Alexion Pharmaceuticals (ALXN) Rating Lowered to Sell at Zacks Investment Research
Alexion Pharmaceuticals (NASDAQ:ALXN) was downgraded by Zacks Investment Research 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.”
Several other research analysts also recently weighed in on the stock. SunTrust Banks set a $172.00 price objective on shares of Alexion Pharmaceuticals and gave the stock a “buy” rating in a report on Monday. BMO Capital Markets upped their price objective on shares of Alexion Pharmaceuticals from $177.00 to $180.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. Stifel Nicolaus restated a “buy” rating and set a $151.00 price objective on shares of Alexion Pharmaceuticals in a report on Friday, February 9th. Morgan Stanley upped their price objective on shares of Alexion Pharmaceuticals from $148.00 to $151.00 and gave the stock an “overweight” rating in a report on Friday, February 9th. Finally, Leerink Swann lowered their target price on shares of Alexion Pharmaceuticals from $166.00 to $153.00 and set an “outperform” rating for the company in a report on Friday, February 9th. 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 stock presently has a consensus rating of “Buy” and an average target price of $152.77.
Alexion Pharmaceuticals (NASDAQ:ALXN) last released its quarterly earnings data on Thursday, February 8th. The biopharmaceutical company reported $1.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.39. Alexion Pharmaceuticals had a net margin of 3.33% and a return on equity of 1.36%. The firm had revenue of $909.70 million for the quarter, compared to the consensus estimate of $880.38 million. During the same quarter in the prior year, the company posted $1.26 earnings per share. The business’s revenue was up 9.5% on a year-over-year basis. equities analysts forecast that Alexion Pharmaceuticals will post 5.87 EPS for the current year.
In related news, CFO Paul J. Clancy sold 6,079 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $116.31, for a total transaction of $707,048.49. Following the completion of the transaction, the chief financial officer now owns 95,093 shares in the company, valued at $11,060,266.83. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Ludwig Hantson sold 13,245 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $116.31, for a total transaction of $1,540,525.95. Following the transaction, the chief executive officer now owns 131,425 shares of the company’s stock, valued at approximately $15,286,041.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,930 shares of company stock valued at $3,378,199. 4.35% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Delpha Capital Management LLC bought a new position in Alexion Pharmaceuticals during the fourth quarter valued at about $102,000. Valeo Financial Advisors LLC bought a new position in Alexion Pharmaceuticals during the third quarter valued at about $147,000. Dupont Capital Management Corp bought a new position in Alexion Pharmaceuticals during the third quarter valued at about $156,000. BT Investment Management Ltd bought a new position in Alexion Pharmaceuticals during the third quarter valued at about $165,000. Finally, Beacon Investment Advisory Services Inc. bought a new position in Alexion Pharmaceuticals during the third quarter valued at about $201,000. Institutional investors own 94.01% of the company’s stock.
Alexion Pharmaceuticals Company Profile
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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