Alexion Pharmaceuticals, Inc. (ALXN) Cut to “Hold” at Zacks Investment Research
Zacks Investment Research downgraded shares of Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) from a buy rating to a hold rating in a research report sent to investors on Monday morning.
According to Zacks, “Alexion’s blockbuster drug, Soliris, continues to perform well and the company is working to expand the drug's label. A potential label expansion of the drug for additional indications will boost revenues. Among new products, while Strensiq is doing well, the company redefined its strategy for Kanuma which earlier lagged expectations. In order to focus better in core areas, Alexion is de-prioritizing a few clinical programs and terminating its partnerships with Moderna Therapeutics, Blueprint Medicines and Arbutus Biopharma. With a new CFO, we expect investor focus on results from the realignment of the resources and Kanuma's performance. Shares of the company have outperformed the industry in the last six months. However, the company relies heavily on Soliris for growth while prcing will impact Strensiq revenues in the second half.”
Several other brokerages have also commented on ALXN. UBS AG reaffirmed a buy rating and issued a $142.00 price target (up previously from $140.00) on shares of Alexion Pharmaceuticals in a research note on Monday, June 26th. Morgan Stanley reiterated an overweight rating and issued a $153.00 price objective (up previously from $141.00) on shares of Alexion Pharmaceuticals in a report on Friday, July 28th. J P Morgan Chase & Co upgraded Alexion Pharmaceuticals from a neutral rating to an overweight rating and boosted their price objective for the company from $163.00 to $175.00 in a report on Tuesday, September 5th. Leerink Swann reiterated an outperform rating and issued a $182.00 price objective (up previously 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, SunTrust Banks, Inc. reiterated a buy rating and issued a $180.00 price objective (up previously from $170.00) 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 issued a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $154.56.
Shares of Alexion Pharmaceuticals (ALXN) opened at 143.79 on Monday. The firm has a 50-day moving average price of $141.07 and a 200-day moving average price of $126.14. Alexion Pharmaceuticals has a 1-year low of $96.18 and a 1-year high of $149.34. The stock has a market cap of $32.09 billion, a price-to-earnings ratio of 62.35 and a beta of 1.39.
Alexion Pharmaceuticals (NASDAQ:ALXN) last announced its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.48. Alexion Pharmaceuticals had a return on equity of 12.47% and a net margin of 15.31%. The business had revenue of $912.00 million for the quarter, compared to analyst estimates of $846.15 million. During the same quarter in the prior year, the company posted $1.13 EPS. The company’s quarterly revenue was up 21.1% on a year-over-year basis. Equities analysts forecast that Alexion Pharmaceuticals will post $5.60 EPS for the current year.
In other news, Director Ann M. Veneman sold 835 shares of the company’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $145.81, for a total transaction of $121,751.35. Following the completion of the transaction, the director now directly owns 5,480 shares of the company’s stock, valued at approximately $799,038.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Julie O’neill sold 11,160 shares of the company’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $140.00, for a total value of $1,562,400.00. Following the transaction, the executive vice president now directly owns 26,704 shares of the company’s stock, valued at $3,738,560. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,190 shares of company stock valued at $2,433,669. Insiders own 4.35% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Guardian Life Insurance Co. of America boosted its position in shares of Alexion Pharmaceuticals by 0.7% in the 1st quarter. Guardian Life Insurance Co. of America now owns 865 shares of the biopharmaceutical company’s stock valued at $105,000 after purchasing an additional 6 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of Alexion Pharmaceuticals in the 1st quarter valued at about $111,000. Fiduciary Trust Co. acquired a new stake in shares of Alexion Pharmaceuticals in the 2nd quarter valued at about $111,000. Huntington National Bank boosted its position in shares of Alexion Pharmaceuticals by 1,084.6% in the 2nd quarter. Huntington National Bank now owns 1,078 shares of the biopharmaceutical company’s stock valued at $131,000 after purchasing an additional 987 shares during the period. Finally, Penserra Capital Management LLC boosted its position in shares of Alexion Pharmaceuticals by 13.0% in the 2nd quarter. Penserra Capital Management LLC now owns 1,248 shares of the biopharmaceutical company’s stock valued at $151,000 after purchasing an additional 144 shares during the period. 94.25% of the stock is owned by hedge funds and other institutional investors.
Alexion Pharmaceuticals Company Profile
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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