Zacks Investment Research lowered shares of Alexion Pharmaceuticals (NASDAQ:ALXN) from a hold rating to a sell rating in a research note issued to investors 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.”
ALXN has been the topic of several other reports. TheStreet downgraded shares of Alexion Pharmaceuticals from a b- rating to a c+ rating in a research note on Friday, November 10th. BidaskClub raised shares of Alexion Pharmaceuticals from a strong sell rating to a sell rating in a research note on Wednesday, December 27th. Morgan Stanley lifted their target price on shares of Alexion Pharmaceuticals from $148.00 to $151.00 and gave the stock an overweight rating in a research note on Friday, February 9th. Credit Suisse Group reaffirmed a buy rating and issued a $166.00 target price on shares of Alexion Pharmaceuticals in a research note on Tuesday, December 12th. Finally, Raymond James Financial reaffirmed an outperform rating and issued a $130.00 target price (down from $178.00) on shares of Alexion Pharmaceuticals in a research note on Thursday, January 4th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and twenty-one have assigned a buy rating to the company. The company has a consensus rating of Buy and an average target price of $152.77.
Alexion Pharmaceuticals (NASDAQ:ALXN) last issued its earnings results on Thursday, February 8th. The biopharmaceutical company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.09 by $0.39. Alexion Pharmaceuticals had a net margin of 12.48% and a return on equity of 12.94%. The company had revenue of $909.70 million for the quarter, compared to the consensus estimate of $880.38 million. During the same period in the previous year, the firm earned $1.26 earnings per share. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. analysts anticipate that Alexion Pharmaceuticals will post 6.13 EPS for the current year.
In other news, CEO Ludwig Hantson sold 2,553 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $121.63, for a total transaction of $310,521.39. Following the sale, the chief executive officer now owns 36,172 shares in the company, valued at approximately $4,399,600.36. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Heidi L. Wagner sold 1,774 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $116.31, for a total transaction of $206,333.94. Following the sale, the senior vice president now owns 47,212 shares in the company, valued at approximately $5,491,227.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,930 shares of company stock worth $3,378,199. Company insiders own 4.35% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Delpha Capital Management LLC bought a new stake in shares of Alexion Pharmaceuticals during the 4th quarter valued at $102,000. Valeo Financial Advisors LLC bought a new position in Alexion Pharmaceuticals in the 3rd quarter worth about $147,000. Dupont Capital Management Corp bought a new position in Alexion Pharmaceuticals in the 3rd quarter worth about $156,000. BT Investment Management Ltd bought a new position in Alexion Pharmaceuticals in the 3rd quarter worth about $165,000. Finally, Beacon Investment Advisory Services Inc. bought a new position in Alexion Pharmaceuticals in the 3rd quarter worth about $201,000. Hedge funds and other institutional investors own 94.01% of the company’s stock.
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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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