In a report released today, Hartaj Singh from Oppenheimer maintained a Buy rating on Alexion Pharmaceuticals (ALXN), with a price target of $165. The company’s shares closed yesterday at $131.66.
Singh observed:
“Alexion (ALXN) presented a comprehensive pipeline update at its Investor Day on 03/20. Perhaps the biggest pushback we have gotten from investors on our upgrade thesis from 20 months ago is that ALXN is a “one-trick pony,” i.e., Soliris and Soliris extensions. The company has been extensively rebuilding its pipeline over the last two years (as new management came onboard in 1H17). While 2019 guidance (see 4Q18 call) suggests ~31% sales growth 2017-19E and 57% adjusted earnings growth, ALXN’s ability to achieve peer-leading sales/earnings growth targets while diversifying its pipeline gives us greater conviction on our thesis. We stay bullish.”
According to TipRanks.com, Singh is a 3-star analyst with an average return of 3.2% and a 46.8% success rate. Singh covers the Healthcare sector, focusing on stocks such as Strongbridge Biopharma Plc, Catabasis Pharmaceuticals, and Actinium Pharmaceuticals.
Currently, the analyst consensus on Alexion Pharmaceuticals is a Strong Buy with an average price target of $161.67, which is a 22.8% upside from current levels. In a report issued on March 13, Cowen & Co. also maintained a Buy rating on the stock with a $165 price target.
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Alexion Pharmaceuticals’ market cap is currently $29.43B and has a P/E ratio of 398.49. The company has a Price to Book ratio of 3.21.
Based on the recent corporate insider activity of 43 insiders, corporate insider sentiment is negative on the stock.
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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 ultomiris, soliris, strensiq and kanuma. The company was founded by Joseph A. Madri, David W. Keiser, Stephen P.
