Alexion Pharma (ALXN): Soliris Revenues In Jeopardy According To Survey - Jefferies

September 23, 2016 7:35 AM EDT
Get Alerts ALXN Hot Sheet
Price: $126.00 +0.30%

Rating Summary:
    21 Buy, 9 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 21 | Down: 18 | New: 19
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Jefferies analyst, Eun Yang, reiterated her Hold rating on shares of Alexion Pharmaceuticals (NASDAQ: ALXN) and cut the price target to $120 from $140. Jefferies recently conducted a physician survey that showed that ~60% would shift from Soliris to biosimilars if they were available, citing cost as single biggest area of improvement.

The analyst cut her Soliris est's in >2021 and in turn reduced the PT to $120. Est's in 2021+ are now 19-31% lower than consensus. U.S. biosimilar financial impact may not be until 2021, but the analyst views the next 2-3yrs competitors' data/news flow as impactful and will likely compel analysts to revisit expectations for the Soliris LT potential.

For an analyst ratings summary and ratings history on Alexion Pharmaceuticals click here. For more ratings news on Alexion Pharmaceuticals click here.

Shares of Alexion Pharmaceuticals closed at $133.69 yesterday.



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