UPDATE: Bank of America Raises PO to $130 on Alexion Pharmaceuticals on Soliris Data

Bank of America reiterated its Buy rating on Alexion Pharmaceuticals ALXN and raised its price objective from $118 to $130. Bank of America commented, "We are increasing our PO from $118 to $130 to reflect a higher probability of success for Soliris in neuromyelitis optica (NMO) following impressive Phase 2 data presented yesterday. We removed MG and the nondescript "other indications" for Soliris from our valuation, as current data suggests NMO may be the final large indication beyond PNH and aHUS (STEC and AMR incremental drivers)." Alexion Pharmaceuticals closed at $111.30 on Tuesday.