Alexion Gears Up for Future in 3Q; Maintaining $170 FVE
We are maintaining our $170 fair value estimate for Alexion Pharmaceuticals following the company’s third-quarter results. Management narrowed top-line guidance to the high end of its original range thanks to strong underlying demand for Soliris but reduced full-year earnings guidance to reflect charges related to its restructuring plan. As previously announced, Alexion divested itself of several pipeline drugs and is closing a manufacturing plant to allow for more focused cost discipline and re...Alexion Pharmaceuticals is a biopharmaceutical company serving patients and families affected by rare diseases through the discovery, development and commercialization of therapies. The company has developed and commercialized two complement inhibitors to treat patients with paroxysmal nocturnal hemoglobinuria and atypical hemolytic uremic syndrome, as well as the complement inhibitor to treat anti-acetylcholine receptor antibody-positive generalized myasthenia gravis and neuromyelitis optica spectrum disorder in patients who are anti-aquaporin-4 antibody positive. In addition, the company has two enzyme replacement therapies for metabolic disorders, hypophosphatasia and lysosomal acid lipase deficiency.
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