FBR Capital Upgrades Alexion Pharmaceuticals (ALXN) to Market Perform

October 28, 2016 6:35 AM EDT
Get Alerts ALXN Hot Sheet
Price: $122.96 +0.78%

Rating Summary:
    21 Buy, 9 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 11 | Down: 31 | New: 42
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FBR Capital upgraded Alexion Pharmaceuticals (NASDAQ: ALXN) from Underperform to Market Perform with a price target of $130.00.

Analyst Christopher James commented, "Yesterday, Alexion reported its financial results for 3Q16. Total revenues came in at $799 million, well above our and the consensus estimates of $743 million and $787 million, respectively. Quarter-over-quarter Soliris sales grew from $701 million to $729 million. In terms of pipeline advancements, we received updates on all clinical programs; however, we focus on the following key takeaways: (1) ALXN1210 is advancing with the initiation of two registrational Phase III trials in PNH and aHUS in 4Q16 with eight-week dosing intervals and a recent initiation of dosing with the SQ formulation of ALXN1210 in a Phase I trial with healthy volunteers; (2) ALXN plans to file eculizumab in the U.S. and EU for refractory MG (rMG) in 1Q17, based on regulatory feedback; and (3) we expect Strensiq to be the primary growth driver of the metabolic franchise over the next few years."

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 $131.37 yesterday.



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