Market Overview

Alexion's New CFO Continues To Shore Up Investor Concerns

Alexion's New CFO Continues To Shore Up Investor Concerns

Alexion Pharmaceuticals, Inc. (NASDAQ: ALXN) announced Tuesday that Paul Clancy has been appointed to replace Dave Anderson as CFO, effective July 31.

Anderson will remain as a senior advisor through August to ensure a smooth transition.

“Paul is well-known among biotech investors, having spent the last 10 years as Biogen's CFO,” noted UBS analyst Martin Auster in a note.

The announcement is expected to lessen investor concerns over surprises lying in wait.

On Wednesday, shares were up 7.9 percent to $116.56.

The analyst continued to express confidence in the company, following his assertion in late-May that, due to high pessimism, even just the absence of negative headlines could serve as a catalyst.

Auster believes that growth drivers including Soliris gMG’s approval and ALXN1210 Phase 3 data can restore company value. Alexion will also need to reduce implied risk under recent regulatory headwinds.

The analyst maintained a Buy rating and $140 price target.

Morgan Stanley analyst Matthew Harrison recently upgraded the company to Overweight, citing new management and too-low investor sentiment.

Investors should look out for commentary from management on research and development and long-term strategy during the second quarter earnings call.

Related Links:

A Peek Into The Markets: U.S. Stock Futures Edge Higher; All Eyes On Fed Decision

Mid-Morning Market Update: Markets Mostly Flat; H & R Block Profit Tops Views

Latest Ratings for ALXN

Jun 2020Credit SuisseMaintainsOutperform
May 2020SVB LeerinkMaintainsOutperform
May 2020SunTrust Robinson HumphreyMaintainsBuy

View More Analyst Ratings for ALXN
View the Latest Analyst Ratings


Related Articles (ALXN)

View Comments and Join the Discussion!

Posted-In: Martin Auster Matthew Harrison Morgan Stanley UBSAnalyst Color Management Analyst Ratings Best of Benzinga

Latest Ratings

TYGB of A SecuritiesUpgrades
ZIONB of A SecuritiesMaintains39.0
RFB of A SecuritiesMaintains13.0
PNCB of A SecuritiesMaintains123.0
HBANB of A SecuritiesMaintains11.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
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.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
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