Today’s news: Alexion Pharmaceuticals (ALXN) moves from Strong Buy to Buy.
Alexion Pharmaceuticals (ALXN) has been racing upward in recent days and is fast approaching 137, where it last traded in July. The stock will most likely need to rest (or pull back) while it gathers strength to break past 137. I’m moving my recommendation from Strong Buy to Buy, since the current price action is likely to come to a halt. The best case scenario this year—barring a takeover offer—is that ALXN could rise to the upper 140’s by year end, where it will still be undervalued. Buy.