Market Overview

Oppenheimer Stays Bullish On Alexion Pharma

Share:
Oppenheimer Stays Bullish On Alexion Pharma
Related ALXN
30 Stocks Moving In Wednesday's Mid-Day Session
10 Biggest Price Target Changes For Tuesday
Marker Therapeutics: A Safer And Potentially More Effective CAR-T Alternative (Seeking Alpha)

Alexion Pharmaceuticals, Inc. (NASDAQ: ALXN) will report fourth-quarter earnings in late January, according to Oppenheimer. 

The Analyst

Oppenheimer's Hartaj Singh maintains an Outperform on Alexion Pharmaceuticals with a $115 price target. 

The Thesis

Alexion Pharmaceuticals is set up for better than consensus 2018 revenue and for non-GAAP EPS outperformance, Singh said. (See the analyst's track record here.) 

Oppenheimer is optimistic and projects the drug Soliris will outperform the  consensus by 400 bps due to strong fundamentals, macro/FX tailwinds and g/rMG launch, but also due to continuous OPEX rationalization, Singh said. The analyst is bullish despite risks regarding biosimilars, branded competition and a thin pipeline.

U.S. dollar weakness is going to manifest itself as a tailwind for the company as early as Q4 earnings, the analyst said. Alexion has historically been valued as a one-product company, and biosimilar risk is an existential threat, Singh said. A Phase 3 pivotal trial of ALXN1210 PNH/aHUS, a potential treatment for paroxysmal nocturnal hemoglobinuria, is a possible catalyst, according to Oppenheimer. 

The Price Action

Alexion closed Wednesday up 2.27 percent at $118.35. The stock is 3.6 percent lower year-to-date.

Related Links:

Oppenheimer Serves Up 29 Top Stock Ideas For January

What To Make of Alexion's New FDA Approval

Latest Ratings for ALXN

DateFirmActionFromTo
Oct 2018Morgan StanleyMaintainsOverweightOverweight
Sep 2018CitigroupMaintainsBuyBuy
Sep 2018Stifel NicolausMaintainsHoldHold

View More Analyst Ratings for ALXN
View the Latest Analyst Ratings

Posted-In: Hartaj Singh OppenheimerAnalyst Color Biotech Price Target Reiteration Analyst Ratings General Best of Benzinga

 

Related Articles (ALXN)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
NKEOppenheimerUpgrades0.0
SBEvercore ISI GroupUpgrades4.5
PTIRBC CapitalUpgrades0.0
GPSJP MorganDowngrades24.0
GIIIB. Riley FBRUpgrades47.0
View the Latest Analytics Ratings
Don't Miss Out!
Join Our Newsletter
Subscribe to:
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.
Fintech Focus
Your weekly roundup of hot topics in the exciting world of fintech.
Thank You
for registering for Benzinga’s newsletters and alerts.
• The Daily Analysts Ratings email will be received daily between 7am and 10am.
• The Market in 5 Minutes email will be received daily between 7am and 8am.
• The Fintech Focus email will be received every Friday between 2pm and 5pm.

5 Stocks Moving In Wednesday's After-Hours Session

Overstock, Roku Among Top Stocks In Short-Seller Circles