BMO Capital Upgrades Alexion Pharmaceuticals (ALXN) to Outperform
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Rating Summary:
10 Buy, 25 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 9 | Down: 7 | New: 41
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BMO Capital upgraded Alexion Pharmaceuticals (NASDAQ: ALXN) from Market Perform to Outperform with a price target of $168.00 (from $165.00).
Analyst M. Ian Somaiya commented, "We believe a sell-off in ALXN post 1Q16 earnings provides an ideal entry point ahead of two major clinical catalysts in mid-2016. We expect Phase III data for Soliris in myasthenia gravis (MG) to support a $1.5B market opportunity with potential for rapid uptake. In addition, our conversation with management suggests that ALXN-1210 could achieve once every six weeks dosing schedule and Phase III design that may allow for shorter infusion than we had feared. This should enable Alexion to maintain the vast majority of its PNH and aHUS revenue stream in the face of branded and biosimilar competition in the U.S. and Europe and evaluate its pipeline of eight complement inhibitors in new disease segments, all of which would represent upside to our estimates."
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 $142.53 yesterday.
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