Zacks Investment Research cut shares of Alexion Pharmaceuticals (NASDAQ:ALXN) from a hold rating to a sell rating in a report released on Wednesday.
According to Zacks, “Alexion beat both earnings estimates and sales estimates in the fourth quarter. Alexion’s blockbuster drug, Soliris, continues to perform well and the FDA approval of the drug for generalized myasthenia gravis is likely to boost sales further. However, the company relies heavily on Soliris for growth and sales of the same will be impacted increased ALXN1210 trials. Pricing is also projected to hit revenues by 3% in 2018. Shares of the company have underperformed the industry over a year. Among new products, the company redefined its strategy for Kanuma as the drug lagged expectations. Meanwhile, in order to focus better in core areas, Alexion has de-prioritized a few clinical programs and terminated partnerships with Moderna Therapeutics, Blueprint Medicines and Arbutus Biopharma.”
Other analysts also recently issued reports about the company. Royal Bank of Canada increased their price objective on Alexion Pharmaceuticals to $166.00 in a report on Tuesday, October 24th. Stifel Nicolaus decreased their price objective on Alexion Pharmaceuticals from $165.00 to $159.00 and set a buy rating for the company in a report on Tuesday, October 24th. Credit Suisse Group restated a buy rating and issued a $166.00 price objective on shares of Alexion Pharmaceuticals in a report on Tuesday, December 12th. Leerink Swann restated a buy rating and issued a $169.00 price objective on shares of Alexion Pharmaceuticals in a report on Wednesday, December 6th. Finally, Citigroup decreased their price objective on Alexion Pharmaceuticals from $173.00 to $170.00 and set a buy rating for the company in a report on Friday, February 9th. Two analysts have rated the stock with a sell rating, one has given a hold rating and twenty-one have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $152.77.
Alexion Pharmaceuticals (NASDAQ:ALXN) last posted its quarterly earnings data on Thursday, February 8th. The biopharmaceutical company reported $1.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.39. The business had revenue of $909.70 million during the quarter, compared to the consensus estimate of $880.38 million. Alexion Pharmaceuticals had a return on equity of 12.94% and a net margin of 12.48%. Alexion Pharmaceuticals’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.26 earnings per share. equities analysts anticipate that Alexion Pharmaceuticals will post 6.12 EPS for the current fiscal year.
In other news, CFO Paul J. Clancy sold 6,079 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $116.31, for a total transaction of $707,048.49. Following the transaction, the chief financial officer now owns 95,093 shares of the company’s stock, valued at approximately $11,060,266.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Heidi L. Wagner sold 655 shares of the stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $117.26, for a total transaction of $76,805.30. Following the transaction, the senior vice president now directly owns 32,635 shares in the company, valued at approximately $3,826,780.10. The disclosure for this sale can be found here. Insiders have sold a total of 28,930 shares of company stock worth $3,378,199 in the last three months. Insiders own 4.35% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in ALXN. Jennison Associates LLC boosted its position in shares of Alexion Pharmaceuticals by 720.0% during the 3rd quarter. Jennison Associates LLC now owns 5,332,636 shares of the biopharmaceutical company’s stock worth $748,116,000 after purchasing an additional 4,682,336 shares in the last quarter. Amundi Pioneer Asset Management Inc. boosted its position in shares of Alexion Pharmaceuticals by 1,786.3% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 1,454,498 shares of the biopharmaceutical company’s stock worth $173,944,000 after purchasing an additional 1,377,388 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Alexion Pharmaceuticals by 4,509.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 884,150 shares of the biopharmaceutical company’s stock worth $124,037,000 after purchasing an additional 864,967 shares in the last quarter. Investec Asset Management LTD bought a new position in shares of Alexion Pharmaceuticals during the 4th quarter worth about $84,096,000. Finally, Alkeon Capital Management LLC bought a new position in shares of Alexion Pharmaceuticals during the 3rd quarter worth about $70,145,000. 94.01% of the stock is currently owned by 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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