Alexion Pharmaceuticals Buy-Rated By Deutsche Bank

On October 20th, Alexion Pharmaceuticals, Inc.

announced positive data in a new indication for Soliris – aHUS, Deutsche Bank reports. “This is a rare disease in which the body attacks its own kidney,” Deutsche Bank writes. “Soliris reduced the need for plasma therapy, but also improved/stabilized kidney fxn. Our deep-dive into aHUS (p23-54) suggests the final data in aHUS (on Nov. 19th/20th at the American Society of Nephrology in plasma resistant & early ‘12 for plasma sensitive patients) will be clinically meaningful.” Deutsche Bank has initiated a Buy rating, adding, “Our YE11 target price of $79/share is based on a DCF analysis which assumes 100% approvability of Soliris in aHUS & 60% success in transplant. Downside risks include failure in aHUS, FDA rejection in aHUS, and poor Soliris sales.” Alexion currently trades at $67.61.