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Fly News Breaks for June 7, 2016
ALXN
Jun 7, 2016 | 07:41 EDT
Oppenheimer analyst lowered his price target for Alexion to $221 from $228 after the company announced top-line data from Phase 3 REGAIN study of its eculizumab in refractory generalized myasthenia gravis, or rGMG, which narrowly missed its primary endpoint, but achieved statistical significance in secondary endpoints. The follow-up data will be presented on July 7 at ICNMD, the analyst tells investors, adding that he recommends buying Alexion's stock on rGMG weakness. Oppenheimer has an Outperform rating on the shares.
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