Alexion Pharmaceuticals (ALXN) Stock Rating Lowered by Zacks Investment Research
Alexion Pharmaceuticals (NASDAQ:ALXN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Alexion relies heavily on blockbuster Soliris for growth. Pricing is likely to impact sales. Pricing will impact sales by 3% of which two-thirds attributable to Soliris and one-third attributable to metabolics. Soliris will be impacted by the same in 2018 as well given the increased enrolment through 2017 as these patients will remain in extension studies until a regulatory decision for PNH (expected in the first half of 2019). Nevertheless, blockbuster drug Soliris continues to perform well. The FDA approval for the generalized myasthenia gravis indication has boosted sales further. The prospects of ALXN1210 looks good too given the positive data from the switch study and in treatment-naïve patients. Alexion submitted a BLA to the FDA for ALXN1210. The FDA has set an action date of Feb 18, 2019. Shares have outperformed the industry so far in 2018.”
Several other analysts also recently commented on ALXN. Credit Suisse Group raised their price objective on shares of Alexion Pharmaceuticals from $149.00 to $154.00 and gave the company an “outperform” rating in a research report on Tuesday, June 5th. BidaskClub upgraded shares of Alexion Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Friday, June 15th. ValuEngine downgraded shares of Alexion Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, June 26th. Evercore ISI restated an “outperform” rating and set a $158.00 price objective on shares of Alexion Pharmaceuticals in a research report on Thursday, July 26th. Finally, Jefferies Financial Group restated a “hold” rating and set a $123.00 price objective on shares of Alexion Pharmaceuticals in a research report on Friday, July 27th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $159.50.
Alexion Pharmaceuticals (NASDAQ:ALXN) last announced its quarterly earnings data on Thursday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.58. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $976.81 million. Alexion Pharmaceuticals had a negative net margin of 2.68% and a positive return on equity of 15.21%. The company’s revenue was up 14.5% on a year-over-year basis. During the same period last year, the firm earned $1.56 EPS. equities analysts forecast that Alexion Pharmaceuticals will post 6.45 EPS for the current fiscal year.
In related news, CFO Paul J. Clancy sold 5,241 shares of the firm’s stock in a transaction on Tuesday, July 10th. The shares were sold at an average price of $131.11, for a total transaction of $687,147.51. Following the completion of the transaction, the chief financial officer now directly owns 93,309 shares of the company’s stock, valued at $12,233,742.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.35% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of ALXN. Iridian Asset Management LLC CT grew its stake in Alexion Pharmaceuticals by 14,950.7% during the second quarter. Iridian Asset Management LLC CT now owns 1,496,192 shares of the biopharmaceutical company’s stock valued at $185,752,000 after acquiring an additional 1,486,251 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of Alexion Pharmaceuticals by 7,677.7% in the 2nd quarter. Advisors Asset Management Inc. now owns 1,155,454 shares of the biopharmaceutical company’s stock worth $2,288,000 after buying an additional 1,140,598 shares in the last quarter. Sound Shore Management Inc. CT purchased a new position in shares of Alexion Pharmaceuticals in the 2nd quarter worth $134,590,000. Swedbank purchased a new position in shares of Alexion Pharmaceuticals in the 2nd quarter worth $101,913,000. Finally, PointState Capital LP purchased a new position in shares of Alexion Pharmaceuticals in the 1st quarter worth $48,195,000. 93.02% of the stock is owned by institutional investors.
Alexion Pharmaceuticals Company Profile
Alexion Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes various therapeutic products. The company offers Soliris (eculizumab), a monoclonal antibody for the treatment of paroxysmal nocturnal hemoglobinuria (PNH), a genetic blood disorder; atypical hemolytic uremic syndrome (aHUS), a genetic disease; and generalized myasthenia gravis, a debilitating, complement-mediated neuromuscular disease.
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