Market Overview

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

Share:
Related ALXN
Benzinga's Daily Biotech Pulse: Biomarin Gets FDA Nod, Amarin Settles with Teva, Merck's Cancer Drug Review Extended
Benzinga's Insider Buys Of The Week: Alexion Pharmaceuticals, Sohu.com And More
Your Daily Pharma Scoop: Anika Fails Trial, Kala's Upcoming Catalyst, Sarepta Surges (Seeking Alpha)

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

DateFirmActionFromTo
Jun 2018Credit SuisseMaintainsOutperformOutperform
Apr 2018CitigroupMaintainsBuyBuy
Apr 2018Stifel NicolausMaintainsBuyBuy

View More Analyst Ratings for ALXN
View the Latest Analyst Ratings

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

 

Related Articles (ALXN)

View Comments and Join the Discussion!