Baird Maintains a 'Neutral' on Alexion Pharmaceuticals (ALXN); Raising Estimates, Price Target; Dying for a Pull-Back

Baird maintains a 'Neutral' on Alexion Pharmaceuticals (NASDAQ: ALXN), raises price target to $60.

Baird analyst says, "With continued above-consensus numbers in Soliris' base business and ALXN's most robust pipeline opportunity in history, this remains one of Biotech's best run and most exciting commercial stories, in our view. Our Neutral stance - based solely on valuation - has been wrong. However, even our most aggressive, above-consensus modeling yields a $60 price target. While we see no immediate catalyst for a pull-back, would look for such a scenario as an entry point...We now model FY11 Soliris revenue of $759M, just above management's newly raised guidance range of $745M-$755M."

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 $52.04 yesterday.

---

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

---

You May Also Be Interested In

• Fiserv (FISV) PT Lowered to $60 at Freedom Broker
• Jefferies on Five Below (FIVE): 'Our latest channel checks reinforce our view that FIVE's momentum extends well beyond viral Squish trends'
• Powell Industries (POWL) PT Lowered to $235 at Cantor Fitzgerald