Alexion Pharmaceuticals (ALXN) Downgraded to Hold at Zacks Investment Research

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Alexion Pharmaceuticals (NASDAQ:ALXN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday, Zacks.com reports.

According to Zacks, “Alexion's blockbuster drug, Soliris, continues to perform well. The label expansion of the drug for the generalized myasthenia gravis indication boosted sales significantly. The FDA recently approved Alexion’s long-acting C5 complement inhibitor, Ultomiris, for the treatment of adults with PNH, which has strengthened its PNH franchise. The initial uptake of the drug is encouraging. Meanwhile, Strensiq and Kanuma are doing well. Alexion has been quite active on the acquisition front in a bid to diversify its portfolio and reduce dependence on Soliris. The company acquired Wilson Therapeutics and Syntimmune in 2018 to strengthen and diversify its pipeline. Shares have outperformed the industry in the year so far. However, pricing is likely to impact sales. Moreover, the company relies heavily on Soliris for growth. Pipeline setbacks are also a concern.”

Several other research analysts have also recently weighed in on the company. Cowen reiterated a “buy” rating and set a $165.00 price target on shares of Alexion Pharmaceuticals in a research report on Wednesday, March 13th. Raymond James lifted their price target on Alexion Pharmaceuticals from $161.00 to $164.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Morgan Stanley lifted their price target on Alexion Pharmaceuticals from $165.00 to $175.00 and gave the company an “overweight” rating in a research report on Tuesday, February 12th. Guggenheim restated a “neutral” rating and issued a $135.00 price objective on shares of Alexion Pharmaceuticals in a research report on Thursday, March 21st. Finally, BidaskClub upgraded Alexion Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 1st. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $161.06.

ALXN stock traded up $2.53 during trading on Friday, hitting $127.86. 29,616 shares of the company traded hands, compared to its average volume of 1,495,420. The company has a current ratio of 3.87, a quick ratio of 3.36 and a debt-to-equity ratio of 0.25. The stock has a market cap of $28.88 billion, a P/E ratio of 18.08, a P/E/G ratio of 1.01 and a beta of 1.53. Alexion Pharmaceuticals has a 1 year low of $92.56 and a 1 year high of $141.86.

Alexion Pharmaceuticals (NASDAQ:ALXN) last announced its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported $2.39 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.40. The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Alexion Pharmaceuticals had a return on equity of 19.53% and a net margin of 9.59%. Alexion Pharmaceuticals’s quarterly revenue was up 22.5% on a year-over-year basis. During the same period last year, the business earned $1.68 earnings per share. On average, research analysts predict that Alexion Pharmaceuticals will post 8.6 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of ALXN. Investors Research Corp acquired a new stake in shares of Alexion Pharmaceuticals in the first quarter worth approximately $27,000. Captrust Financial Advisors acquired a new stake in shares of Alexion Pharmaceuticals in the fourth quarter worth approximately $31,000. Berman Capital Advisors LLC boosted its stake in shares of Alexion Pharmaceuticals by 68.6% in the first quarter. Berman Capital Advisors LLC now owns 322 shares of the biopharmaceutical company’s stock worth $42,000 after acquiring an additional 131 shares during the last quarter. Institutional & Family Asset Management LLC boosted its stake in shares of Alexion Pharmaceuticals by 39.5% in the first quarter. Institutional & Family Asset Management LLC now owns 307 shares of the biopharmaceutical company’s stock worth $42,000 after acquiring an additional 87 shares during the last quarter. Finally, NuWave Investment Management LLC boosted its stake in Alexion Pharmaceuticals by 851.9% during the fourth quarter. NuWave Investment Management LLC now owns 514 shares of the biopharmaceutical company’s stock worth $50,000 after buying an additional 460 shares during the last quarter. 97.89% of the stock is currently owned by hedge funds and other institutional investors.

About Alexion Pharmaceuticals

Alexion Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes various therapeutic products. The company offers ULTOMIRIS (ALXN1210/ravulizumab-cwvz), a monoclonal antibody for the treatment of paroxysmal nocturnal hemoglobinuria (PNH), a genetic blood disorder; and Soliris (eculizumab), a monoclonal antibody for the treatment of PNH, atypical hemolytic uremic syndrome (aHUS), and generalized myasthenia gravis.

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