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Fly News Breaks for May 7, 2015
ALXN
May 7, 2015 | 07:59 EDT
Nomura upgraded Alexion (ALXN) to Buy and increased its price target to $246 from $222 following the acquisition of Synageva (GEVA). The firm said Synageva's lead drug, Kanuma, could generate peak sales of 2B, above Alexion's guidance of $1B+ and consensus of $1.5B. Nomura believes the deal is a win as it diversifies revenue and provides a deeper pipeline.
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