Market Overview

Upside Surprises More Likely Than Downside for Alexion Pharmaceuticals, Says Credit Suisse

Upside Surprises More Likely Than Downside for Alexion Pharmaceuticals, Says Credit Suisse
Related ALXN
AbbVie Shares Double In A Year; Leerink Moves To Sidelines
The Key To Alexion's Long-Term Upside Potential, According To Credit Suisse

Alexion Pharmaceuticals, Inc. (NASDAQ: ALXN) shares have plummeted 35 percent year-to-date. Credit Suisse’s Alethia Young upgraded the rating on the company from Neutral to Outperform, while reducing the price target from $186 to $165.

Following the pullback, Alexion Pharma’s shares now reflect biosimilar and competition risk, while the company has various pipeline products that could lend upside, analyst Alethia Young commented. She added that the stock appeared to have “more potential for upside surprises than downside surprise” at the current level, with ~60 percent upside versus ~20 percent downside.

Soliris Estimates

“Expectations around Soliris growth long-term growth have pulled back significantly over 1H16. With a potential 1210 (next-gen Soliris) approval in 2018, we thought that it was reasonable to separate our Soliris estimates from our 1210 estimate,” Young wrote.

Related Link: Chardan Analysts Initiate Coverage On Akari Therapeutic

The new Soliris+1210 estimate for 2020 is at $3.9B, below consensus expectation of $4.3B, with the gap possibly arising from “our probability adjustment of 1210,” the analyst noted.

Kanuma Estimates

The 2020 estimate for Kanuma has been reduced from $581M to $249M, versus the consensus expectation of $490M, which has resulted in the downward revision of the price target.

Did you like this article? Could it have been improved? Please email to let us know!

Latest Ratings for ALXN

Feb 2018BMO CapitalMaintainsOutperformOutperform
Feb 2018Morgan StanleyMaintainsOverweightOverweight
Feb 2018Leerink SwannMaintainsOutperformOutperform

View More Analyst Ratings for ALXN
View the Latest Analyst Ratings

Posted-In: Analyst Color Biotech Long Ideas Upgrades Health Care Price Target Analyst Ratings Trading Ideas Best of Benzinga


Related Articles (ALXN)

View Comments and Join the Discussion!