Deutsche Raises Price Target on Alexion Pharm (ALXN), Encouraged About R&D Ramp Up

Deutsche Bank is reaffirming its Buy rating on shares of Alexion Pharmaceuticals (NASDAQ: ALXN), while boosting its price target from $78 to $92.

The company reported solid Q4 results and offered FY12 guidance which indicates the company is over doubling its R&D expenses. Some of ALXN's key investment for the year will include, asfotase alfa for hypophosphatasia, ph 3 trials of Soliris in kidney transplant and Soliris proof of concept trials in NMO & MG.

An analyst at Deutsche comments, "We see fruits of investment beginning to emerge in late 2013/2014 with launch of Soliris in STEC HUS & kidney transplant & asfotase alfa for hypophosphatasia"

The firm lowered its FY12 EPS estimate from $1.76 to $1.70 on 1.05 billion in total sales.

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 $80.41 yesterday.

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