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ALXN

Alexion

$118.24

0.68 (0.58%)

07:31
06/14/18
06/14
07:31
06/14/18
07:31

Alexion to present results from ALXN1210 Phase 3 study at EHA

Alexion Pharmaceuticals announced that results from one of the two large Phase 3 studies of ALXN1210, the company's investigational long-acting C5 complement inhibitor, in patients with paroxysmal nocturnal hemoglobinuria were selected for presentation during the Late-Breaking Oral Session on Sunday, June 17, 2018 at the Annual Conference of the European Hematology Association in Stockholm, Sweden. "We are very excited about EHA's recognition of the robustness and importance of these data in complement inhibitor treatment-naive patients. We enrolled a very broad patient population, representative of patients with PNH in clinical practice, including patients with a history of aplastic anemia, and 'classic' PNH, as well as transfused and non-transfused patients," said John Orloff, M.D., EVP and Head of Research & Development at Alexion. "We look forward to discussing the data with leading hematologists in Europe at the conference later this week as part of our ambition to make ALXN1210 the new standard of care for patients with PNH." As previously announced, weight-optimized treatment every eight weeks with ALXN1210 demonstrated non-inferiority to treatment every two weeks with Soliris in complement inhibitor treatment-naive patients with PNH on the two co-primary endpoints and all four key secondary endpoints. The numeric results for all these endpoints, including breakthrough hemolysis, favored ALXN1210 and are consistent with the immediate and complete C5 inhibition observed by the end of the first infusion of ALXN1210 and sustained throughout the entire 26-week treatment period. The safety profile of ALXN1210, based on almost 180 patient years of experience, was similar to that of Soliris.

ALXN Alexion
$118.24

0.68 (0.58%)

06/05/18
FBCO
06/05/18
NO CHANGE
Target $154
FBCO
Outperform
Alexion price target raised to $154 from $149 at Credit Suisse
Credit Suisse analyst Martin Auster raised his price target for Alexion to $154 from $149 saying the resolution of overhangs on the shares supports upside, namely if a global 1210 switch strategy is viable given Soliris EU IP uncertainty and what will drive long-term growth for Alexion. The analyst expects partial or full resolution of the first overhang as investors recognize that biosimilar risk may largely be limited to the PNH indication, and lackluster competitive C5 data and probable biosimilar pushouts suggest bearish timeline assumptions are low risk, likely allowing ample time to convert the market to 1210 from Soliris. Auster reiterates an Outperform rating on the shares.
05/08/18
PIPR
05/08/18
NO CHANGE
Target $170
PIPR
Overweight
Alexion should be bought on weakness, says Piper Jaffray
Piper Jaffray analyst Christopher Raymond says he would be a buyer of Alexion's shares on weakness today as he thinks the market's reaction to what really amounts to "nothing more than a procedural update" from the EPO is "wholly misplaced." The analyst reminds investors that the Soliris composition of matter patent in question already was subject to a first office action rejection in November of last year. This recent news reflects a continuation of that back and forth, and the real revelation on this does not occur till the oral hearing next February, he adds. Raymond reiterates an Overweight rating and $170 price target on the shares.
05/08/18
EVER
05/08/18
NO CHANGE
Target $150
EVER
Outperform
Alexion EU patent not 'a need to have,' says Evercore ISI
Evercore ISI analyst Josh Schimmer notes Alexion is trading lower after an announcement that the European Patent Office rejected a new composition of matter patent for Soliris which could extended to 2027. The analyst points out that this patent was never part of his investment thesis, as he views it more as a "nice to have" rather than a "need to have" for success given many additional barriers to entry including label expansions and raising the bar through Q8W 1210 IV and ultimately s.c. dosing. Schimmer reiterates an Outperform rating and $150 price target on the shares. In afternoon trading, shares of Alexion have dropped over 4% to $113.23.
05/08/18
JEFF
05/08/18
NO CHANGE
JEFF
Hold
Alexion CoM patent for Soliris rejected by European regulator, says Jefferies
Jefferies analyst Eun Yang reported that the European Patent Office's Examining Division issued a rejection to Alexion's new Composition of Matter, or CoM, patent application for Soliris. If one is not issued, a potential biosimilar entry is likely in about 2020 in the EU, added Yang, who noted that the company has requested oral proceedings, which are set to take place in February 2019. The analyst has a Hold rating on Alexion.

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