Alexion Pharma (ALXN): Soliris Revenues In Jeopardy According To Survey - Jefferies
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
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.
Shares of Alexion Pharmaceuticals closed at $133.69 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- JPMorgan Cuts Teva Pharma (TEVA) to Neutral Amid Challenging Generic Environment
- Rite Aid (RAD)/Walgreens (WBA) Antitrust Concerns Doesn't Mean Deal is Dead, Says Deutsche Bank
- Signet Jewelers (SIG) May Be Close To Selling Credit Business, Likely Positive For Stock - Northcoast Research
Create E-mail Alert Related CategoriesAnalyst Comments, Hot Comments
Related EntitiesJefferies & Co
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!