Alexion Pharmaceuticals (ALXN) Stock Gets ‘Outperform’ Rating at RBC Capital
NEW YORK (TheStreet) -- Shares of Alexion Pharmaceuticals (ALXN) - Get Report are down by 1.47% to $123.51 in mid-afternoon trading on Wednesday, as the stock was initiated with an "outperform" rating at RBC Captial earlier today. The firm has a $188 price target on the stock.
The coverage comes as the firm expects Alexion "to continue to dominate the rare disease space."
The Cheshire, CT-based pharmaceutical company entered the rare disease sector in 2007 with Soliris in PNH (paroxysmal nocturnal hemoglobinuria), added aHUS (atypical hemolytic uremic syndrome) in 2014, and reported $2.6 billion in worldwide sales last year, according to the analyst note.
"Alexion's rare disease foothold expanded with Soliris' second approval, with two more approvals coming through acquisitions, placing it among the few profitable biotechs with multiple approved drugs," RBC said.
Additionally, competitors to the Soliris franchise are unlikely, considering "the small patient numbers, pricing insularity, and Alexion's access to and knowledge of the patients," the firm noted.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
We rate ALEXION PHARMACEUTICALS INC as a Hold with a ratings score of C. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, disappointing return on equity and feeble growth in the company's earnings per share.
You can view the full analysis from the report here: ALXN
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