Needham & Company Maintains a 'Hold' on Alexion Pharmaceuticals (ALXN); Hot Quarter and Fiery Fundamentals Along with Sizzling Valuation

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

Needham analyst says, "Yesterday, Alexion reported 2Q11 financial results, once again beating our estimates and Street consensus. The Company revised its 2011 guidance upwards for the second time during the year. We believe the Company’s fundamentals remain strong, with solid execution in penetrating the existing PNH market (US, EU, Japan, and Australia) and plans to enter new territories (Turkey, Brazil, and Russia), as well as expansion of potential Soliris indications in aHUS (priority review granted by FDA) and other rare indications. Yet we believe current stock price reflects the expected continued growth of Soliris as well as expected favorable upcoming events in the near term. We believe the story is well understood by investors, and the stock is fair valued."

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 $56.77 yesterday.

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