UPDATE - UBS Upgraded Alexion Pharmaceuticals (ALXN) to Buy; Sustained Growth of Soliris in Multiple Segments
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Price: $182.01 --0%
Rating Summary:
10 Buy, 25 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
10 Buy, 25 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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UPDATE - UBS upgraded Alexion Pharmaceuticals (NASDAQ: ALXN) from Neutral to Buy. PT boosted from $73 to $99.
UBS analyst said, "We are upgrading ALXN shares on the sustained growth of Soliris in multiple segments supplemented by a broad, early-stage pipeline. Our prior Neutral thesis was valuation-based, whereby we saw ALXN as a core holding but preferred to await a pullback before considering a more positive stance. However, we think our new model (PT now $99) better reflects the growth potential of the core PNH revenues, the pipeline, and margins."
Specific reasons for upgrade include: (1) the ultra-orphan drug model offers defensive growth in an uncertain macro environment; (2) PNH sales could double in core US/EU/JP markets; (3) Soliris geographic and label expansion offer multiple layers of growth, with >$1B opportunity in MG and NMO (the latter of which offers a 2012 catalyst); (4) improving visibility around the pipeline ex-Soliris adds to confidence for sustainability; and (5) assets + ultra-orphan model = scarcity value."
UBS raises FY12 EPS estimate from $1.55 to $1.77 and FY13 from $2.23 to $2.55.
To see more ratings on ALXN, Click Here
UBS analyst said, "We are upgrading ALXN shares on the sustained growth of Soliris in multiple segments supplemented by a broad, early-stage pipeline. Our prior Neutral thesis was valuation-based, whereby we saw ALXN as a core holding but preferred to await a pullback before considering a more positive stance. However, we think our new model (PT now $99) better reflects the growth potential of the core PNH revenues, the pipeline, and margins."
Specific reasons for upgrade include: (1) the ultra-orphan drug model offers defensive growth in an uncertain macro environment; (2) PNH sales could double in core US/EU/JP markets; (3) Soliris geographic and label expansion offer multiple layers of growth, with >$1B opportunity in MG and NMO (the latter of which offers a 2012 catalyst); (4) improving visibility around the pipeline ex-Soliris adds to confidence for sustainability; and (5) assets + ultra-orphan model = scarcity value."
UBS raises FY12 EPS estimate from $1.55 to $1.77 and FY13 from $2.23 to $2.55.
To see more ratings on ALXN, Click Here
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