Canaccord Genuity Maintains a 'Buy' on Alexion Pharmaceuticals (ALXN); Raising PT and Estimates on Beat & Raise

Canaccord Genuity maintains a 'Buy' on Alexion Pharmaceuticals (NASDAQ: ALXN) price target raised from $95 to $100.

Analyst, Salveen Richter, said, "Following a Q1/12 top- and bottom-line beat and upwardly revised FY12 guidance, we continue to view ALXN as a solid earnings execution story going forward in 2012. While shares are up ~25% YTD and investors question whether a “steady” aHUS launch will result in meaningful upside to Soliris estimates, we believe physician education/marketing efforts will result in increased market penetration over time similar to PNH. Pipeline advancements, driven by asfotase alpha, as well as potential Soliris regulatory filings in STEC-HUS, NMO P2 IIT data and the potential initiation of MG and NMO trials by YE12, will also drive value."

"We now model for FY12 Soliris revenue of $1.09B (vs. $1.07B previously given the sales trajectory and on increased guidance) and non-GAAP EPS of $1.77 (vs. $1.66 previously)."

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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