Equities research analysts at Piper Jaffray assumed coverage on shares of Alexion Pharmaceuticals (NASDAQ:ALXN) in a research note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm set an “overweight” rating and a $172.00 price target on the stock. Piper Jaffray’s price target indicates a potential upside of 41.10% from the stock’s previous close.
The analysts wrote, “We are resuming coverage of ALXN with an Overweight rating with a $172 price target. While 2014 may be a sluggish pro-forma EPS growth year for the company as the NOL’s are finally depleted, revenue and GAAP EPS growth should remain robust as the AHUS global roll-out continues and the company continues to identify new PNH patients for Soliris. Additionally, the BLA filing for asfotase alfa and progress with the Phase III studies of Soliris for myasthenia gravis and neuromyelitis optica will provide relevant newsflow during the year. In our view, while ALXN has one of the highest forward P/E multiples among the group of profitable companies with a >$10B mkt cap and >20% EPS CAGR, it also has one of the highest revenue and EPS growth rates, one of the most sustainable growth profiles, an attractive/emerging pipeline, and a strong track record of beats/raises, justifying this premium.”
Alexion Pharmaceuticals (NASDAQ:ALXN) opened at 121.90 on Tuesday. Alexion Pharmaceuticals has a one year low of $81.82 and a one year high of $126.39. The stock has a 50-day moving average of $116.4 and a 200-day moving average of $108.2. The company has a market cap of $23.901 billion and a price-to-earnings ratio of 68.95.
Alexion Pharmaceuticals (NASDAQ:ALXN) last posted its earnings results on Thursday, October 24th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.04. The company had revenue of $400.40 million for the quarter, compared to the consensus estimate of $395.10 million. During the same quarter in the previous year, the company posted $0.60 earnings per share. The company’s revenue for the quarter was up 36.1% on a year-over-year basis. On average, analysts predict that Alexion Pharmaceuticals will post $3.05 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Zacks downgraded shares of Alexion Pharmaceuticals from an “outperform” rating to a “neutral” rating in a research note to investors on Friday, November 15th. They now have a $126.00 price target on the stock. Separately, analysts at Oppenheimer raised their price target on shares of Alexion Pharmaceuticals from $115.00 to $125.00 in a research note to investors on Friday, October 25th. Finally, analysts at Jefferies Group raised their price target on shares of Alexion Pharmaceuticals from $97.00 to $106.00 in a research note to investors on Friday, October 25th. They now have a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Alexion Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $124.00.
Alexion Pharmaceuticals, Inc (NASDAQ:ALXN) is a biopharmaceutical company focused on serving patients with severe and ultra-rare disorders through the development and commercialization of life-transforming therapeutic products.
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