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Goldman Sachs Said New Soliris Case Study a Positive for Alexion Pharmaceuticals (ALXN), Raises Price Target

March 22, 2012 8:28 AM EDT
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Price: $182.01 --0%

Rating Summary:
    10 Buy, 25 Hold, 0 Sell

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    Up: 13 | Down: 11 | New: 11
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Goldman Sachs raised its price target on Alexion Pharmaceuticals (NASDAQ: ALXN) from $92 to $105, while reiterating their Conviction Buy List rating, after the The New England Journal of Medicine published three compelling case studies of Soliris in treating rare kidney diseases MPGN.

The firm said this case study is positive because: 1) The case studies clearly show that Soliris will likely succeed in MPGN; the market size is currently unclear, like other rare diseases. 2) It increases the probability of success in other complement mediated disorders, as we see the drug being effective in varied diseases where complement is involved. 3) MPGN data could be a trigger for a faster approval for multiple rare kidney indications.

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 $92.80 yesterday.


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