Piper Jaffray analyst Christopher Raymond sees "yet another perplexing disconnect between fundamentals and stock action" following Alexion Pharmaceuticals' Q4 results. With a beat and above consensus fiscal 2019 earnings guidance, the market seems focused on Alexion's below consensus revenue guidance, Raymond tells investors in a post-earnings research note titled "Q418 Beat, FY19 Revenue Guidance a Bit of a Sandbag; Buyers Right Here." The sales outlook "seems to presuppose everything but the kitchen sink with respect to any type of headwind," says the analyst. He thinks Alexion's management team has continued to deliver without reward from the market. Further, there is "very real potential" for the company to be taken out, Raymond adds. He's a buyer of the stock at current levels with an Overweight rating and $180 price target. Alexion in afternoon trading is down 2% to $123.79.