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Fly News Breaks for October 2, 2015
ALXN
Oct 2, 2015 | 07:06 EDT
Morgan Stanley upgraded Alexion to Overweight and increased its price target to $211 from $186. Analyst Matthew Harrison said his Overweight rating is based on relative valuation and new pipeline launches. Harrison added Myasthenia Gravis and Neuromyelitis Optica sales to his estimates, which combined now add $1B in new peak sales for both indications. Additionally, the analyst believes the new product cycle and pipeline support upside, and reset consensus expectations regarding competitive concerns limit downside.
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