Company

Bank

Analyst

Coverage

Opinion

Wk chg

4/27 cls

Alexion Pharmaceuticals Inc. (NASDAQ:ALXN)

Brean Murray

Jonathan Aschoff

Price target

Buy

-1%

$90.56

Jefferies

Eun Yang

Price target

Hold

ThinkEquity

Marko Kozul

Price target

Buy

Aschoff raised his target to $105 from $85 after Alexion reported 1Q12 EPS and revenues that beat the consensus estimates (see EPS Watch, A16). The biotech raised 2012 revenue guidance to $1.07-$1.08B from $1.04-$1.07B and non-GAAP EPS guidance to $1.65-$1.75 from $1.60-$1.70 Aschoff expects Alexion to be at the upper end of the new revenue guidance range and "would not be at all surprised" if it beat. Alexion markets Soliris eculizumab to treat paroxysmal nocturnal hemoglobinuria (PNH) and atypical hemolytic uremic syndrome (aHUS); both the rare blood disorders.

Yang raised her target to $76 from $68 on earnings.

Kozul raised his target to $95 from $90 on earnings.

Incyte Corp. (NASDAQ:INCY)

Brean Murray

Jonathan Aschoff

Price target

Buy

18%

$22.94

Aschoff raised his target to $28 from $23 after Incyte reported 1Q12 sales for myelofibrosis drug Jakafi ruxolitinib of $19.3M, beating his estimate of about $10M. Aschoff now projects $163M in Jakafi sales for 2012, noting that launch surveys show that doctors are "pleased with the rapid symptom improvement of patients" on the drug. Novartis AG (NYSE:NVS; SIX:NOVN) has exclusive ex-U.S. rights to Jakafi, which is under review in Europe.