Canaccord Genuity Raises Estimates on Alexion Pharmaceuticals (ALXN); Pleased with aHUS Launch Progress

Canaccord Genuity maintains a 'Buy' on Alexion Pharmaceuticals (NASDAQ: ALXN) price target of $115.00 (from $100.00).

Analyst, Salveen Richter, said, "Given a Q2 top- and bottom-line beat and the second upwards revision of guidance this year, partially driven by a bolus of patients from Brazil and Turkey (accounting for ~$4M-$4.5M in revenue), we believe with the continued geographic expansion into Latin America, Russia (expected mid-13, may trigger another bolus), Scandinavia and the Middle East, with the ex-U.S./E.U. territories to account for ~33% of revenue vs. ~23% currently, ALXN can continue to outperform on the top line, especially as the aHUS launch gains traction...We are increasing our Soliris revenue estimates for Q3 ($290.4M, assuming -$4M F/X impact, from $281.7M) and beyond."

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 $105.13 yesterday.

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