Market Overview

Piper Jaffray Analyst Says Alexion Set for Gains; Stock Slides

Share:

In a report released Monday afternoon, Piper Jaffray analyst Ian Somaiya got bullish on Alexion Pharma (NASDAQ: ALXN), adding to his Overweight rating, saying that its a takeout target.

In the report, Somaiya bumped his price target on the firm up to $138 from $124, while saying the company could be worth between $148 and $208 in a potential acquisition.

Somaiya expects multiple bids on the company from large pharma names, which is expected to drive its price higher. The expectation for the bids centered around a forecast that the company could add over $1.5 billion in sales linked to its recent data release.

Despite the bullish report, Alexion shares have fallen 4.87 percent to $108.80.

Posted-In: Analyst Color News Price Target FDA Analyst Ratings

 

Related Articles (ALXN)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
TOLGoldman SachsInitiates Coverage On42.0
KBHGoldman SachsInitiates Coverage On36.0
YEXTSunTrust Robinson HumphreyMaintains28.0
LHCGSunTrust Robinson HumphreyMaintains160.0
DLRSunTrust Robinson HumphreyMaintains140.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

Mid-Afternoon Market Update: Canadian Solar Breaks Out; The ExOne Falls

Health Care ETFs Looking Healthy Ahead of Earnings