BofA/Merrill Lynch Reinstates Alexion Pharmaceuticals (ALXN) at Buy
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Rating Summary:
10 Buy, 25 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 20 | Down: 14 | New: 22
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BofA/Merrill Lynch reinstates coverage on Alexion Pharmaceuticals (NASDAQ: ALXN) with a Buy rating and a price target of $197.00.
Analyst Ying Huang comments, "We are reinstating coverage of ALXN with a Buy rating and a price objective of $197, based on a DCF analysis. ALXN focuses on developing therapies that deliver meaningful clinical benefit to patients with severe and life-threatening rare diseases. We believe share price appreciation in 2015 will be driven by upward revisions to longer term Street estimates for both currently marketed product Soliris and its second product asfotase alfa that is expected on the market in early 2015. In our view, the barrier to entry in the ultra-orphan drug business is underestimated by investors."
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 $165.82 yesterday.
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