Alexion (ALXN) - Get Alexion Pharmaceuticals, Inc. Report shares rose more than 5% to $126.91 Thursday when the company reported first-quarter adjusted EPS of $1.38  that topped consensus of $1.24.

Total revenue was $870 million also exceeding analyst forecasts of $827.5 million.

Soliris sales of $783 million in the first quarter benefited from a one-time, $29 million change in revenue recognition but still came in higher than consensus. The company made no changes to its 2017 revenue but slightly increased adjusted earnings guidance to $5.10-$5.30 per share from $5.10-$5.25 per share.

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Leerink's Geoff Porges wrote, "We believe the stock will react positively to these quarterly results and updates, as they validate the continued underlying growth of Soliris and provide reassurance about management's commitments to execute on the development timelines for ALXN1210."

He noted that consensus estimates for Soliris are also likely to rise from these results, as full-year 2017 consensus of $3.074 billion is only $100 million (4%) above the annualized Q1 Soliris sales result after removing the one-time favorable adjustment.

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