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UPDATE: Piper Jaffray Initiates Coverage on Alexion Pharmaceuticals as 2014 Biotech Sector Outlook Remains Strong

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In a report published Wednesday, Piper Jaffray analyst Joshua E. Schimmer initiated coverage on Alexion Pharmaceuticals (NASDAQ: ALXN) with an Overweight rating and $172.00 price target.

In the report, Piper Jaffray noted, “We are initiating, resuming or assuming coverage on 16 biotechnology companies. We believe the outlook for the biotech sector in 2014 remains strong, although the tape may be somewhat choppy as the average large-cap biotech growth stock multiple is now above that of growth stocks in other sectors. However, with long product cycles, attractive pipeline assets not reflected in valuations, new clinical data and commercial catalysts and potential for further increases to consensus, we believe biotech will still deliver attractive returns to investors. Our top large-cap picks are GILD, AMGN and ALXN. Our top small/mid cap picks are GWPH, NKTR, CMRX, INSM, VNDA and RPRX.”

Alexion Pharmaceuticals closed on Tuesday at $121.90.

Latest Ratings for ALXN

Jun 2018Credit SuisseMaintainsOutperformOutperform
Apr 2018CitigroupMaintainsBuyBuy
Apr 2018Stifel NicolausMaintainsBuyBuy

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Posted-In: Joshua E. Schimmer Piper JaffrayAnalyst Color Initiation Analyst Ratings


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