an additional 6 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of Alexion Pharmaceuticals during the first quarter valued at about $111,000. Independent Portfolio Consultants Inc. boosted its position in shares of Alexion Pharmaceuticals by 46.9% in the first quarter. Independent Portfolio Consultants Inc. now owns 1,065 shares of the biopharmaceutical company’s stock valued at $129,000 after buying an additional 340 shares during the period. Finally, FUKOKU MUTUAL LIFE INSURANCE Co boosted its position in shares of Alexion Pharmaceuticals by 10.0% in the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,100 shares of the biopharmaceutical company’s stock valued at $133,000 after buying an additional 100 shares during the period. 94.98% of the stock is owned by hedge funds and other institutional investors.

About Alexion Pharmaceuticals

Alexion Pharmaceuticals, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of therapeutic products. The Company’s products include Soliris (eculizumab), Strensiq (asfotase alfa) and Kanuma (sebelipase alfa). The Company’s clinical development programs include Soliris (eculizumab), cPMP (ALXN1101), SBC-103, ALXN1210 (IV) and ALXN1210 (Subcutaneous).

12 Month Chart for NASDAQ:ALXN

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