After Credit Suisse and RBC Capital gave Alexion Pharmaceuticals (NASDAQ: ALXN) a Buy rating last month, the company received another Buy, this time from Oppenheimer. Analyst Hartaj Singh maintained a Buy rating on Alexion Pharmaceuticals yesterday and set a price target of $165. The company’s shares closed yesterday at $119.
Singh said:
“We hosted an expert call on paroxysmal nocturnal hemoglobinuria (PNH) on 11/26, focused on current standard of care (SOC) Soliris (eculizumab) and likely soon-to- be-approved (PDUFA 02/18/19) Ultomiris (ravulizumab). Our expert currently treats ~18 patients with PNH in the Southwest and is quite familiar with Soliris. He believes the clinical utility of Ultomiris (key slides from EHA 2018 late breaker below) is very high based on its risk/benefit and its 6- to 8-week dosing frequency (10- to 30-days for Soliris). The ability of Ultomiris to reduce breakthrough hemolysis and thrombosis events, coupled with a safety profile that looks like Soliris, would make him switch 90% to 100% of his total patients onto Ultomiris after launch. We stay bullish on ALXN.”
According to TipRanks.com, Singh is a 3-star analyst with an average return of 0.8% and a 36.9% success rate. Singh covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, Strongbridge Biopharma Plc, and Syndax Pharmaceuticals Inc.
Alexion Pharmaceuticals has an analyst consensus of Strong Buy, with a price target consensus of $165.15, representing a 38.8% upside. In a report issued on November 13, Credit Suisse also maintained a Buy rating on the stock with a $156 price target.
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The company has a one-year high of $140.77 and a one-year low of $102.10. Currently, Alexion Pharmaceuticals has an average volume of 1.5M.
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Alexion Pharmaceuticals, Inc. is a biopharmaceutical company, which focuses on serving patients with devastating and ultra-rare disorders through the development and commercialization of life-transforming therapeutic products. Its products include soliris, strensiq and kanuma.
