Alexion Pharmaceuticals, Inc. (ALXN) Shares Bought by Palo Alto Investors LLC
Palo Alto Investors LLC increased its position in Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) by 0.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,030,942 shares of the biopharmaceutical company’s stock after purchasing an additional 3,882 shares during the quarter. Alexion Pharmaceuticals accounts for 5.9% of Palo Alto Investors LLC’s portfolio, making the stock its 5th largest position. Palo Alto Investors LLC owned 0.46% of Alexion Pharmaceuticals worth $125,435,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in ALXN. Russell Investments Group Ltd. boosted its stake in shares of Alexion Pharmaceuticals by 19.1% in the first quarter. Russell Investments Group Ltd. now owns 29,150 shares of the biopharmaceutical company’s stock valued at $3,535,000 after purchasing an additional 4,665 shares during the period. Nordea Investment Management AB boosted its stake in Alexion Pharmaceuticals by 16.2% during the 1st quarter. Nordea Investment Management AB now owns 11,448 shares of the biopharmaceutical company’s stock valued at $1,388,000 after acquiring an additional 1,598 shares during the last quarter. Neuberger Berman Group LLC boosted its stake in Alexion Pharmaceuticals by 29.9% during the 1st quarter. Neuberger Berman Group LLC now owns 6,189 shares of the biopharmaceutical company’s stock valued at $750,000 after acquiring an additional 1,423 shares during the last quarter. River & Mercantile Asset Management LLP bought a new position in Alexion Pharmaceuticals during the 1st quarter valued at $694,000. Finally, LMR Partners LLP bought a new position in Alexion Pharmaceuticals during the 1st quarter valued at $927,000. Institutional investors and hedge funds own 94.25% of the company’s stock.
Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) traded up 1.19% during mid-day trading on Thursday, hitting $143.62. 422,604 shares of the company were exchanged. Alexion Pharmaceuticals, Inc. has a 12-month low of $96.18 and a 12-month high of $149.34. The stock’s 50 day moving average is $140.86 and its 200-day moving average is $126.01. The company has a market cap of $32.05 billion, a price-to-earnings ratio of 62.28 and a beta of 1.39.
Alexion Pharmaceuticals (NASDAQ:ALXN) last issued its earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.48. Alexion Pharmaceuticals had a net margin of 15.31% and a return on equity of 12.47%. The company had revenue of $912.00 million for the quarter, compared to the consensus estimate of $846.15 million. During the same quarter in the previous year, the company earned $1.13 EPS. The firm’s revenue for the quarter was up 21.1% compared to the same quarter last year. Equities research analysts predict that Alexion Pharmaceuticals, Inc. will post $5.60 EPS for the current year.
In related news, Director Ann M. Veneman sold 835 shares of Alexion Pharmaceuticals stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $145.81, for a total value of $121,751.35. Following the completion of the transaction, the director now directly owns 5,480 shares of the company’s stock, valued at $799,038.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Julie O’neill sold 11,160 shares of Alexion Pharmaceuticals stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $140.00, for a total value of $1,562,400.00. Following the completion of the transaction, the executive vice president now directly owns 26,704 shares of the company’s stock, valued at $3,738,560. The disclosure for this sale can be found here. Insiders sold 17,190 shares of company stock valued at $2,433,669 over the last ninety days. 4.35% of the stock is currently owned by company insiders.
ALXN has been the topic of a number of research analyst reports. Cowen and Company reiterated an “outperform” rating and set a $122.00 price objective on shares of Alexion Pharmaceuticals in a research note on Monday, July 3rd. SunTrust Banks, Inc. reiterated a “buy” rating and set a $165.00 price objective on shares of Alexion Pharmaceuticals in a research note on Friday, July 14th. Morgan Stanley reiterated an “overweight” rating and set a $153.00 price objective (up from $141.00) on shares of Alexion Pharmaceuticals in a research note on Friday, July 28th. Leerink Swann increased their price objective on shares of Alexion Pharmaceuticals from $136.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, July 28th. Finally, Credit Suisse Group set a $164.00 price objective on shares of Alexion Pharmaceuticals and gave the company a “buy” rating in a research note on Wednesday, June 14th. Six investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $154.56.
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About Alexion Pharmaceuticals
Alexion Pharmaceuticals, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of therapeutic products. The Company’s products include Soliris (eculizumab), Strensiq (asfotase alfa) and Kanuma (sebelipase alfa). The Company’s clinical development programs include Soliris (eculizumab), cPMP (ALXN1101), SBC-103, ALXN1210 (IV) and ALXN1210 (Subcutaneous).
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