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ALXN

Alexion

$106.17 /

+3.4 (+3.31%)

, AMGN

Amgen

$224.81 /

+2.55 (+1.15%)

09:08
05/28/20
05/28
09:08
05/28/20
09:08

Alexion settlement could 'clear the deck' for acquirer, says Piper Sandler

Piper Sandler analyst Christopher Raymond keeps an Overweight rating on Alexion Pharmaceuticals (ALXN) following news of an impending settlement of Amgen's (AMGN) inter partes review challenge for three U.S. Soliris patents, according to documents posted by the Patent Trial and Appeal Board. A settlement would be a "deck-clearing event" that could also make the Alexion "story cleaner for an acquirer," Raymond tells investors in a research note. Given Elliott Management's involvement and this week's news that Sanofi (SNY) is monetizing its Regeneron (REGN) stake, "this possibility has to be front of mind," says the analyst. Raymond wonders why Alexion would settle now, three months before the PTAB's written decision was due. One possible consideration for Alexion "was to clear the deck to make the story cleaner for an acquirer," contends Raymond. The stock in premarket trading is up 7% to $114.00.

ALXN

Alexion

$106.17 /

+3.4 (+3.31%)

AMGN

Amgen

$224.81 /

+2.55 (+1.15%)

SNY

Sanofi

$47.51 /

+0.25 (+0.53%)

REGN

Regeneron

$544.01 /

-1.21 (-0.22%)

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ALXN Alexion
$106.17 /

+3.4 (+3.31%)

05/28/20 Cowen
Alexion settlement may yield upside surprise, says Cowen
05/28/20 Stifel
Alexion, Amgen appear to have agreed to settlement deal, says Stifel
05/26/20 BMO Capital
BMO Capital still sees favorable risk/reward in Alexion following Argenx news
05/26/20 Piper Sandler
Piper stays Overweight Alexion after Argenx data, says comps 'near impossible'
AMGN Amgen
$224.81 /

+2.55 (+1.15%)

05/22/20 Piper Sandler
Harpoon Therapeutics initiated with an Overweight at Piper Sandler
05/11/20 Wedbush
MyoKardia price target raised to $127 from $90 at Wedbush
SNY Sanofi
$47.51 /

+0.25 (+0.53%)

05/27/20 Citi
BioMarin a good takeout candidate, but not by Sanofi, says Citi
05/26/20 UBS
Sanofi price target lowered to EUR 101 from EUR 103 at UBS
05/26/20 Piper Sandler
Piper remains buyer of Regeneron, ups target to $630 on buyback accretion
05/26/20 SVB Leerink
Sanofi overhang removed, Regeneron capital structure improving, says SVB Leerink
REGN Regeneron
$544.01 /

-1.21 (-0.22%)

05/28/20 Barclays
Regeneron price target raised to $615 from $530 at Barclays
05/26/20
Fly Intel: Top five analyst upgrades
05/26/20 RBC Capital
BioMarin among Sanofi's most intriguing potential targets, says RBC Capital

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