Oppenheimer Gives a Buy Rating to Alexion Pharmaceuticals


Oppenheimer analyst Hartaj Singh assigned a Buy rating to Alexion Pharmaceuticals (NASDAQ: ALXN) today and set a price target of $165. The company’s shares opened today at $135.65.

Singh observed:

“Alexion (ALXN) is one of our top large-cap picks as it rebounds from a dire 2016/17, with business and management turmoil translating into significant downward pressure on its share price and growth multiples. Currently we sit at the top end of 2018E consensus and are close to the top for 2019E. We argue that while we have high conviction in our consensus-leading 2018E numbers, we might be too conservative for 2019E. Stress-testing our assumptions (see below) leads us to believe that there is a better than even chance that ALXN could deliver >$10/share in non-GAAP earnings in 2019E. With the company trading at the bottom decile of historical valuation, an accelerating earnings trajectory could re-rate ALXN significantly. We stay bullish.”

According to TipRanks.com, Singh is a 4-star analyst with an average return of 14.2% and a 54.0% success rate. Singh covers the Healthcare sector, focusing on stocks such as Syndax Pharmaceuticals Inc, Strongbridge Biopharma Plc, and Catabasis Pharmaceuticals.

Alexion Pharmaceuticals has an analyst consensus of Strong Buy, with a price target consensus of $156.

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Based on Alexion Pharmaceuticals’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $944 million and net profit of $249 million. In comparison, last year the company earned revenue of $893 million and had a net profit of $165 million.

Based on the recent corporate insider activity of 54 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 soliris, strensiq and kanuma.

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