Needham & Company Maintains a 'Hold' on Alexion Pharmaceuticals (ALXN); Soliris Data at EHA Mtg Demonstrate Profound Treatment Effect

Needham & Company maintains a 'Hold' on Alexion Pharmaceuticals (NASDAQ: ALXN).

Needham analyst says, "At the 2011 EHA Meeting, Alexion presented the final data from two Phase 2 trials of Soliris in adult and adolescent aHUS patients: one in plasma therapy sensitive patients and one in plasma therapy resistant patients. Both studies met the primary endpoint and the secondary endpoints with high statistical significance and clinical relevance. Soliris treatment prevented TMA, improved renal function, and improved QoL in these patients. Investigators also presented a retrospective analysis of 15 pediatric aHUS patients treated with Soliris, which demonstrated treatment effect consistent with the results in the Phase 2 trials in adult and adolescent patients. In addition, long term follow up data in PNH patients showed that Soliris treatment improved the probability of survival of the PNH patients to a level that is comparable to the normal population."

"We maintain our HOLD rating, as we believe the stock price reflects the expected approval in aHUS and continued growth in PNH. Developments in other indications, while promising, are still in early stage. We believe the story is well understood by investors, and the stock is fairly valued: our valuation is based on 30x 2013 non-GAAP EPS of $2.06 and discounted by 10% annually."

For more ratings news on Alexion Pharmaceuticals click here and for the rating history of Alexion Pharmaceuticals click here.

Shares of Alexion Pharmaceuticals closed at $45.52 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Coherent (COHR) PT Raised to $420 at Needham
• Yum! Brands (YUM) PT Lowered to $180 at Argus
• RCM Technologies (RCMT) PT Raised to $45 at Benchmark on Q2 Beat