Shares of Alexion Pharmaceuticals (ALXN) - Get Alexion Pharmaceuticals, Inc. Report jumped Wednesday after the rare disease drugmaker blew past analysts' earnings estimates with a strong third quarter.
Alexion's stock price rose 6.22% to $105.46 after the Boston-based drug development company reported non-GAAP earnings per share of $2.79 for the third quarter. That was well above the $2.49-a-share estimate of analysts surveyed by Zacks Investment Research and a 38% increase from the third quarter of 2018.
Third-quarter revenue surged as well, hitting $1.263 billion after rising 23% from the same quarter last year, the company said.
Sales of Soliris, the Boston-based pharma company's treatment for a rare blood disorder, rose 12% in the third quarter to $990.5 million, up from $880 million during the same period last year.
"We have delivered another record performance in the third quarter, building on our momentum from the first half of 2019," said CEO Ludwig Hantson in a press statement.
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