Alexion Pharmaceuticals, Inc. (ALXN) Shares Gap Up After Analyst Upgrade

Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) gapped up before the market opened on Tuesday after Royal Bank Of Canada raised their price target on the stock to $166.00. The stock had previously closed at $129.09, but opened at $135.20. Alexion Pharmaceuticals shares last traded at $136.66, with a volume of 4,910,188 shares.

Other research analysts also recently issued reports about the company. J P Morgan Chase & Co upgraded Alexion Pharmaceuticals from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $163.00 to $175.00 in a report on Tuesday, September 5th. BMO Capital Markets restated an “outperform” rating and set a $173.00 price objective (up from $168.00) on shares of Alexion Pharmaceuticals in a report on Wednesday, September 13th. SunTrust Banks, Inc. restated a “buy” rating and set a $180.00 price objective (up from $170.00) on shares of Alexion Pharmaceuticals in a report on Wednesday, September 13th. Leerink Swann restated an “outperform” rating and set a $182.00 price objective (up from $170.00) on shares of Alexion Pharmaceuticals in a report on Wednesday, September 13th. They noted that the move was a valuation call. Finally, Deutsche Bank AG restated a “buy” rating and set a $158.00 price objective (up from $153.00) on shares of Alexion Pharmaceuticals in a report on Wednesday, September 13th. Six equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $154.51.

In related news, Director Ann M. Veneman sold 835 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $145.81, for a total value of $121,751.35. Following the completion of the sale, the director now owns 5,480 shares in the company, valued at $799,038.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Ann M. Veneman sold 700 shares of the firm’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $137.74, for a total transaction of $96,418.00. Following the completion of the sale, the director now owns 6,315 shares of the company’s stock, valued at approximately $869,828.10. The disclosure for this sale can be found here. Insiders have sold 17,190 shares of company stock valued at $2,433,669 in the last quarter. Insiders own 4.35% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Commerzbank Aktiengesellschaft FI lifted its position in Alexion Pharmaceuticals by 151.5% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 132,698 shares of the biopharmaceutical company’s stock valued at $16,145,000 after purchasing an additional 79,943 shares during the period. HPM Partners LLC lifted its position in Alexion Pharmaceuticals by 267.2% in the second quarter. HPM Partners LLC now owns 6,680 shares of the biopharmaceutical company’s stock valued at $656,000 after purchasing an additional 4,861 shares during the period. Principal Financial Group Inc. lifted its position in Alexion Pharmaceuticals by 1.2% in the second quarter. Principal Financial Group Inc. now owns 335,525 shares of the biopharmaceutical company’s stock valued at $40,823,000 after purchasing an additional 4,115 shares during the period. Ameriprise Financial Inc. lifted its position in Alexion Pharmaceuticals by 0.4% in the second quarter. Ameriprise Financial Inc. now owns 6,175,296 shares of the biopharmaceutical company’s stock valued at $751,363,000 after purchasing an additional 25,724 shares during the period. Finally, Calamos Advisors LLC lifted its position in Alexion Pharmaceuticals by 405.3% in the second quarter. Calamos Advisors LLC now owns 334,488 shares of the biopharmaceutical company’s stock valued at $40,697,000 after purchasing an additional 268,287 shares during the period. Hedge funds and other institutional investors own 94.15% of the company’s stock.

The stock has a market capitalization of $30.50 billion, a PE ratio of 59.26 and a beta of 1.39. The company’s 50 day moving average price is $141.93 and its 200 day moving average price is $128.26.

Alexion Pharmaceuticals (NASDAQ:ALXN) last announced its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.48. Alexion Pharmaceuticals had a net margin of 15.31% and a return on equity of 12.47%. The business had revenue of $912.00 million during the quarter, compared to the consensus estimate of $846.15 million. During the same quarter in the prior year, the firm earned $1.13 EPS. The company’s revenue for the quarter was up 21.1% compared to the same quarter last year. Analysts forecast that Alexion Pharmaceuticals, Inc. will post $5.60 EPS for the current year.

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About Alexion Pharmaceuticals

Alexion Pharmaceuticals, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of therapeutic products. The Company’s products include Soliris (eculizumab), Strensiq (asfotase alfa) and Kanuma (sebelipase alfa). The Company’s clinical development programs include Soliris (eculizumab), cPMP (ALXN1101), SBC-103, ALXN1210 (IV) and ALXN1210 (Subcutaneous).

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