Alexion Pharmaceuticals (ALXN) High Valuation: Jefferies Says Hold, Ups Price Target

Jefferies analysts increased their price target on Alexion Pharmaceuticals (NASDAQ: ALXN) from $68 to $76 after the company reported first quarter EPS in-line with non-GAAP estimates ($0.45).

Sales of their top drug, Soliris, were higher than expected and have contributed significantly to the company’s high valuation. Given the run up in share price, Jefferies has a HOLD rating on the stock.

FY12 guidance for non-GAAP EPS was increased to $1.65-$1.75 (from $1.60-$1.70).

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 $88.90 yesterday.

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