Shares of Alexion Pharmaceuticals, Inc.
The stock recuperated before the market opened on Thursday and is now relatively flat in relation to Wednesday’s closing price. Likely helping the stock was a report JPMorgan published during the night, where it reiterated an Overweight rating on shares of Alexion, arguing that their long-term thesis remains intact.
The firm’s experts had the chance to speak with the company and concluded that the delay in the filing does not impact on the company’s current commercial supply, or on its ability to serve its patients, or on its clinical development plans with Soliris. In addition, analysts Anupam Rama, Eric W. Joseph and Yuko Oku noted, as far as they know, the company will not need to update its financial results.
A Look Ahead
Looking forward, they believe that the update on the 10-Q filing and the fact that M&A speculation did not materialize “may cause near-term volatility in Alexion shares. Having said this, they continued, their long-term Overweight thesis remains intact. Indeed, they think “the Street is underestimating key Alexion defense points for their complement franchise, in particular ALXN1210as an important basis for a long-term durability of the business.”
At last check,
|Nov 2016||Deutsche Bank||Initiates Coverage On||Buy|
|Oct 2016||FBR Capital||Upgrades||Underperform||Market Perform|
|Oct 2016||Brean Capital||Assumes||Buy|
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