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 $118.52.
Singh observed:
“We hosted Alexion’s CFO an investor lunch on 11/13 and came away with renewed vigor for our bull thesis: a company that is on a sales/earnings upgrade cycle coupled with ever-increasing pipeline and regulatory (approval) catalysts. Management presentation was thoughtful and engaged, while previous investor frustration seemed lacking. Some were puzzled why the stock was not doing better with all the good execution and newsflow over the last 3-4 Q’s. We believe that ALXN’s P&L momentum is now being accompanied by pipeline momentum and that this should translate to share price performance going forward. We stay bullish.”
According to TipRanks.com, Singh is a 3-star analyst with an average return of 3.0% and a 37.4% 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 $168.50, which is a 42.2% upside from current levels. In a report issued on October 31, 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.
