Piper a buyer of Alexion after 'another quarter of flawless execution'
Piper Jaffray analyst Christopher Raymond said he remains a buyer of shares of Alexion following what he describes as "yet another beat/raise quarter with near flawless execution both commercially and developmentally." Despite similar results in the past several quarters, the stock "has languished," which Raymond attributes to what he views as overblown concerns regarding the tail trajectory for the company's C5 inhibitor franchise. However, Raymond contends that Ultomiris conversion is "well ahead of schedule," which the company is coupling "with an almost breathtaking pace of BD-driven pipeline diversification." He maintains an Overweight rating and $180 price target on Alexion shares.