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Oct. 24, 2018, 7:50 a.m. EDT

Alexion stock rises 3% on Q3 beats, upbeat 2018 guidance

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By Emma Court

Alexion Pharmaceuticals Inc. /zigman2/quotes/206262068/composite ALXN +2.15% shares surged 3% in Wednesday premarket trade after the company reported third-quarter profit and revenue beats and upbeat 2018 guidance. Earnings for the latest quarter rose to $330.9 million, or $1.47 per share, from $78 million, or 35 cents per share in the year-earlier period. Adjusted earnings-per-share were $2.02, compared with the FactSet consensus of $1.74. Revenue rose to $1.03 billion from $859 million, above the FactSet consensus of $1.02 billion. The latest results include major sales increases for the company's Soliris, Strensiq and Kanuma medications. Soliris and Kanuma sales beat the FactSet consensus, while Strensiq sales missed. Alexion now expects 2018 revenue of $4.02 billion to $4.05 billion, an increase from previous guidance of $3.98 billion to $4.01 billion, and 2018 adjusted EPS of $7.45 to $7.60, an increase from prior guidance of $7.00 to $7.15. Alexion also announced a collaboration with Dicerna Pharmaceuticals Inc. /zigman2/quotes/203776010/composite DRNA +2.08% to develop a category of promising medications called RNA interference therapies. Dicerna will receive an upfront payment of $22 million and a $15 million equity investment from Alexion, and will be eligible for various milestone payments and royalties. Alexion shares have dropped 9.1% over the last three months, compared with a 2.8% decline in the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.60% and a 0.2% decline in the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +1.34% .

/zigman2/quotes/206262068/composite
US : U.S.: Nasdaq
$ 114.43
+2.41 +2.15%
Volume: 1.85M
Sept. 25, 2020 4:00p
P/E Ratio
30.58
Dividend Yield
N/A
Market Cap
$25.08 billion
Rev. per Employee
$1.56M
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/zigman2/quotes/203776010/composite
US : U.S.: Nasdaq
$ 18.67
+0.38 +2.08%
Volume: 495,793
Sept. 25, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.39 billion
Rev. per Employee
$79,180
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/zigman2/quotes/210599714/realtime
US : S&P US
3,298.46
+51.87 +1.60%
Volume: 2.18B
Sept. 25, 2020 5:06p
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
27,173.96
+358.52 +1.34%
Volume: 391.73M
Sept. 25, 2020 5:06p
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