Zacks Investment Research upgraded shares of Alexion Pharmaceuticals, Inc. (ALXN) from NEUTRAL to OUTPERFORM on March 14, 2013, with a target price of $110.00.
We are upgrading Alexion Pharmaceuticals Inc. to Outperform from Neutral following the impressive fourth quarter 2012 results released by the company. The company's adjusted earnings of $0.54 beat the Zacks Consensus Estimate by 7 cents per share on the back of strong Soliris sales. Fourth quarter 2012 earnings increased 50% from the year-ago period. Soliris continued to perform well with new patient additions in the PNH indication. The successful label expansion of Soliris into the aHUS indication boosted revenues further. Management expects net product sales to increase substantially from 2012 levels. We too expect Soliris to continue performing well in 2013. Consequently, we have increased our revenue estimate for 2013.
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