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Jul 30, 2012
 |  BioCentury  |  Analyst Picks & Changes

Analyst picks & changes

Analyst picks & changes

Company Bank Analyst Coverage Opinion Wk chg 7/27 cls
Alexion Pharmaceuticals Inc. (NASDAQ:ALXN) Deutsche Bank Robyn Karnauskas Price target Buy 10% $108.97
Jefferies Eun Yang Price target Hold
Leerink Howard Liang Price target Outperform
Stifel, Nicolaus Stephen Willey Price target Buy
Karnauskas raised her target to $112 from $100 after Alexion beat the Street's 2Q12 EPS and revenue estimates and raised its non-GAAP EPS and revenue guidances (see "EPS Watch," A19). Karnauskas now believes the paroxysmal nocturnal hemoglobinuria (PNH) opportunity for Solris eculizumab is larger based on better uptake in emerging markets and Alexion's "consistent ability" to find new patients through increasing awareness of PHN. She raised her peak Soliris PNH revenue estimates to $1.9B from $1.6B in 2018. Soliris is marketed for PNH and atypical hemolytic uremic syndrome (aHUS); both rare blood disorders.
Yang raised her target to $88 from $76 on earnings. She raised her 2012 Soliris sales estimates based on the "better-than-expected" 2Q results to $1.13B from $1.09B. Yang also raised her 2013 GAAP EPS estimate to $2.09 from $1.87 and her 2013 revenue estimate to $1.5B from $1.4B.
Liang raised his target to $125 from $96 on earnings, noting that the strong quarter suggests a new growth trajectory for Soliris. Liang raised his 2012 revenue estimate to $1.13B from $1.08B, and his 2012 EPS estimate to $1.90 from $1.75.
Willey raised his target to $125 from $97 on earnings. He raised his 2013 non-GAAP EPS estimate to $2.99 from $2.77 and his 2013 sales estimate to $1.58B from $1.47B. He now models peak Soliris sales of $3B for PNH and $1.5B...

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