Alexion Pharmaceuticals, Inc. (NASDAQ: ALXN)
Alexion Pharmaceuticals is having an incredible day in the market today. When the opening bell rang, the stock immediately started making a run for the top. Since then, we’ve seen further and further gains, and yet another spike just minutes ago. Below, we’ll talk about what we’re seeing from the stock, why, and what we’ll be watching for with regard to ALXN ahead.
What We’re Seeing From ALXN
As mentioned above, Alexion Pharmaceuticals is having an incredibly strong day in the market today. At the opening bell, the stock immediately started running upward. From there, we’ve seen a continuation of gains throughout the day. Currently (11:45), ALXN is trading at $112.94 per share after a gain of $2.93 per share (2.66%) thus far today.
Why The Stock Is Edging Upward
As always, as soon as our partners at Trade Ideas gave us the signal that ALXN was edging up, the CNA Finance team went to work to see what was causing the movement. It didn’t take long to dig up the story. While we didn’t see any fundamental news that could be causing the gains, we did find an interesting rumor in the social realm.
That rumor is that ALXN may be acquired. Now, keep in mind that the idea that a takeover is coming is just a rumor at the moment. There has been no confirmation and the chatter is overwhelmingly vague. Nonetheless, it is exciting investors and sending the stock upward.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on Alexion Pharmaceuticals. In particular, we’ll be watching this story to see if the rumors are true. After all, an ALXN acquisition could return incredible value for shareholders. Nonetheless, we’ll keep a close eye on the story and update you as news becomes available.
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[Image Courtesy of Pixabay]