Alexion Pharmaceuticals Inc. (NASDAQ:ALXN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “Alexion is a biopharmaceutical company focused on the development of treatments targeting ultra-rare disorders. The company is viewing Strensiq as the new growth driver in 2016 and beyond. This eventually should reduce the company’s dependence on a single product, Soliris, for growth. In fact, the company expects earnings to be driven by continued growth in Soliris, an increase in the number of patients on Strensiq and Kanuma beyond 2016, and the expansion of operating margins to 48–49% in 2018. Meanwhile, Alexion has quite a few candidates in its pipeline and also working on expanding Soliris’ label. Several pipeline-related news expected over the upcoming quarters could act as catalyst for the company. However, Alexion expects Soliris revenues in 2016 to be hampered by increased macroeconomic weakness in Latin America. Moreover, Alexion had lowered its earnings outlook for 2016 due to a higher tax rate.”
A number of other equities analysts have also weighed in on the stock. Vetr lowered shares of Alexion Pharmaceuticals from a “strong-buy” rating to a “strong sell” rating and set a $107.00 price target for the company. in a research report on Thursday, September 22nd. Piper Jaffray Cos. reissued an “overweight” rating and issued a $185.00 target price on shares of Alexion Pharmaceuticals in a report on Tuesday, August 16th. Morgan Stanley reissued an “overweight” rating on shares of Alexion Pharmaceuticals in a report on Wednesday, June 29th. Royal Bank Of Canada started coverage on shares of Alexion Pharmaceuticals in a report on Tuesday, July 12th. They issued an “outperform” rating and a $188.00 target price on the stock. Finally, Citigroup Inc. raised shares of Alexion Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $154.00 target price on the stock in a report on Monday, June 27th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $178.32.
Shares of Alexion Pharmaceuticals (NASDAQ:ALXN) traded up 0.29% during trading on Tuesday, hitting $124.87. 618,867 shares of the stock traded hands. The firm has a market cap of $28.00 billion, a price-to-earnings ratio of 313.74 and a beta of 1.08. Alexion Pharmaceuticals has a 12 month low of $110.56 and a 12 month high of $193.45. The company has a 50 day moving average price of $130.45 and a 200 day moving average price of $135.48.
Alexion Pharmaceuticals (NASDAQ:ALXN) last posted its quarterly earnings results on Thursday, July 28th. The biopharmaceutical company reported $1.13 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.17 by $0.04. The firm earned $753 million during the quarter, compared to the consensus estimate of $743.18 million. Alexion Pharmaceuticals had a return on equity of 10.02% and a net margin of 3.19%. The business’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.44 earnings per share. Analysts anticipate that Alexion Pharmaceuticals will post $4.64 earnings per share for the current fiscal year.
In related news, CEO David Hallal sold 332 shares of the stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $137.14, for a total value of $45,530.48. Following the completion of the transaction, the chief executive officer now directly owns 189,266 shares of the company’s stock, valued at approximately $25,955,939.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Leonard Bell sold 1,010 shares of the stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $137.14, for a total transaction of $138,511.40. Following the completion of the transaction, the director now directly owns 405,289 shares of the company’s stock, valued at $55,581,333.46. The disclosure for this sale can be found here. 4.41% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the stock. Meeder Asset Management Inc. bought a new position in shares of Alexion Pharmaceuticals during the first quarter valued at approximately $114,000. NEXT Financial Group Inc raised its position in Alexion Pharmaceuticals by 66.1% in the second quarter. NEXT Financial Group Inc now owns 1,106 shares of the biopharmaceutical company’s stock worth $129,000 after buying an additional 440 shares in the last quarter. Bellwether Investment Group LLC acquired a new position in Alexion Pharmaceuticals during the second quarter worth about $172,000. Charlemagne Capital Ltd. acquired a new position in Alexion Pharmaceuticals during the second quarter worth about $191,000. Finally, Evercore Wealth Management LLC raised its position in Alexion Pharmaceuticals by 5.0% in the second quarter. Evercore Wealth Management LLC now owns 1,735 shares of the biopharmaceutical company’s stock worth $203,000 after buying an additional 83 shares in the last quarter. 96.34% of the stock is owned by hedge funds and other institutional investors.
About Alexion Pharmaceuticals
Alexion Pharmaceuticals, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of life-transforming therapeutic products. The Company operates through innovation, development and commercialization of life-transforming therapeutic products segment. The Company’s marketed products include Soliris (eculizumab), Strensiq (asfotase alfa) and Kanuma (sebelipase alfa).
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