Alexion Pharmaceuticals, Inc. (ALXN) Position Boosted by Canada Pension Plan Investment Board
Canada Pension Plan Investment Board raised its position in shares of Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) by 35.9% during the second quarter, Holdings Channel reports. The fund owned 351,796 shares of the biopharmaceutical company’s stock after buying an additional 92,866 shares during the period. Canada Pension Plan Investment Board’s holdings in Alexion Pharmaceuticals were worth $42,803,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ALXN. BlackRock Inc. raised its position in Alexion Pharmaceuticals by 2,689.8% in the first quarter. BlackRock Inc. now owns 18,628,080 shares of the biopharmaceutical company’s stock worth $2,258,467,000 after buying an additional 17,960,356 shares during the last quarter. Jennison Associates LLC raised its position in Alexion Pharmaceuticals by 15.8% in the first quarter. Jennison Associates LLC now owns 9,622,914 shares of the biopharmaceutical company’s stock worth $1,166,682,000 after buying an additional 1,309,529 shares during the last quarter. Bank of Montreal Can raised its position in Alexion Pharmaceuticals by 628.8% in the second quarter. Bank of Montreal Can now owns 1,423,318 shares of the biopharmaceutical company’s stock worth $173,174,000 after buying an additional 1,228,025 shares during the last quarter. Bessemer Group Inc. raised its position in Alexion Pharmaceuticals by 1,949,640.5% in the second quarter. Bessemer Group Inc. now owns 721,404 shares of the biopharmaceutical company’s stock worth $87,772,000 after buying an additional 721,367 shares during the last quarter. Finally, State Street Corp raised its position in Alexion Pharmaceuticals by 6.8% in the first quarter. State Street Corp now owns 11,298,685 shares of the biopharmaceutical company’s stock worth $1,369,846,000 after buying an additional 718,756 shares during the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.
Shares of Alexion Pharmaceuticals, Inc. (ALXN) opened at 132.93 on Friday. Alexion Pharmaceuticals, Inc. has a 52 week low of $96.18 and a 52 week high of $145.42. The stock has a market capitalization of $29.67 billion, a P/E ratio of 57.65 and a beta of 1.41. The firm’s 50-day moving average price is $129.36 and its 200 day moving average price is $122.92.
Alexion Pharmaceuticals (NASDAQ:ALXN) last released its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.56 earnings per share (EPS) for the quarter, topping 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 business had revenue of $912 million for the quarter, compared to analyst estimates of $846.15 million. During the same period in the previous year, the company earned $1.13 earnings per share. The business’s revenue for the quarter was up 21.1% on a year-over-year basis. Analysts expect that Alexion Pharmaceuticals, Inc. will post $5.60 earnings per share for the current year.
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ALXN has been the subject of a number of recent analyst reports. Morgan Stanley raised Alexion Pharmaceuticals from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $101.08 to $138.00 in a research report on Thursday, May 25th. Barclays PLC reaffirmed an “overweight” rating and set a $155.00 price target on shares of Alexion Pharmaceuticals in a research report on Tuesday, May 9th. Cowen and Company reaffirmed an “outperform” rating and set a $180.00 price target on shares of Alexion Pharmaceuticals in a research report on Friday, April 28th. J P Morgan Chase & Co lowered Alexion Pharmaceuticals from an “overweight” rating to a “neutral” rating in a research report on Tuesday, May 23rd. Finally, Zacks Investment Research upgraded Alexion Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, April 18th. Five research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and three have issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $156.89.
In other news, Director Bros. Advisors Lp Baker purchased 1,348,955 shares of the business’s stock in a transaction on Wednesday, June 14th. The shares were acquired at an average cost of $116.32 per share, with a total value of $156,910,445.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ann M. Veneman sold 700 shares of Alexion Pharmaceuticals stock in a transaction on Monday, July 31st. The stock was sold at an average price of $137.74, for a total transaction of $96,418.00. Following the completion of the transaction, the director now directly owns 6,315 shares in the company, valued at $869,828.10. The disclosure for this sale can be found here. Insiders acquired 2,019,734 shares of company stock worth $235,606,846 over the last ninety days. Corporate insiders own 4.35% of the company’s stock.
Alexion Pharmaceuticals Company Profile
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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