Piper Sandler analyst Christopher Raymond tells investors in a research note that he is incrementally positive on Alexion shares after the company pre-released rough 2019 revenue growth implying sizeable upside to Q419 estimates. More meaningful for the stock, Raymond says, is that management is now guiding to four times more U.S. neurology patients on Soliris/Ultomiris by 2025, which he says equates to roughly $1.2B more than his currently modeled $8.496B total revenue for 2025. Coupled with the company's rapidly progressing pipeline and diversification efforts, Raymond says he remains comfortable with Alexion as a top large cap pick for 2020. The analyst made no change to his Overweight rating or $180 price target.