A key reason for this move has been the positive trend in the earnings estimate revisions picture. For ALXN’s full year estimate, we have seen 5 estimates go higher in the past 30 days, compared to none lower. This trend has helped the consensus estimate to trend higher, going from $3.11 a share a month ago to its current level at $3.50.
This positive shift in estimates has made some investors take notice and buy the stock. In fact, ALXN has seen some pretty solid trading lately, as the company has moved higher by 12.5% in the past month.
If Alexion can keep up this great momentum on the earnings estimate front and continue to impress analysts, we could see more gains ahead for this company, suggesting that you might want to put ALXN on your watch list for the future.
Other top-ranked stocks worth considering in this space include Biogen Idec Inc. (BIIB), Actelion Ltd. (ALIOF) and Alnylam Pharmaceuticals, Inc. (ALNY). While Biogen carries a Zacks Rank #1 (Strong Buy), Actelion and Alnylam carries a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Be the first to comment